Gold and Silver Prices Today, 8 May 2025: On the Multi Commodity Exchange (MCX), gold futures for June delivery dropped by 0.11 per cent, or Rs 109, settling at Rs 97,199 per 10 grams. In contrast, silver futures for May delivery climbed 0.38 per cent or Rs 367, closing at Rs 96,100 per kilogram.
Globally, gold prices rose as investors sought safety after the U.S. Federal Reserve flagged risks of higher inflation and a weakening labour market. Spot gold was up 1.4 per cent at $3,409.76 an ounce, while U.S. gold futures gained 0.7 per cent to $3,416.70 per ounce.
According to Kyle Rodda, financial market analyst at Capital.com, “The Fed’s ‘wait and see’ approach and ongoing trade uncertainties with China are fuelling demand for safe-haven assets like gold.” He added that slowing U.S. growth and discussions around “de-dollarisation” were adding to the bullion’s appeal.
The Fed kept interest rates steady but warned of an increasingly cloudy outlook due to inflationary pressures and geopolitical tensions. Chair Jerome Powell stated that it’s unclear whether the U.S. economy will sustain its current growth trajectory amid rising uncertainty.
Meanwhile, U.S. and Chinese officials are set to hold crucial trade talks in Switzerland over the weekend. President Donald Trump recently hinted that China initiated the dialogue, but reaffirmed his stance against easing tariffs without concessions.
In the international precious metals market, silver rose 1.1 per cent to $32.82 an ounce. Platinum gained 0.8 per cent to reach $982.05, while palladium remained steady at $971.95.
The bullion rally comes amid not just economic headwinds, but also escalated geopolitical tensions in South Asia. India conducted strikes in Pakistan and Pakistan-administered Kashmir following recent civilian deaths in Kashmir, prompting Pakistan to claim it downed five Indian jets—a flashpoint that could add to global risk sentiment.
Gold, known as a non-yielding asset, typically performs well in times of economic or political turmoil and thrives in low interest rate environments.
Retail Gold Prices Across Major Indian Cities (May 7, 2025):
|
City |
24K |
22K |
|
Mumbai |
Rs 9,901 |
Rs 9,076 |
|
Delhi |
Rs 9,916 |
Rs 9,091 |
|
Chennai |
Rs 9,901 |
Rs 9,076 |
|
Kolkata |
Rs 9,901 |
Rs 9,076 |
|
Bengaluru |
Rs 9,901 |
Rs 9,901
|
Retail Gold Prices Across Major Indian Cities (May 8, 2025):
Gold Price in Mumbai:
In Mumbai, the price of 24-karat gold stood at Rs 9,901 per gram, while 22-karat gold was priced at Rs 9,076 per gram.
Gold Price in Delhi:
The national capital recorded 24K gold at Rs 9,916 per gram, with 22K gold available at Rs 9,091 per gram.
Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 24K gold at Rs 9901 per gram and 22K gold at Rs 9076 per gram.
Gold Price in Kolkata:
In Kolkata, 24-karat gold was priced at Rs 9901 per gram, and 22-karat gold was selling at Rs 9076 per gram.
Gold Price in Bengaluru:
Bengaluru saw 24K gold trading at Rs 9901 per gram, while 22K gold was available at Rs 9901 per gram.
Gold Price in Ahmedabad:
Pune saw 24K gold trading at Rs 9906 per gram, while 22K gold was available at Rs 9081 per gra
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
