Gold, silver prices in your city, May 8: The United States Federal Reserve on May 7 kept rates steady, citing inflation. This was in line with what experts predicted, as prices of the yellow metal lowered this past week on low expectations for change.
While experts are divided over where gold and silver prices are headed due to several recent geopolitical developments, including rising tensions between India and Pakistan and renewed conflict between Israel and Gaza. Commodities (gold and silver) have emerged as the safe haven investment in these volatile markets.
In terms of returns, over the past year along, gold cost has jumped 30 per cent, returned 15 per cent CAGR since 2001; and since 1995, has beaten inflation by over 2-4 per cent, data shows.
Gold Prices Today: Check Gold Rates in India — May 8
As such, price at 6.20 am on May 8, on the MCX gold index was ₹97,051/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹95,730/kg, it showed.
Further, 24-carat gold was priced at ₹97,380/10 gm, according to data on the Indian Bullion Association (IBA) at 6.20 am on May 8. Further, 22-carat gold was priced at ₹89,265/10 gms. And, silver prices today are at ₹95,840/kg (Silver 999 Fine), as per the IBA website.
So, check here for prices of gold and silver in your city today on May 8 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai.
Gold and Silver Prices in Mumbai — May 8
Gold bullion rates in Mumbai — ₹94,430/10 gm.
MCX Gold rate in Mumbai — ₹95,221/10 gm.
Silver bullion rate in Mumbai — ₹95,120/kg.
MCX Silver 999 rate in Mumbai — ₹96,524/kg.
Gold and Silver Prices in Chennai — May 8
Gold bullion rates in Chennai — ₹94,750/10 gm.
MCX Gold rate in Chennai — ₹95,221/10 gm.
Silver bullion rate in Chennai — ₹95,460/kg.
MCX Silver 999 rate in Chennai — ₹96,524/kg.
Gold and Silver Prices in Kolkata — May 8
Gold bullion rates in Kolkata — ₹94,350/10 gm.
MCX Gold rate in Kolkata — ₹95,221/10 gm.
Silver bullion rate in Kolkata — ₹95,060/kg.
MCX Silver 999 rate in Kolkata — ₹96,524/kg.
Gold and Silver Prices in Hyderabad — May 8
Gold bullion rates in Hyderabad — ₹94,620/10 gm.
MCX Gold rate in Hyderabad — ₹95,221/10 gm.
Silver bullion rate in Hyderabad — ₹95,330/kg.
MCX Silver 999 rate in Hyderabad — ₹96,524/kg.
Gold and Silver Prices in Bengaluru — May 8
Gold bullion rates in Bengaluru — ₹94,500/10 gm.
MCX Gold rate in Bengaluru — ₹95,221/10 gm.
Silver bullion rate in Bengaluru — ₹95,200/kg.
MCX Silver 999 rate in Bengaluru — ₹96,524/kg.
Gold and Silver Prices in Delhi — May 8
Gold bullion rates in New Delhi — ₹94,260/10 gm.
MCX Gold rate in New Delhi — ₹95,221/10 gm.
Silver bullion rate in New Delhi — ₹94,960/kg.
MCX Silver 999 rate in New Delhi — ₹96,524/kg.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
