Gold Rates In India Today, 8th March: 24K/100g Gold Prices Soars Up By Rs.5,500; Silver Unchanged

Today's gold prices in India saw a sharp increase after two consecutive days of decline of Rs. 8,200 per 100 grams. As the world celebrates International Women's Day 2025, gold rates have risen. On the global front, the latest gold prices surged after the U.S. jobs report showed lower-than-expected job growth in February. This fueled speculation that the Federal Reserve may soon cut interest rates, boosting investor sentiment in the gold and silver markets.

Gold prices in India today

As of today, 8th March 2025, 24-carat gold rates in India stood at Rs. 87,710 per 10 grams after a jump of Rs. 550, whereas the 22-carat gold rates rose by Rs. 500 to cost Rs. 80,400. In a similar line, the 18-carat gold rates in India are now costlier and cost Rs. 65,780 after a rise of Rs. 400.

Just like that, 100 grams of 24-carat gold retails at Rs. 877,100 with a rise of Rs. 5,500, and 22-carat gold per 100 g retails at Rs. 8,04,000 an increase of Rs. 5,000 per 100 grams, and 18-carat gold per 100 grams rose by Rs. 4,000 to retail at Rs. 6,57,800.

Gold Prices in Major Cities in India

Most of the Indian cities are experiencing a similar price drop. Here are gold prices in some of the major cities:

Silver rates in India today

Silver prices in India today maintained stability and mirrored the previous day's rates. Silver rates in India per kilogram cost Rs. 99,100 per kg. The price of 100 grams of silver was Rs. 9,910.

MCX Gold and Silver Futures Price

Gold prices on the MCX (Multi Commodity Exchange) today extended gains. Gold futures due to mature on April 4, 2025, slipped by 0.57% to Rs. 85,820 at the end of Friday's close. Silver futures, with an expiration date of March 5, 2025, also dipped this morning, trading 0.08% lower to close at Rs. 97,280.

Spot Gold and Spot Silver Prices

According to Reuters, as of March 7, 2025, the spot price of gold was $2,918.20 per ounce, while silver was trading at $32.58 per ounce. Over the past year, gold has experienced significant growth, increasing by approximately 31.6% and reaching a record high of $2,740.37 per ounce. This upward trend is anticipated to continue, with Goldman Sachs projecting gold prices to reach $2,900 per ounce by early 2025, driven by factors such as lower interest rates and sustained central bank demand. Similarly, silver has seen substantial gains, with prices rising 21% this year.

Market Experts on Gold Price in India Outlook

According to Nirmal Bang Securities, Gold fell on Friday as investors studied the latest developments around tariffs and their impact on the US economy and Federal Reserve decisions. President Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US's two largest trading partners. Trump signed orders Thursday paring back the tariffs, which are related to illegal immigration and fentanyl tracking, until April 2. That is the date when the president is expected to start unveiling plans for so-called reciprocal duties on nations around the world as well as sector-specific duties. The decision marks a significant reversal by Trump, who on Tuesday had announced the largest tariff increase in a century only to back down 48 hours later as stocks were hammered and Republicans expressed concern about the economic consequences. A slew of tariff headlines in recent days have created large swings in equities and kept investors on edge. In the bond market, traders sold Treasuries amid mounting conviction that a trade-induced growth slowdown will lead the Fed to cut interest rates multiple times this year. Both lower borrowing costs and declining yields tend to benefit gold, as it doesn't pay interest. Elsewhere, traders will be parsing nonfarm payrolls data on Friday for any further signs of a slowing labor market, which would boost the odds of more Fed rate cuts."