Gold and silver prices in your city on August 7: Prices of precious metals climbed in the domestic futures markets on August 7 (Thursday) after United States President Donald Trump doubled tariffs from 25 per cent to 50 per cent as “punishment” for trading with Russia.
MCX Gold October 3 contracts were up 0.16 per cent at ₹1,01,423 per 10 grams, while MCX Silver September 5 contracts were up 0.47 per cent at ₹1,14,187 per kg around 9.10 am today.
Gold attractive as ‘safe haven’ amid uncertainty
Mounting uncertainty around Donald Trump tariffs is a key positive factor for safe-haven asset gold. Experts noted that both gold and silver are safe haven bets that investors can make to safeguard their portfolios despite increased risk aversion.
Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹7,638 in 2005 to over ₹1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 31 per cent, with consistent record highs solidifying its position among 2025’s top-performing asset classes and a reliable hedge.
Further, silver has also proved resilient. Prices have held above the ₹1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent.
How much gold, silver prices changed today — Aug 7
The MCX gold index was at ₹1,01,456/10 gm at 11.30 am on August 7, the official website showed. Meanwhile, MCX silver prices were at ₹1,14,381/kg, it showed.
Further, 24-carat gold was priced at ₹1,01,550/10 gm, according to data on the Indian Bullion Association (IBA) at 11.20 am on August 7. Further, 22-carat gold was priced at ₹93,088/10 gms. Silver prices today are at ₹1,14,730/kg (Silver 999 Fine), as per the IBA website.
So, check here gold and silver prices in your city today on August 7 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you.
Gold and Silver Prices in Mumbai — August 7
• Gold bullion rates in Mumbai— ₹1,01,420/10 gm.
• MCX Gold ratein Mumbai — ₹1,01,456/10 gm.
• Silver bullion rate in Mumbai— ₹1,14,560/kg.
• MCX Silver 999 rate in Mumbai — ₹1,14,381/kg.
Gold and Silver Prices in Delhi — August 7
• Gold bullion rates in New Delhi— ₹1,01,240/10 gm.
• MCX Gold rate in New Delhi — ₹1,01,456/10 gm.
• Silver bullion rate in New Delhi— ₹1,14,360/kg.
• MCX Silver 999 rate in New Delhi — ₹1,14,381/kg.
Gold and Silver Prices in Kolkata — August 7
• Gold bullion rates in Kolkata— ₹1,01,280/10 gm.
• MCX Gold rate in Kolkata — ₹1,01,456/10 gm.
• Silver bullion rate in Kolkata— ₹1,14,410/kg.
• MCX Silver 999 rate in Kolkata — ₹1,14,381/kg.
Gold and Silver Prices in Bengaluru — August 7
• Gold bullion rates in Bengaluru— ₹1,01,500/10 gm.
• MCX Gold rate in Bengaluru — ₹1,01,456/10 gm.
• Silver bullion rate in Bengaluru— ₹1,14,650/kg.
• MCX Silver 999 rate in Bengaluru — ₹1,14,381/kg.
Gold and Silver Prices in Hyderabad — August 7
• Gold bullion rates in Hyderabad— ₹1,01,580/10 gm.
• MCX Gold rate in Hyderabad — ₹1,01,456/10 gm.
• Silver bullion rate in Hyderabad— ₹1,14,740/kg.
• MCX Silver 999 rate in Hyderabad — ₹1,14,381/kg.
Gold and Silver Prices in Chennai — August 7
• Gold bullion rates in Chennai— ₹1,01,720/10 gm.
• MCX Gold rate in Chennai — ₹1,01,456/10 gm.
• Silver bullion rate in Chennai— ₹1,14,890/kg.
• MCX Silver 999 rate in Chennai — ₹1,14,381/kg.
Disclaimer: This story is for educational purposes only. 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.
