On May 8, 2025, gold and silver prices in India experienced significant fluctuations amid rising tensions between India and Pakistan. Gold prices dropped sharply, with 24-carat gold falling by ₹1,402 to reach ₹96,024 per 10 grams. Silver also saw a decline, opening at ₹94,600 per kilogram, down ₹1,200 from previous levels.
The backdrop of these price changes can be traced back to the escalating conflict between India and Pakistan, which intensified following the Pulwama attack on April 22, 2025. Subsequent airstrikes by India further heightened tensions, impacting market sentiments and leading to a drop in precious metal prices. According to reports, the geopolitical situation has led to gold and silver being viewed as safe-haven investments, prompting increased demand amid uncertainty.
As of the morning of May 8, the prices for gold and silver were as follows: 24-carat gold was trading at ₹96,024 per 10 grams, while 22-carat gold was priced at ₹87,958. For silver, the price stood at ₹94,600 per kilogram. These prices reflect a significant drop from the highs seen earlier in the year, where gold reached an all-time high of ₹99,100 per 10 grams on April 22.
In the broader market, fluctuations in gold and silver prices are influenced by various factors, including international demand, currency exchange rates, interest rates, and government policies. The U.S. Federal Reserve's decision to maintain interest rates unchanged on May 7, 2025, also contributed to the recent volatility in precious metal prices.
In major Indian cities, the prices for gold and silver varied slightly. For instance, in Mumbai, 24-carat gold was priced at ₹97,210, while in Chennai, it was slightly higher at ₹97,490. Meanwhile, silver prices in Mumbai were around ₹95,120, indicating regional variations within the market.
Experts suggest that the current geopolitical tensions, particularly the ongoing conflict between India and Pakistan, are likely to keep gold and silver prices volatile in the near term. Investors are advised to stay informed about market trends and consult with financial advisors before making any significant investments in precious metals.
In addition to the immediate market responses, the long-term outlook for gold and silver remains cautiously optimistic. With global economic uncertainties and the potential for further geopolitical developments, many analysts believe that gold will continue to be a sought-after asset for risk-averse investors.
As of May 8, 2025, the following are the reported prices for gold and silver across various Indian cities:
- Delhi: 24-carat gold at ₹97,380, 22-carat gold at ₹89,265, silver at ₹95,500.
- Mumbai: 24-carat gold at ₹97,210, 22-carat gold at ₹89,000, silver at ₹95,120.
- Chennai: 24-carat gold at ₹97,490, 22-carat gold at ₹89,000, silver at ₹95,940.
- Kolkata: 24-carat gold at ₹97,080, 22-carat gold at ₹89,000, silver at ₹95,530.
- Hyderabad: 24-carat gold at ₹97,360, 22-carat gold at ₹89,000, silver at ₹95,810.
- Bangalore: 24-carat gold at ₹97,280, 22-carat gold at ₹89,000, silver at ₹95,740.
With the ongoing situation in South Asia and the potential for further developments, those looking to invest in gold and silver should remain vigilant. The market is subject to rapid changes, and prices could fluctuate based on both local and international events.
In conclusion, the precious metals market is currently in a state of flux, driven by geopolitical tensions and fluctuating demand. Investors should keep a close eye on the situation and be prepared for further price adjustments in the days to come.
