Gold Rates & Silver Rates Today (8/9/2026) LIVE: MCX Gold Rises Rs 1,100, Silver Up Rs 2,300 As Dollar Slips

Gold rates and silver rates in India surged sharply on September 8, 2026, following global bullion market trends. Also, precious metals gained despite a sharp increase in crude oil prices. The reason is a slip in the US dollar that made non-yielding assets like gold attractive.

MCX gold crossed Rs 1.54 lakh mark and gained by around 1% in the early hours of Tuesday, while MCX silver reclaimed above Rs 2.41 lakh mark in 1Kg and also surged by 1%.

In the global market, spot gold is trading above $4,430 per ounce with nearly 1% upside. While spot silver outperforms with over 1.2% surge to trade near $67 per ounce. On the bull run is also crude oil prices, with US WTI crude oil trading above $93 per barrel which is higher by 1% from the previous day. Brent crude also jumped 1% and moved closer to $98 per barrel.

On the other hand, US dollar slipped to trade around 98.8 against a basket of currencies. This is a second consecutive decline as Japanese yen extended their gains on expectations of more aggressive monetary tightening by the Bank of Japan and continued unwinding of carry trades.

Markets are currently pricing in around a 60% probability that the US Federal Reserve will deliver a 25-basis-point rate hike next week following strong jobs data, with upcoming inflation figures expected to offer further clues. The European Central Bank and Bank of Japan are also widely expected to raise rates this month. Meanwhile, investors continued to monitor developments in the Middle East as renewed US-Iran fighting pushed oil prices higher. At the same time, gold could receive support from investment and hedging demand, with central bank purchases and the so-called debasement trade remaining key drivers for the precious metal, as per Trading Economics.

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