On Friday, August 8, gold prices in India touched a record high, driven by strong festive-season demand and rising global tensions. The 10-gram rate for 24k gold crossed ₹1.03 lakh, marking another milestone in the ongoing rally.
Gold & Silver Rates in India Today
On Friday, 24-carat gold was priced at ₹10,331 per gram, ₹9,470 for 22-carat, and ₹7,749 for 18-carat. The 10-gram 24-carat rate hit an all-time high of ₹1,03,310, up ₹760 from Thursday’s ₹1,02,550. For 100 grams, the price stood at ₹10,33,100, marking the highest ever, after a sharp overnight rise of ₹7,600.
While the price of 22k of 100 grams of gold will cost Rs 9,47,000 today, which was Rs 9,40,000 on Thursday, representing a price surge of Rs 7000 overnight, the price of 22k of 10 grams of gold reached a record high of Rs 94,700 today compared to Rs 94,000 yesterday, representing a price gain of Rs 700. 18k of 10 grams of gold today hit a record high of Rs 77,490 in India, up Rs 580 from yesterday’s price of Rs 76,910; on Friday, 18k of 100 grams of gold will cost Rs 7,74,900, which is Rs 5,800 more expensive than it was on Thursday at Rs 7,69,100.
In comparison to yesterday, the price of silver in India remained stable at Rs 117 per gram and Rs 1,17,000 per kilogram.
MCX Gold Outlook Today “On the technical front, MCX Gold continues to remain in an uptrend on the daily chart, currently trading near its all-time high levels with strong momentum. RSI is above 60, and the price is well above short-term EMAs; however, it is trading far above support levels, making the risk- reward ratio unfavorable for a trade.
Support is currently placed at 100,240-99,400, while resistance is seen at 102,500. Traders are advised to continue holding their bullish positions in MCX Gold,” commented Abhishek M Pelu – Research Analyst at Way2Wealth Brokers. Gold & Silver Rates Fundamental Outlook Today “Gold and silver prices are trading higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range bound to higher for the day; as gold prices gained as traders weighed uncertainty created by President Donald Trump’s latest trade moves, including threatening a 100% tariff on chip imports,” commented the research analysts of Nirmal Bang Securities.