Gold and silver experienced volatile swings on August 8, influenced by geopolitical tensions, bond yields, and macroeconomic indicators, with domestic prices showing city-to-city variations amid ongoing global uncertainty.
Gold and silver prices were volatile on August 8 as investors weighed geopolitical tension and shifting bond yields. Gold futures on the Multi Commodity Exchange opened higher and briefly moved up to an intraday peak, while silver also saw early buying before easing later in the session. In overseas trade, COMEX gold and silver were also firmer, reflecting the same preference for defensive assets that has supported bullion in recent sessions. According to the India Bullion and Jewellers Association’s daily market reports, such moves are shaped not only by futures trading but also by broader macro-economic signals and ETF flows.
In the domestic market, rates varied by city and by purity. On August 9, 24-carat gold was quoted at ₹15,235 a gram in Mumbai, ₹15,255 in New Delhi and ₹15,164 in Chennai, while 22-carat and 18-carat prices tracked lower, as is standard in India’s jewellery trade. Kolkata, Bengaluru, Hyderabad and Kerala were broadly in line with Mumbai on the 24-carat measure, underlining how closely local pricing follows national and international bullion benchmarks.
The latest swings come after gold climbed to a seven-week high earlier in the week, helped by lower US Treasury yields and renewed demand for assets seen as a haven in times of uncertainty. IBJA’s bullion reports show that India’s daily gold price is influenced by a mix of spot-market quotations, COMEX futures, the dollar and wider economic indicators, as well as seasonal buying for festivals and weddings. That means even when global prices strengthen, domestic buyers can still see sharp city-to-city differences depending on local demand and taxes.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
