Gold prices continued their upward march in India on August 8, 2026, supported by a weaker US dollar, strong international bullion prices and changing expectations around US interest rates. In Delhi, the price of 24-carat gold climbed to ₹1,50,050 per 10 grams, while Mumbai and Kolkata recorded a rate of ₹1,49,900 per 10 grams.

The rally in the domestic market comes alongside a sharp rise in global gold prices. Spot gold in the international market was quoted at around $4,336.02 per ounce, with the precious metal gaining more than 7% so far this week.

Gold prices have also received support from recent US employment data, which has influenced expectations regarding the Federal Reserve's next move on benchmark interest rates.

US Jobs Data Gives Fresh Support to Gold

According to the figures cited in the report, US non-farm payrolls declined by 23,000 jobs in July.

Weakness in employment data can affect expectations around monetary policy because the Federal Reserve closely watches labour-market conditions while deciding interest rates.

If economic indicators show signs of slowing, investors may expect the central bank to avoid aggressive rate increases.

This matters for gold because the precious metal does not generate interest. When interest rates rise, yield-bearing assets such as bonds can become relatively more attractive, which may reduce investor interest in gold. Conversely, expectations of stable or lower interest rates can support bullion prices.

The latest employment figures have therefore added to optimism among gold traders.

Gold Gains More Than 7% in Global Market This Week

International gold prices have witnessed a strong rally during the week.

Spot gold was trading at around $4,336.02 per ounce, according to the data cited in the report. The metal has climbed more than 7% during the week, helping push domestic prices toward and above the ₹1.50 lakh mark in several Indian cities.

The movement in global markets is particularly important for India because the country imports a large portion of its gold requirements.

Apart from international bullion rates, domestic gold prices are also influenced by the rupee-dollar exchange rate, import-related costs, taxes and local demand.

Geopolitical Developments Also in Focus

Investors are also closely tracking developments involving the United States and Iran.

According to the report, US President Donald Trump expressed hope that the conflict with Iran could end soon.

A possible agreement between the two countries could help restore normal movement through the Strait of Hormuz, one of the world's most important maritime routes for energy shipments.

Expectations of reduced geopolitical tensions have eased some concerns over inflationary pressures linked to energy supplies.

Lower inflation concerns could further reduce expectations of aggressive interest-rate increases by the US Federal Reserve, which in turn can influence demand for precious metals such as gold.

Gold Price in Delhi Today

Delhi recorded one of the highest gold prices among the major cities listed.

The price of 24-carat gold stood at ₹1,50,050 per 10 grams, while 22-carat gold was priced at ₹1,37,560 per 10 grams.

For buyers planning to purchase jewellery or investment-grade gold, the final price may be higher after adding GST, making charges and other applicable costs.

Gold Price in Mumbai and Kolkata

Gold rates in Mumbai and Kolkata were identical according to the city-wise figures provided.

In both cities, 24-carat gold was priced at ₹1,49,900 per 10 grams, while 22-carat gold stood at ₹1,37,410 per 10 grams.

Gold Price in Chennai

In Chennai, the price of 24-carat gold reached ₹1,49,990 per 10 grams.

The 22-carat variety was quoted at around ₹1,37,490 per 10 grams, according to the city-wise table provided.

Gold Rates in Major Indian Cities on August 8

Here are the latest 22-carat and 24-carat gold prices per 10 grams:

Delhi, Jaipur, Lucknow and Chandigarh recorded 24-carat gold at ₹1,50,050 per 10 grams, while Mumbai, Kolkata and Hyderabad were slightly lower at ₹1,49,900.

What Is Happening to Silver Prices?

While gold remained firm, silver showed some weakness in the domestic market on the morning of August 8.

Silver was quoted at around ₹2,39,900 per kilogram in India.

In the international market, spot silver stood at approximately $63.29 per ounce.

The differing movement between gold and silver shows that both precious metals can react differently to changes in industrial demand, investor positioning, currency movements and global economic expectations.

Why Are Gold Prices Rising?

Several factors are currently supporting gold prices.

A softer US dollar generally makes dollar-denominated gold cheaper for buyers using other currencies, potentially increasing global demand.

Expectations around Federal Reserve interest rates are another major factor. If traders believe the central bank is less likely to raise rates, gold can become relatively more attractive because the opportunity cost of holding a non-interest-bearing asset declines.

Geopolitical developments, inflation expectations and safe-haven demand can further influence bullion prices.

What Should Gold Buyers Watch Next?

With gold trading near record-high levels, consumers and investors should closely follow international bullion trends, the US dollar, Federal Reserve policy expectations and geopolitical developments.

Domestic demand will also become increasingly important as India moves toward the festive and wedding seasons, periods when gold purchases traditionally rise.

For August 8, 2026, the broader trend remains bullish. Gold has crossed the ₹1.50 lakh-per-10-gram mark in several major Indian cities, while international prices have gained more than 7% during the week.

Buyers should, however, remember that quoted market rates do not usually include jewellery-making charges and other applicable costs, so the final retail purchase price can vary from one jeweller to another.