Gold Rates Hit Record High In India Today, 8th Aug: 24K/10 Gms Tops Over Rs 1.03 Lakh; Latest Prediction Here

As the festive season draws closer, safe-haven buying intensifies, and global tensions cause gold prices in India to hit a record high on Friday, August 8. As the festive season approached, rising demand and growing global unpredictability drove bullion to these all-time highs. Another significant milestone in the rally is reached today when the 10-gram rates for 24k gold surpass Rs 1.03 lakh.

Gold & Silver Rates In India Today

In India today, 24 carat gold costs Rs 10,331 per gram, 22 carat gold costs Rs 9,470 per gram, and 18 carat gold costs Rs 7,749 per gram. In India, 24k of gold per 10 grams on Friday was Rs 1,03,310, up Rs 760 from Rs 1,02,550 on Thursday. Similarly, 24k of 100 gms of gold would cost Rs 10,33,100, the highest price ever, after rising Rs 7,600 overnight from yesterday.

While the price of 22k of 100 grams of gold will cost Rs 9,47,000 today, which was Rs 9,40,000 on Thursday, representing a price surge of Rs 7000 overnight, the price of 22k of 10 grams of gold reached a record high of Rs 94,700 today compared to Rs 94,000 yesterday, representing a price gain of Rs 700.

18k of 10 grams of gold today hit a record high of Rs 77,490 in India, up Rs 580 from yesterday's price of Rs 76,910; on Friday, 18k of 100 grams of gold will cost Rs 7,74,900, which is Rs 5,800 more expensive than it was on Thursday at Rs 7,69,100.

In comparison to yesterday, the price of silver in India remained stable at Rs 117 per gram and Rs 1,17,000 per kilogram.

MCX Gold Outlook Today

"On the technical front, MCX Gold continues to remain in an uptrend on the daily chart, currently trading near its all-time high levels with strong momentum. RSI is above 60, and the price is well above short-term EMAs; however, it is trading far above support levels, making the risk- reward ratio unfavorable for a trade. Support is currently placed at 100,240-99,400, while resistance is seen at 102,500. Traders are advised to continue holding their bullish positions in MCX Gold," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Rates Fundamental Outlook Today

"Gold and silver prices are trading higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range bound to higher for the day; as gold prices gained as traders weighed uncertainty created by President Donald Trump's latest trade moves, including threatening a 100% tariff on chip imports," commented the research analysts of Nirmal Bang Securities.

Disclaimer

The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.