Gold Rates & Silver Rates Today (08-05-2026) Live: MCX Gold & Silver Record Mild Gains As Oil Prices Climb

Gold rates and silver rates in India witnessed mild upside on Friday, May 8, 2026, as international prices traded with restrained gains due to new rally seen in crude oil prices. Brent crude and US WTI Crude gained by over 1% to trade near 102 per barrel and 96 per barrel. On the other hand, MCX gold traded near Rs 1,52,500 lakh mark and MCX silver held near Rs 2.59 lakh mark.

Spot gold surged to trade over $4,710 per ounce and spot silver zoomed near $80 per ounce. The performance in safe haven is cautious due to renewed clash between US and Iran that has weakened hopes for a near term peace agreement. And this further has escalated inflation worries.

US Central Command said American forces intercepted Iranian attacks and launched defensive strikes while guided missile destroyers moved through the Strait of Hormuz, while stressing that the military does not seek further escalation. Meanwhile, the Trump administration is awaiting Iran's response to a proposal aimed at reopening Hormuz and ending the nearly 10-week conflict, with reports indicating that Tehran is expected to respond through Pakistan within the next two days, as per Trading Economics. US dollar also climbed above 98 mark, extending from its previous sessions.

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May 08, 2026, 11:11 am IST

Silver Rates Today Live Updates: Spot Silver Above

Spot silver outperforms gold by trading higher by 2.22% to above .1 per ounce. As per Trading Economics, still, silver remains down over 15% since the conflict began, as the effective closure of the Strait of Hormuz triggered a historic surge in energy prices, fueling inflation fears and strengthening expectations that central banks may need to raise interest rates.

May 08, 2026, 11:10 am IST

Gold Rates Today Live Updates: Spot Gold Trade Higher By 1%

Spot gold traded higher by over 0.7% to ,721 ounce, extending its gaining momentum however with a pinch of volatility after renewed clashes between the US and Iran weakened hopes for a near-term peace agreement and reignited inflation concerns.

May 08, 2026, 11:08 am IST

Gold Rates & Silver Rates Today Live: US Payroll Data To Drive Sentiment In Precious Metals?

Comex Gold settled slightly lower by 0.3% in the last session as prices failed to sustain near the day’s high as investors booked profit around weekly high. The yellow metal volatile as renewed clashes between the US and Iran weakened hopes for a near-term peace agreement and reignited inflation concerns. Today evening Non-farm payroll data may keep the Bullion prices volatile: Deveya Gaglani, Senior Research Analyst - Commodities, Axis Direct.