Gold Rate In India Reverses Losses: 24K Gold Price Up Rs 5,500 per gram on July 8; Check Latest Rates

Gold Rate in India Today: The relief for retail gold jewellery buyers was short-lived as the gold rate today surged significantly, reversing its losses despite improvement in investors sentiment after United States President Donald Trump extended the tariff deadlines to 1 August.

Gold rate in India jumped by Rs 5,500 per 100 gram on Tuesday reversing the losses it made on Monday. The price of the yellow metal is significantly fluctuating as it appears to be a safe-haven among investors during global and economic uncertainty.

Gold Rate in India Today

The price of 24-karat gold in India, surged by Rs 55 per gram to Rs 9884 per gram on Tuesday. In contrast, the price of 22-karat gold in India increased by Rs 50 to Rs 9,060 per gram. Likewise, the rate of 18-karat gold in India surged by Rs 41 per gram to Rs 7413 per gram.

On Monday, the gold rate in India had declined by Rs 54 per gram for 24 karat. There has been a significant surge in the price of gold in India. Since the beginning of the year 2025, the gold rate in India has increased by more than 25%.

"Gold began the week on a positive note, buoyed by a weaker dollar and a push from technical buying as prices reclaimed the $3,300 mark. Early support came after reports that President Trump personally urged Fed Chair Powell to lower rates to 1%, raising hopes of monetary easing. However, those hopes were soon dampened by Powell's hawkish tone at the ECB Forum, where he emphasized patience despite inflation expectations, causing gold's upside momentum to falter," noted Riya Singh - Research Analyst, Commodities and Currency

Silver Rate in India Today

The price of silver in India remained stagnant at Rs 110 per gram and Rs 1,10,000 per kilogram. Despite its stable growth trajectory, the price of silver in India and across the world has remained at an all-time high mark due to a surge in industrial demand. For retail jewellery buyers, silver appears as an affordable alternative to gold for jewellery purchase.

Gold Price Outlook

Gold prices are likely to consolidate on Tuesday, and present a buying opportunity for investors, according to brokerage Nirmal Bang. "Gold prices are expected to pullback. One can buy at 97000 with a stop loss of 96750 for the target at 97500- 97700. One can also sell from 97850 with a stop loss of 98150."

Silver Price Outlook

"Silver prices are expected to rise. One can buy at 108000 with a stop loss of 107000 for the target 109000-110000," added Nirmal Bang in its report.

"For silver, which serves both as an industrial metal and a safe-haven asset, this backdrop is fueling physical demand, particularly from sectors like electronics and solar, where manufacturers may accelerate stockpiling to hedge against potential supply disruptions. On the technical front, silver's recent breakout above $36.30 and retest of $36.84 underscored bullish strength, although some profit-taking dragged it back from the recent peak of $37.22," added Singh.

Gold Rate in Indian Cities

There has been a significant surge in the price of gold in India on Monday. The price of 24, 22, and 18 karat gold in Delhi stood at Rs 9,899 per gram, Rs 9,075 per gram and Rs 7425 per gram respectively.

Bangalore gold rate today increased in alignment with the surge in the prices of the precious metal across the country. The 24, 22, and 18 karat gold rates in Bangalore surged to Rs 9,884 per gram, Rs 9060 per gram and Rs 7413 per gram respectively.

Delhi gold rates, as usual, remained at a higher level. The price of 24 karat gold in Delhi stood at Rs 9,899 per gram. Likewise, the price of 22 and 18 karat gold in Delhi surged to Rs 9075 and Rs 7425 per gram.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.