Gold and silver prices moved higher in India on Friday, August 7, as precious metals continued to attract investor attention amid global market uncertainty. On the Multi Commodity Exchange (MCX), gold futures rose to ₹1,49,490 per 10 grams, while silver futures climbed to ₹2,28,660 per kg.
The latest movement keeps gold prices close to the ₹1.5 lakh mark, highlighting the strength of the precious metals market. Silver has also remained firm, supported by gains in international markets and continued demand for the metal as both an investment asset and an industrial commodity.
In the retail market, 24-karat gold in New Delhi was priced at around ₹1,49,020 per 10 grams, while 22-karat gold stood at ₹1,36,602. Silver 999 was quoted at ₹2,27,970 per kg.
In Mumbai, the 24K gold rate was around ₹1,49,280 per 10 grams and 22K gold was priced at ₹1,36,840. Silver was quoted at ₹2,28,370 per kg.
Kolkata saw 24K gold at approximately ₹1,49,080 per 10 grams, while 22K gold stood at ₹1,36,657. The silver rate was around ₹2,28,060 per kg.
Among other major markets, Bengaluru recorded 24K gold at about ₹1,49,400 per 10 grams and 22K gold at ₹1,36,950. Silver was priced at ₹2,28,550 per kg. In Hyderabad, 24K gold was around ₹1,49,510 and 22K gold at ₹1,37,051 per 10 grams, while silver stood at ₹2,28,730 per kg.
Chennai recorded one of the higher gold prices among the markets tracked, with 24K gold at around ₹1,49,710 per 10 grams and 22K gold at ₹1,37,234. Silver was quoted at approximately ₹2,29,030 per kg.
The domestic bullion market has been taking cues from international prices, with global gold and silver both gaining during Friday’s trading session. Spot gold rose around 0.41% to $4,317.40 an ounce, while silver gained about 1.50% to $62.53 an ounce during morning trade.
Gold had already touched a seven-week high in the previous session, supported by several factors including movements in the US dollar, Treasury yields and expectations surrounding US interest-rate policy.
A weaker US dollar generally supports gold because the metal becomes relatively cheaper for buyers holding other currencies. Lower bond yields can also make non-yielding assets such as gold more attractive to investors.
The outlook for US monetary policy remains particularly important for bullion prices. Investors are closely watching economic data from the United States for clues about the Federal Reserve’s next interest-rate decision. Friday’s Non-Farm Payrolls and unemployment data could influence the dollar and US Treasury yields, potentially triggering further movement in gold and silver prices.
Geopolitical developments are another factor keeping precious metals in focus. While some optimism around possible diplomatic developments has eased immediate concerns in global markets, uncertainty remains. Such conditions can encourage investors to maintain exposure to traditional safe-haven assets such as gold.
For Indian consumers, the latest gold price is significant because domestic rates remain close to record-high levels. Anyone planning to buy jewellery is likely to feel the impact not only of the gold rate but also of making charges, taxes and the purity of the jewellery.
There is also an important difference between 24K and 22K gold. Twenty-four-karat gold represents the highest commonly traded purity and is generally preferred for investment products. Twenty-two-karat gold, meanwhile, is widely used for jewellery because it contains a small proportion of other metals, making it more durable for everyday use.
Silver has also emerged as a closely watched commodity. Unlike gold, silver has significant industrial applications, including in electronics, solar technology and other manufacturing sectors. As a result, silver prices can respond to both investment demand and expectations about industrial activity.
The latest rise in MCX silver to ₹2,28,660 per kg underlines the strong momentum in the domestic silver market. Its performance is being influenced by international silver prices, currency movements, interest-rate expectations and broader commodity-market sentiment.
Analysts expect volatility to continue in the bullion market as traders assess incoming economic data and developments on the geopolitical front. Market participants are likely to watch the dollar and US bond yields closely, as both can have a direct influence on gold prices.
For investors, the current environment continues to support interest in precious metals, although elevated prices also mean that short-term movements can be sharp. Gold and silver can react quickly to changes in global interest-rate expectations, currency movements and risk sentiment.
For now, gold price today remains close to ₹1.5 lakh per 10 grams in the domestic futures market, with MCX gold at ₹1,49,490. MCX silver is also holding firm at ₹2,28,660 per kg.
With global economic data, US monetary policy expectations and geopolitical developments all in focus, investors will be watching closely to see whether gold and silver can extend their recent gains or face profit-taking at elevated levels.