Gold, Silver Rates Today (May 8, 2026): Gold Prices Rise Amid Safe-Haven Rush; Check 24K, 22K Rates In Delhi, Mumbai, Chennai And Other Cities

Gold prices keep refusing to cool.

The yellow metal holds firm on Friday, May 8, as buyers remain interested on the back of global uncertainty, inflation concerns and safe-haven demand, despite hitting record highs in recent sessions. Silver’s upward march continues, and it is trading at higher levels in the domestic and overseas markets.

Gold prices now hover around ₹15,300 a gram in India. The retail price of silver has surged to over ₹2.70 lakh a kilo. Internationally, spot gold hovered around $4,700 an ounce as the safe-haven appeal remained supported by geopolitical tensions and the expectation of rampant inflation.

The question many retail buyers now face is: buy at current record highs or wait to purchase until the price begins to come down again?

Gold Price Today in India on 8th May

New Delhi: Gold prices in India’s key cities rose on Friday morning. The 24K gold price in Delhi was ₹153,150 per 10 grams. In Mumbai, the price was almost similar at Rs 153,000 per 10 grams.

This follows another strong session in bullion markets as traders continue to flock to safe-haven assets amid uncertainty over West Asia tensions and concerns over global inflation.

Gold Rate in India Today

Note: The final price of jewellery is subject to variation on account of GST, duties and premiums specific to the locality.

City-Wise Gold Rates Today

Gold Price Today In Major Indian Cities (Per Gram)

So What’s Driving Gold Prices Up Now?

The current rally in gold prices has resulted from a mix of both global and local triggers.

Geopolitical tensions stay at an all-time high, and the safe-haven appeal continues to see global investors flock towards gold. Inflation fears continue to loom around financial markets as the recent fears over the Strait of Hormuz and the reported escalation of Iran-US tensions have brought fresh inflation worries back in play.

Global central banks continue to purchase gold reserves, and the same remains to be seen as a long-term support for gold.

Moreover, the safe-haven nature continues to be well in play, with investors running to gold to park their funds amid global uncertainty and current all-time high gold prices fuelled by ETF inflows and digital gold purchases.

Key triggers that will dictate gold prices:

Growing geopolitical tensions
Inflation concerns globally
Central bank purchases of gold
Safe-haven demand
High interest in retail investment
Steady ETF inflows

But a firmer dollar is likely to cap further gains in bullion prices in the near term.

MCX Gold and Silver Review

Meanwhile, precious metals remained strong on the Multi Commodity Exchange (MCX).

Commodity Change Last Price (MCX)

Silver was firmer than gold in the last session, supported by industrial and safe-haven buying.

Today’s Silver Rate in India

Silver prices are also rising. In the domestic market, silver rose to ₹270,100 per kg on Friday morning. Silver was trading internationally at nearly $81.35 an ounce.

Delhi’s markets had seen silver prices rise by almost Rs 7,000 a kg a day earlier.

Silver Rates Today: City-wise Silver Rate (999)

Delhi: ₹2,701 for 10 gm
Mumbai: ₹2,701 for 10 gm
Kolkata: ₹2,701 for gm
Chennai ₹2,749 for 10 gm

More volatile than gold this year has been silver, interestingly. Prices of silver in the domestic market crossed the ₹4 lakh per kg mark earlier this year due to supply concerns and speculative buying.

Gold Prices for the Last 10 Days

Gold has had a wild ride over the last two weeks, mirroring volatility in global commodity and currency markets.

What’s the Connection Between Crude Oil, Inflation and Gold?

Oil prices remain an important factor in gold’s movement.

Brent crude is trading in the $96-$102 per barrel range after a recent bout of rapid volatility. The rise in crude prices is fuelling inflation fears globally, and gold usually gets a boost when this happens, with investors viewing it as an inflation hedge.

Analysts say every sharp rise in oil prices eventually trickles through into transportation, logistics and food costs, which in turn supports gold demand.

Buy Gold Now Or Wait?

It depends what you want to do.

Experts say staggered buying can still make sense on the back of elevated prices if you are buying gold for long-term investment, savings diversification or festive purchases later in the year.

However, short-term traders should be cautious, as gold has rallied sharply and could see intermittent profit booking whenever global tensions cool a bit or the dollar strengthens further.

However, for the moment, the trend still looks tilted in favour of the bulls. As long as geopolitical uncertainty, inflation fears, and safe-haven demand remain strong, gold prices are likely to stay elevated – and volatile.

Also Read: How Is Gold’s Safe-Haven Status Holding Up Amid Iran Conflict? Precious Metal Loses Shine as Investors Shift to Interest Rates

(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)