Gold price today rallied yet again for fourth consecutive day in India after reports emerged that US President Donald Trump inked a potential trade deal with Britain as Federal Reserve held interest rates unchanged. 24k gold price today gained Rs 600 to Rs 99,600/10 grams and 24k/100 grams gold rate added Rs 6,000 to settle at Rs 9,96,000 on Thursday. 22K gold price today surged by Rs 550 to settle at Rs 91,300 and 22k/100 grams gold edged higher by Rs 5,500 to Rs 9,13,000 on May 8, 2025.
Meanwhile, 18k yellow metal rates edged higher by Rs 450 to retail at Rs 74,700/10 grams and 18k/100 grams precious metal prices firmed by Rs 4,500 to Rs 7,47,000. 24k per gram gold turned dearer by Rs 60 to Rs 9,960, 22k per gram yellow metal rallied by Rs 55 to Rs 9,130, and 18k gold soared by Rs 45 to Rs 7,470.
How Much Gold Prices Jumped In May?
Gold prices witnessed a rally of 4.05% since May 1, 2025 to May 8, 2025 as 22k/10 grams yellow metal prices were hovering at Rs 87,750 and today prices jumped to Rs 91,300.
How Much Yellow Metal Prices Surged Since Jan 1, 2025 To May 8, 2025?
22k/10 grams gold prices were retailing at Rs 71,500 on January 1, 2025. Today, 22k/10 grams gold soared to Rs 91,300/10 grams, reflecting a surge of 27.69%.
Spot Gold Price Today
Spot gold plunged 0.8% to $3,336.49 an ounce, as of 0618 GMT. Yellow metal zoomed over 1% earlier in the session. Spot silver slipped 0.1% to $32.43 an ounce, platinum jumped 0.2% to $975.75 and palladium declined 0.9% to $963.26., according to the Reuters report.
22k Gold Price In Last 5-Days In India (for 1 gram)
22k per gram gold price today gained by Rs 55, zoomed by Rs 50 on May 7, rallied by Rs 250 on May 6, surged by Rs 20 on May 5, and held steady on May 4.
Will Gold Prices Hit New High?
The Reuters report added, India attacked Pakistan and Pakistani Kashmir on May 7 over the tourist killings in Kashmir’s Pahalgam in April. “If (tension) further escalates, then we might see gold continue to rise and maybe break the previous high that we’ve seen,” said Brian Lan, managing director at GoldSilver Central, Singapore.
According to Mr. Colin Shah, MD, Kama Jewelry, “The decision of US Fed keeping the interest rates unchanged comes following the global uncertainty caused by the escalating trade war, a slowdown in the economic growth in the US, and volatile inflation trends. While the inflation may appear to have cooled down and the growth looks robust, this still does not warrants for a rate cut as the risks of uncertainty regarding the economic outlook looms large. Hence, the Fed Chair will evaluate the data after the 90-day pause period to decide about the future rate cuts.”
In terms of gold, the prices moved up in the domestic market following the Fed’s announcement and cautious stance over the economic outlook, which pushed investors towards the yellow metal. Gold tends to perform well in low interest rate regime. Going ahead, we expect gold prices to be elevated with mild volatility in the price trajectory due to the ongoing trade war between US-China and the geopolitical tensions in the Middle-East and Russia-Ukraine. Prices could hover in the range of INR 96,000 to 97,000/10 gms in the domestic market and USD 3400 to 3500/Oz in the international markets in the near term.”
Silver Prices Today In India
Silver prices held steady in India on May 8, 2025. 1 kg silver price today stood at Rs 99,000. Meanwhile, 100 grams silver prices are retailing at Rs 9,900.
Silver Prices In Last 5-Days In India (1kg)
Silver prices today stood steady, surged by Rs 2,100 on May 7, declined by Rs 100 on May 6, fell by Rs 1000 on May 5, and remained flat on May 4.
Where Gold Prices Are Cheapest In The World On May 08, 2025?
22k per gram gold prices are cheapest in England on May 08, 2025 at Rs 8,363 followed by Kuwait at Rs 8,579. Meanwhile, 22k per gram gold stood highest in Nepal today at Rs 9,466 followed by Singapore at Rs 8,944.
1 Gram Gold Rate In Key Metro Cities And States Of India On May 8, 2025
| City | 22K Gold Price Per Gram |
| Chennai Gold Price Today | 22K gold rate is Rs 9,130 |
| Mumbai Gold Price Today | 22K gold price is Rs 9,130 |
| Delhi Gold Rate Today | 22K yellow metal price is Rs 9,145 |
| Kolkata Gold Price Today | 22K gold price is Rs 9,130 |
| Bangalore Gold Price Today | 22K gold rate is Rs 9,130 |
| Hyderabad Gold Prices Today | 22K gold rate is Rs 9,130 |
| Kerala Gold Prices Today | 22K gold rate is Rs 9,130 |
| Gold Price In Lucknow Today | 22K gold price is Rs 9,145 |
| Patna Gold Rate Today | 22K precious metal price is Rs 9,135 |
(Gold price figures source: Goodreturns.in)
Disclaimer: The story highlights gold prices and should not be considered an investment advice by Moneydaily.in or the author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. Moneydaily.in advises readers to do their own research or consult an expert before making any investment decisions.
Recommended: Gold Price Rallies In India, May 7: 18k, 22k, 24k Gold Gains Again For 3rd Day, Silver Rises Too
Leave a Reply