Is Now the Time to Buy Gold? May 8 Prices Revealed City-Wise
Gold and Silver Prices Today in India – May 8, 2025
Check Latest Rates in Mumbai, Delhi, Chennai, Hyderabad, Bengaluru & Kolkata
Gold and silver prices continue to move amid global uncertainty and geopolitical tensions. On May 8, 2025, bullion prices remained steady after the U.S. Federal Reserve kept interest rates unchanged on May 7, citing persistent inflation concerns.
This decision was expected and aligns with forecasts that gold prices would cool slightly this week. However, experts remain divided on the future of precious metal prices due to global conflict zones — particularly rising tensions between India and Pakistan and the renewed violence between Israel and Gaza.
Why Are Gold Prices So High Right Now
Gold is traditionally seen as a “safe haven” investment in uncertain times. And that’s exactly what we’re seeing now.
Here are some key reasons behind the surge in gold prices:
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Geopolitical Instability: Tensions in South Asia and the Middle East are pushing investors toward gold.
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U.S. Federal Reserve Policy: Interest rates have been held steady, supporting gold as a non-yielding asset.
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Historical Performance: Gold has returned a 30% rise over the past year, with a 15% CAGR since 2001 and has beaten inflation by 2–4% since 1995.
National Gold and Silver Rates – May 8, 2025
As per the MCX (Multi Commodity Exchange) and Indian Bullion Association (IBA) at 6:20 am IST:
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MCX Gold (10 gm): ₹97,051
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24-Carat Gold (IBA): ₹97,380/10 gm
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22-Carat Gold (IBA): ₹89,265/10 gm
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MCX Silver (1 kg): ₹95,730
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Silver (999 Fine, IBA): ₹95,840/kg
City-Wise Gold and Silver Prices – May 8, 2025
Let’s take a quick look at how much gold and silver cost in your city today:
Mumbai
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Gold Bullion (10 gm): ₹97,210
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MCX Gold: ₹97,380
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Silver Bullion (1 kg): ₹95,120
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MCX Silver (999): ₹95,660
Chennai
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Gold Bullion (10 gm): ₹97,490
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MCX Gold: ₹97,380
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Silver Bullion (1 kg): ₹95,940
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MCX Silver (999): ₹95,660
Kolkata
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Gold Bullion (10 gm): ₹97,080
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MCX Gold: ₹97,380
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Silver Bullion (1 kg): ₹95,530
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MCX Silver (999): ₹95,660
Hyderabad
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Gold Bullion (10 gm): ₹97,360
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MCX Gold: ₹97,380
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Silver Bullion (1 kg): ₹95,810
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MCX Silver (999): ₹95,660
Bengaluru
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Gold Bullion (10 gm): ₹97,280
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MCX Gold: ₹97,380
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Silver Bullion (1 kg): ₹95,740
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MCX Silver (999): ₹95,660
New Delhi
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Gold Bullion (10 gm): ₹94,040
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MCX Gold: ₹97,380
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Silver Bullion (1 kg): ₹95,500
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MCX Silver (999): ₹95,660
Investment Outlook: Should You Buy Gold Now
With global uncertainties rising, many financial experts believe now is a good time to hold or gradually buy gold, especially if:
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You’re looking to hedge against inflation
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You prefer long-term, stable returns
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You want portfolio safety during geopolitical shocks
However, short-term traders may want to wait for a potential dip, as prices may adjust if peace talks resume or interest rates are revised.
Before purchasing:
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Always check purity levels (22k vs 24k)
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Verify rates via IBA or trusted jewellers
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Consider making charges and taxes
Online purchases should be made only from certified platforms with BIS hallmarking.
Gold remains a strong asset in these uncertain times, and silver too is closely tracking geopolitical trends. With city-wise gold prices hovering around ₹97,000 and silver near ₹96,000 per kg, investors and buyers should stay informed and act according to their financial goals.
