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Gold prices in the country have risen further. On the morning of August 8, the price of 24-carat gold in the capital, Delhi, reached ₹1,50,050 per 10 grams. In Mumbai and Kolkata, the rate stands at ₹1,49,900 per 10 grams. Domestic gold prices are surging due to a weak US dollar and a spike in gold prices in foreign markets. A decline of 23,000 jobs was recorded in US non-farm payrolls in July. This has reduced the likelihood of the US Federal Reserve raising key interest rates.

An increase in benchmark interest rates is a negative factor for precious metals like gold and silver. In the international market, spot gold is trading at $4,336.02 per ounce. Global gold prices have risen by more than 7 percent so far this week.

US President Donald Trump has expressed hope that the conflict with Iran will end soon. An agreement between the US and Iran would lead to the full reopening of the Strait of Hormuz, a crucial maritime route. This expectation has eased concerns regarding inflation, further reducing the likelihood of the US Federal Reserve raising benchmark interest rates.

Gold rates in major cities:

Gold price in Delhi: The price of 24-carat gold in Delhi is ₹1,50,050 per 10 grams. The rate for 22-carat gold is ₹1,37,560 per 10 grams.

Mumbai and Kolkata: In Mumbai and Kolkata, the price of 22-carat gold is ₹1,37,410 per 10 grams, while the price of 24-carat gold is ₹1,49,900 per 10 grams.

Gold price in Chennai: The price of 24-carat gold is ₹1,49,990 per 10 grams. The rate for 22-carat gold is ₹1,37,510 per 10 grams. Prices in Pune and Bengaluru: In both these cities, the price of 24-carat gold is ₹1,49,900 per 10 grams, and the price of 22-carat gold is ₹1,37,410 per 10 grams.

City    Today's 22-Carat Gold Price (₹)    Today's 24-Carat Gold Price (₹)
Delhi                      1,37,560                            1,50,050
Mumbai                  1,37,410                           1,49,900
Ahmedabad           1,37,460                            1,49,950
Chennai                 1,37,490                            1,49,990
Kolkata                   1,37,410                            1,49,900
Hyderabad              1,37,410                           1,49,900
Jaipur                      1,37,560                          1,50,050
Bhopal                    1,37,460                           1,49,950
Lucknow                  1,37,560                          1,50,050
Chandigarh              1,37,560                         1,50,050

Silver Price

The price of silver, another precious metal, has declined across the country on the morning of August 8. Silver has now come down to ₹2,39,900 per kilogram. In the international market, the price of spot silver stands at $63.29 per ounce.

Disclaimer: This content has been sourced and edited from Money Control. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.