Gold and silver prices fell sharply in India on July 8, 2026. Check today’s latest gold rate, silver price, city-wise rates and reasons behind the decline.
Gold Silver Price Today: Gold and silver prices witnessed a significant decline in the Indian bullion market on July 8, 2026, offering relief to jewellery buyers and investors. The fall in domestic prices comes amid weakness in global precious metal markets and a stronger US dollar.
After several sessions of volatility, both gold and silver opened lower on Wednesday, making it an attractive opportunity for those planning to purchase jewellery or invest in precious metals.
Gold Prices Fall in Global Market
International bullion markets remained under pressure as gold prices slipped during early trading. On the COMEX exchange, gold declined by nearly 0.38%, trading at around $4,141 per ounce.
Silver also extended its losses, falling about 0.42% to trade near $61.07 per ounce. Analysts believe stronger demand for the US dollar and uncertainty surrounding future interest rate decisions by the US Federal Reserve have weighed on precious metal prices.
MCX Gold and Silver Rates Also Decline
The weakness in international markets was reflected in India’s domestic futures market as well.
On the Multi Commodity Exchange (MCX), gold traded in the range of Rs 1.44 lakh to Rs 1.45 lakh per 10 grams, while silver was seen trading around Rs 2.29 lakh to Rs 2.30 lakh per kilogram.
The latest decline follows several days of price fluctuations, giving buyers a chance to purchase at comparatively lower levels.
Gold and Silver Rates in Major Indian Cities
In New Delhi, the price of 24K gold stood at Rs 1,44,970 per 10 grams, while 22K gold was priced at Rs 1,32,889 and 18K gold at Rs 1,08,728. Silver was available at Rs 2,29,120 per kilogram.
In Mumbai, 24K gold was priced at Rs 1,45,120 per 10 grams, 22K gold at Rs 1,32,943, and 18K gold at Rs 1,09,590. Silver traded at Rs 2,30,760 per kilogram.
In Patna, 24K gold was quoted at Rs 1,45,040, while 22K and 18K gold were priced at Rs 1,32,870 and Rs 1,09,530 per 10 grams, respectively. Silver stood at Rs 2,30,640 per kilogram.
In Jaipur, 24K gold was available at Rs 1,44,410 per 10 grams, 22K gold at Rs 1,32,126, and 18K gold at Rs 1,09,558. Silver was priced at Rs 2,29,060 per kilogram.
In Kanpur, 24K gold traded at Rs 1,44,470, 22K gold at Rs 1,32,181, and 18K gold at Rs 1,10,110 per 10 grams. Silver was quoted at Rs 2,29,150 per kilogram.
Why Are Gold and Silver Prices Falling?
The latest decline in precious metal prices is mainly driven by weakness in the international market and the strengthening of the US dollar. A stronger dollar generally makes gold more expensive for overseas buyers, reducing demand and putting pressure on prices.
Additionally, investors remain cautious ahead of signals from the US Federal Reserve regarding future interest rate policy. Expectations of higher interest rates often reduce the appeal of non-yielding assets such as gold.
Is This the Right Time to Buy Gold?
According to market experts, the recent correction could be a good opportunity for consumers planning to buy jewellery or invest in gold and silver. However, precious metal prices remain highly volatile and may continue to fluctuate depending on global economic developments, inflation data and central bank decisions.
Buyers are advised to check the latest local bullion rates before making any purchase.
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