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The price of gold, which has been falling continuously for the last four trading days, has seen a rise again today i.e. on 8th July 2025.
Gold Silver rates playing hide and seek (Source: Internet)
New Delhi: This increase in the price of gold is being seen due to the turmoil in the international market and the new trade decisions of America. After the announcement of imposing heavy tariffs (25 to 40 percent) on 14 countries, including Japan and South Korea, by US President Donald Trump, there is turmoil in the global market. This has a direct impact on the price of gold in India.
Today, the price of 24-carat gold on the Multi Commodity Exchange (MCX) was Rs 97,118 per 10 grams, while 22-carat gold was recorded at Rs 89,283 per 10 grams. In the bullion market, 24-carat gold is being sold at the rate of Rs 97,520 and 22-carat gold at the rate of Rs 89,393 per 10 grams, reports Dynamite News correspondent.
Know the latest gold prices in major cities today.
Delhi: 24-carat gold ₹97,240 per 10 grams, 999 fine rate ₹1,079.6
Kolkata: 24-carat gold ₹97,280 per 10 grams, 999 fine rate ₹1,080
Mumbai: 24-carat gold ₹97,400 per 10 grams, 999 fine rate ₹1,081.5
Hyderabad: 24-carat gold ₹97,560 per 10 grams, 999 fine rate ₹1,083.2
Chennai: 24-carat gold ₹97,690 per 10 grams, 999 fine rate ₹1,084.6
Why is the price of gold increasing?
The price of gold depends on many factors, such as movement in the international market, the performance of the rupee against the dollar, customs duty, and the exchange rate. When there is uncertainty in the global market, investors consider gold as a safe investment instead of the stock market. This is the reason why the demand for gold increases during economic instability around the world, which also drives up the prices.
The announcement of increasing tariffs by the US has made the global trade environment tense. Due to this, the safe investment image of gold is once again attracting investors.
Importance of gold in India
In India, gold is not only seen as a jewel, but it is also a symbol of social prestige and prosperity. Buying gold in weddings, festivals, and religious events is considered auspicious. This is the reason why India is among the largest gold-consumer countries in the world.
Even in the era of inflation and economic instability, gold has always given better returns. This is the reason why it is also seen as a safe investment and future savings in Indian families.
In recent times, due to global events, the price of gold has once again risen. If this situation continues, then gold may become more expensive in the coming days. In such a situation, it is important for investors and buyers to be cautious.
