Gold and Silver Prices Today (May 8, 2026): Check Latest Rates Across Major Indian Cities

Gold and silver prices in India remained elevated on May 8, 2026, with both precious metals witnessing steady buying interest amid ongoing geopolitical uncertainty, fluctuating global markets, and strong domestic demand. Gold continues to attract investors as a safe-haven asset, while silver is outperforming due to a combination of industrial demand and investment-led momentum.

Analysts believe the bullion market remains highly sensitive to developments in West Asia, movements in the US dollar index, and expectations surrounding future US Federal Reserve interest rate decisions.

Gold Prices Today Across Major Indian Cities

Retail gold prices vary slightly across cities because of local taxes, transportation charges, and regional jewellers’ pricing mechanisms.

Gold Rates Today (Per 10 Grams)

City	24K Gold Price	22K Gold Price	18K Gold Price
Chennai	₹1,53,840	₹1,41,020	₹1,17,720
New Delhi	₹1,53,160	₹1,40,410	₹1,14,910
Ahmedabad	₹1,53,060	₹1,40,310	₹1,14,810
Mumbai	₹1,53,010	₹1,40,260	₹1,14,760
Kolkata	₹1,53,010	₹1,40,260	₹1,14,760
Bangalore	₹1,53,010	₹1,40,260	₹1,14,760
Hyderabad	₹1,53,010	₹1,40,260	₹1,14,760
Kerala	₹1,53,010	₹1,40,260	₹1,14,760
Pune	₹1,53,010	₹1,40,260	₹1,14,760

Chennai continues to trade at a premium compared to most other cities due to stronger jewellery demand and regional pricing structures.

Silver Prices Today Across Indian Cities

Silver prices maintained strong momentum, especially in southern markets where demand remains elevated.

Silver Rates Today

City	Silver Price (10 Grams)	Silver Price (1 Kg)
Chennai	₹2,749	₹2,74,900
Hyderabad	₹2,749	₹2,74,900
Kerala	₹2,749	₹2,74,900
New Delhi	₹2,701	₹2,70,100
Mumbai	₹2,701	₹2,70,100
Kolkata	₹2,701	₹2,70,100
Bangalore	₹2,701	₹2,70,100
Ahmedabad	₹2,701	₹2,70,100

Silver continues to outperform gold in percentage terms as industrial demand remains robust globally.

Why Gold and Silver Prices Are Rising

1. Geopolitical Tensions in West Asia

The biggest factor supporting gold and silver prices is continued geopolitical uncertainty involving the US-Iran conflict and tensions surrounding the Strait of Hormuz.

Investors globally are increasing allocations toward safe-haven assets to hedge against:

• Oil supply disruptions
• Currency volatility
• Equity market uncertainty
• Inflation risks

Any escalation in the Middle East immediately strengthens demand for precious metals.

2. Weakness in the US Dollar

Gold and silver generally move inversely to the US dollar.

A softer dollar index has improved bullion demand globally because metals become cheaper for international buyers using other currencies.

This trend has supported both international and domestic bullion prices.

3. Expectations of US Federal Reserve Rate Cuts

Investors are closely tracking US inflation and employment data.

Market participants increasingly believe the US Federal Reserve may eventually move toward interest rate cuts if economic growth slows further.

Lower interest rates typically benefit gold and silver because precious metals do not offer fixed yields like bonds or deposits.

4. Strong Indian Retail Demand

Domestic jewellery demand remains resilient ahead of upcoming wedding seasons and regional festivals.

Even when international prices witness corrections, Indian retail demand often helps support domestic bullion prices.

Jewellers across major cities continue to report stable demand despite elevated prices.

Silver’s Outperformance Is Drawing Attention

Silver has recently shown stronger momentum than gold due to its dual role as:

• A precious metal
• An industrial commodity

Silver demand continues to benefit from:

• Solar panel manufacturing
• Electronics demand
• EV industry growth
• AI data center expansion
• Green energy infrastructure

This structural industrial demand is helping silver maintain strong long-term support.

Expert Market Outlook

Commodity analysts believe volatility may remain elevated in the near term because bullion prices are currently reacting sharply to geopolitical headlines and macroeconomic data.

Most experts currently recommend:

• Buying gradually on dips
• Avoiding aggressive lump-sum purchases
• Tracking US Federal Reserve signals closely
• Monitoring crude oil and dollar movements

Analysts also believe that any major diplomatic breakthrough in West Asia could temporarily cool safe-haven demand and trigger short-term corrections in gold and silver.

Should Investors Buy Gold and Silver Now?

Long-term investors continue to view gold and silver positively because of:

• Global uncertainty
• Inflation concerns
• Central bank buying
• Currency risks
• Structural industrial demand for silver

However, near-term volatility remains high, making disciplined accumulation strategies more suitable than chasing sharp rallies.

Why are gold prices high in India right now?

Gold prices are elevated mainly because of geopolitical tensions, a weaker US dollar, global safe-haven demand, and strong domestic jewellery buying.

Why is silver outperforming gold?

Silver is benefiting from both investment demand and strong industrial usage in sectors like solar energy, electronics, EVs, and AI infrastructure.

Which city has the highest gold prices today?

Chennai currently has the highest gold prices among major Indian cities due to strong regional demand and local pricing factors.

Will gold prices increase further in 2026?

Future gold prices will depend on geopolitical developments, US Federal Reserve policy decisions, inflation trends, and movements in the US dollar.

Is this a good time to invest in gold and silver?

Experts suggest gradual accumulation during dips instead of aggressive buying, as volatility remains high in global bullion markets.