Gold Rates in India Today (March 8, 2025): 24K Gold Surges by ₹5,500 per 100g, Silver Remains Unchanged

Gold prices in India surged today, marking a sharp increase after two consecutive days of decline, with rates rising by ₹5,500 per 100 grams. The price hike comes as International Women’s Day 2025 is observed and follows a weaker-than-expected U.S. job growth report, fueling speculation that the Federal Reserve may cut interest rates, boosting investor confidence in gold markets. As of March 8, 2025, 24-carat gold in India is priced at ₹87,710 per 10 grams after a ₹550 increase, while 22-carat gold rose by ₹500 to ₹80,400 per 10 grams.

The price of 18-carat gold also climbed by ₹400, reaching ₹65,780 per 10 grams. Across major Indian cities, Delhi recorded 24-carat gold at ₹87,860 per 10 grams, while Mumbai, Chennai, and Bangalore saw similar rates of ₹87,710 per 10 grams. Meanwhile, silver prices remained stable, with 1 kilogram of silver priced at ₹99,100 and 100 grams at ₹9,910. On the Multi Commodity Exchange (MCX), gold futures for April 4, 2025, dipped by 0.57% to ₹85,820, while silver futures expiring on March 5, 2025, slipped 0.08% to ₹97,280.

In global markets, spot gold stood at $2,918.20 per ounce, and silver traded at $32.58 per ounce. Over the past year, gold prices have surged by 31.6%, with Goldman Sachs forecasting a potential rise to $2,900 per ounce in early 2025 due to expectations of lower interest rates and strong central bank demand. Market analysts note that ongoing trade policy uncertainties and Federal Reserve decisions could further influence gold prices, making the yellow metal a key focus for investors in the coming months. Stay updated with GoodReturns for the latest financial news and market insights.

Gold Rates in India Today (March 8, 2025): 24K Gold Surges by ₹5,500 per 100g, Silver Remains Unchanged

Gold prices in India experienced a sharp increase today after two consecutive days of decline, during which rates dropped by ₹8,200 per 100 grams. As International Women’s Day 2025 is observed, the price of gold has risen significantly. Globally, gold prices surged following a lower-than-expected U.S. job growth report for February. This has fueled speculation that the Federal Reserve might soon cut interest rates, boosting investor confidence in the gold and silver markets.

Current Gold Prices in India

As of March 8, 2025, the price of 24-carat gold in India climbed to ₹87,710 per 10 grams, marking an increase of ₹550. Similarly, 22-carat gold prices rose by ₹500 to ₹80,400 per 10 grams. The price of 18-carat gold also saw an increase, now standing at ₹65,780 per 10 grams after a ₹400 jump.

Gold Prices Per 100 Grams

• 24-carat gold: ₹8,77,100 (up by ₹5,500)
• 22-carat gold: ₹8,04,000 (up by ₹5,000)
• 18-carat gold: ₹6,57,800 (up by ₹4,000)

 

Gold Prices Across Major Indian Cities

Gold rates vary slightly depending on the city. In Delhi, 24-carat gold is priced at ₹87,860 per 10 grams, while 22-carat gold costs ₹80,550 per 10 grams. In Mumbai, Chennai, and Bangalore, the rates are similar, with 24-carat gold priced at ₹87,710 per 10 grams and 22-carat gold at ₹80,400 per 10 grams.

Silver Prices in India Today

Silver prices remained stable, mirroring the previous day’s rates. The cost of silver per kilogram was ₹99,100, while 100 grams of silver was priced at ₹9,910.

MCX Gold and Silver Futures

Gold futures on the Multi Commodity Exchange (MCX) extended gains today. The gold futures contract maturing on April 4, 2025, dipped by 0.57% to ₹85,820 at the close of trading on Friday. Silver futures, set to expire on March 5, 2025, also slipped by 0.08%, closing at ₹97,280.

Spot Gold and Silver Prices

According to Reuters (as of March 7, 2025), the spot prices were:

• Gold: $2,918.20 per ounce
• Silver: $32.58 per ounce

Over the past year, gold has seen significant growth, rising approximately 31.6% and reaching a record high of $2,740.37 per ounce. This upward trend is expected to continue, with Goldman Sachs forecasting gold prices to hit $2,900 per ounce in early 2025, driven by lower interest rates and sustained central bank demand. Meanwhile, silver prices have gained 21% this year.

Expert Insights on Gold Price Trends

Analysts at Nirmal Bang Securities noted that gold prices fell on Friday due to concerns over tariffs and their impact on the U.S. economy. Recent policy shifts by President Trump—including the exemption of Mexican and Canadian goods from 25% tariffs under the USMCA—created volatility in markets. The bond market saw sell-offs in U.S. Treasuries, strengthening expectations that the Federal Reserve may introduce multiple rate cuts this year. Lower interest rates generally favor gold, as it does not yield interest.

Market participants are closely monitoring nonfarm payroll data for further signs of an economic slowdown, which could increase the likelihood of additional Federal Reserve rate cuts, potentially driving gold prices even higher.