Gold Rate in India Jumps For 2nd Day! Silver Surges Too: Will Gold Price Rise Today Amid Iran-US Talks?

Gold Rate in India Outlook: The price of 24 karat, 22 karat and 18 karat gold in India continued to rally for the second consecutive session on Thursday, May 7. The rally in gold prices in India mirrored the strengthening sentiment in the international bullion market. The recent gold price rally is fuelled by optimism around Iran-US peace talks. Silver rate in India also saw an uptick in the last two days.

As we gear up for the coming session on Friday, let's understand the key factors that can impact gold price movement today, ie Friday, May 8.

Gold Rate in India Today

The price of 24 karat gold in India surged by Rs 87 per gram to Rs 15,300 per gram, as per Goodreturns data at 11 pm on Thursday, May 7. Which means that per 10 gram of 24 karat gold in India became expensive by Rs 870 per gram to Rs 1,53,000 on Thursday.

The rate of 22 karat gold in India surged by Rs 80 per gram to Rs 14,025 per gram on Thursday. Which means that per 10 grams of 22 karat gold in India became expensive to Rs 1,40,250.

The rate of 18 karat gold in India became expensive by Rs 61 per gram to Rs 11,475 per gram on May 7. Which means that per 10 grm of 18 karat gold became expensive to Rs 1,14,750 on Thursday.

International Gold Rate Today

Gold moved above 4,700 USD per troy ounce on 7 May 2026, as traders reacted to easing inflation fears and falling oil, as per Trading Economics data. The move followed reports of a possible US-Iran understanding that could end recent conflict and support a gradual reopening of the Strait of Hormuz.

Spot prices hit 4,709.48 USD/t.oz, according to contract for difference data, up 0.38% from the previous session. Over the last month, gold slipped 0.24%, yet it remains 42.01% higher than a year earlier, underlining how demand stays strong despite recent volatility.

Gold Price Outlook

Gold rate in India is likely to showcase a range-bound movement on Friday, as it will reflect the previous session's surge in the international gold market. In the long-term, precious metal is likely to see a strong trajectory, with some mild correction in short-term.

"Gold has recovered from the $4,500-4,550 (~ ₹1,49,000) support zone, with resistance now targeted at $4,800-4,850 (~ ₹1,55,000)," as per Augmont Bullion Daily report. Silver has met the $78 (~₹2,56,000) upside target; subsequent resistance levels stand at $80 (~₹2,60,000) and $82 (~₹2,65,000).