Gold Rate In India Continues Record Rally: 24K/100 Grams Gold Up Rs 26,300 In 6 Days: August 8 Gold Outlook

Gold rates in India extended their record rally on August 7, with 24-carat gold of 10 grams surging to hit a new all-time high of Rs 1,02,550. Gold has been rising for six days, due to uncertain trade tensions between India and the US, and hopes of a 25-basis-point rate cut in the October policy.

100 Grams and 10 grams of gold prices zoomed by a whopping Rs 26,300 and Rs 2,630 in 24 carats since August 2nd. However, on Friday, August 8th, gold prices are expected to be volatile, especially on MCX.

At retail stores, gold demand is expected to be high due to the upcoming festival of Raksha Bandhan.

Gold Rates In India:

On August 7th, 10 grams of gold price stood at Rs 1,02,550 in 24 carat and at Rs 94,000 in 22 carat. These prices are at new all-time highs.

Also, 100 grams of gold is available at Rs 10,25,500 in 24 carat and at Rs 9,40,000 in 22 carat, which are also new records.

Gold Prices Record Rally In Past 6 Days:

100 grams gold price zoomed by Rs 2,200 on August 7th, while price was up by Rs 1,100 on August 6th. Further, 100 grams gold price in 24 carat rallied by Rs 8,200 on August 5th, which is the second biggest single-day rally of August 2025. Further, this gold was up by Rs 500 on August 4.

However, prices were unchanged on August 4th. But on August 2nd, the price of 100 grams of gold skyrocketed by Rs 15,300, which is the biggest single-day rally of August 2025. Since August 2nd, gold has recorded an extraordinary surge.

Gold Prices In Your City:

Gold Rates In Chennai:

The price of the cheapest gold in Chennai is currently at Rs 10,255 per gram for 24 karat gold, at Rs 9,400 per gram for 22 karat gold and at Rs 7,760 per gram for 18 karat gold (also called 999 gold).

Gold Rates In Delhi:

The price of gold in Delhi is at Rs 10,270 per gram for 24 karat gold, at Rs 9,415 per gram for 22 karat gold and at Rs 7,704 per gram for 18 karat gold (also called 999 gold).

Silver Rates In India:

Silver prices in India are also nearing their record high. 1Kg Silver Price is currently at Rs 1,17,000. While the cheapest silver price is at Rs 117 per 1 gram.

The all-time high of silver is currently at Rs 1,19,000 per 1kg, which was recorded last month.

MCX Gold Price Futures + MCX Silver Price Futures:

MCX gold price futures with October 2025 expiry, closed marginally down by Rs 22 to Rs 1,01,446 per 10 grams. However, the bullion had touched a new all-time high of Rs 1,02,155 per 10 grams during the August 7th trading session.

Meanwhile, MCX silver price futures with September 2025 expiry, stood at Rs 1,14,215 per 1 kg, down by Rs 71. This comes after the precious metal touched an intraday high of Rs 1,15,417 per 1kg, which was near its all-time high of Rs 1,16,641 per 1kg.

Gold Price Outlook On August 8:

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, with limited impactful data lined up this week, focus remains on global trade tariffs and fresh Russian sanctions-both contributing to elevated gold prices. Unless there is a resolution or breakthrough in trade talks, gold is expected to stay buoyant.

He added, "A strong profit booking phase may emerge only if prices breach below Rs 99,500; until then, any dip is seen as a buying opportunity. Gold is likely to remain volatile within the Rs 99,500-Rs 1,03,000 range."

If MCX gold touched Rs 1,03,000 per 10 grams, then it will be its new high.

Additionally, Kaynat Chainwala, AVP- Commodity Research, Kotak Securities said, gold prices received support from the weaker U.S. dollar which slipped to a one-week low of 98.1 amid signs of economic softness coupled with dovish commentary from Minneapolis Fed President Neel Kashkari and Fed Governor Lisa Cook. Market expectations for a rate cut at the September FOMC meeting surged to 95%, up sharply from 40% last Friday. Meanwhile, Bloomberg reported that gold bullion stocks in Shanghai Futures Exchange-linked warehouses reached a record high, with over 36 tons registered for delivery. This reflects robust demand in China, partly driven by a pricing gap between domestic and international markets.

Spot Gold Price Today:

COMEX gold price rose to trade around $3,390 per ounce on Thursday, which is its highest level in past two weeks. The price was driven by heightened trade tensions and hope of rate cut from Fed.

According to Trading Economics, President Donald Trump's sweeping tariffs ranging from 10% to 50% took effect, targeting dozens of countries. A 100% tariff on imported semiconductors was also announced. While some exemptions apply to firms committing to US production, the move stoked market uncertainty. Meanwhile, Minneapolis Fed President Neel Kashkari signaled the need for rate cuts amid a slowing US economy. Jobless claims data reinforced that view, with both initial and continuing claims topped forecasts, with the latter hitting a three-year high. Traders now see a 91-93% chance of a 25 bps Fed rate cut in September, according to CME FedWatch.

In the early hours of Friday, COMEX traded near $3,400 levels.

Spot Silver Price Today:

Silver also surged sharply in the international market, to hit $38 per ounce. This will be its highest level in a week.

In the early hours of Friday, spot silver taded up by 1.3% to near $39.