Domestic gold prices across bullion markets in India extended their weekly rally on Saturday, August 8, 2026, adding further to the substantial gains recorded throughout the current trading week. Driven by international market trends and geopolitical developments, domestic rates for precious metals maintained a firm upward path. The weekly trajectory shows gold advancing by more than Rs 50,000, underscoring strong investor demand and positive sentiment. On Saturday, 24 Karat gold climbed by Rs 109 per gram to reach Rs 15,235, while 22 Karat gold saw an increase of Rs 100 per gram to settle at Rs 13,965.
Detailed Breakdown of 24K, 22K, and 18K Gold Rates
Across the various purity segments, precious metal prices reflected continuous buying momentum. Higher-purity 24 Karat gold traded at Rs 15,235 per gram today, gaining Rs 109 over yesterday's closing mark. For bulk transactions, an 8-gram accumulation of 24K gold rose by Rs 872 to Rs 1,21,880. A standard 10-gram bar of 24K gold reached Rs 1,52,350 following a daily surge of Rs 1,090. Meanwhile, a 100-gram weight of 24K gold recorded an advance of Rs 10,900 to settle at Rs 15,23,500.
Jewelry-grade 22 Karat gold mirrored this positive trend with a price increase of Rs 100 per gram, placing today's rate at Rs 13,965 per gram. Consequently, 8 grams of 22K gold increased by Rs 800 to stand at Rs 1,11,720. For a 10-gram denomination, the cost moved up by Rs 1,000 to touch Rs 1,39,650, while a larger 100-gram quantity gained Rs 10,000 to close at Rs 13,96,500.
The 18 Karat gold segment, frequently selected for lightweight ornaments, rose by Rs 82 per gram to reach Rs 11,426. An 8-gram purchase of 18K gold increased by Rs 656 to stand at Rs 91,408. The 10-gram rate for 18K gold surged by Rs 820 to Rs 1,14,260, and a 100-gram quantity gained Rs 8,200 to settle at Rs 11,42,600.
Silver Prices Hold Firm Without Change
In contrast to the rally seen in gold markets, domestic silver rates remained unchanged on Saturday, August 8, 2026. The price of 1 gram of silver stood at Rs 245, holding the exact level recorded during the previous session. Consistent with this, 8 grams of silver traded at Rs 1,960, and 10 grams was priced at Rs 2,450.
For larger commercial quantities, 100 grams of silver remained flat at Rs 24,500, while bulk silver of 1 kilogram maintained its previous rate of Rs 2,45,000. Price stability was observed uniformly across all standard quantity bands.
Global Spot Levels, Fed Rate Expectations, and Geopolitics
In international commodity markets, spot gold surged beyond the $4,200 per ounce threshold, supported by diminishing geopolitical risks in the Middle East and lower inflation forecasts. US President Donald Trump signaled that conflicts involving Iran could be nearing a resolution, though he highlighted ongoing limitations regarding weapons supplies.
Financial market participants are currently adjusting interest rate projections, pricing in a 55% probability of a rate cut by the Federal Reserve during its September meeting, shifting downward from an earlier expectation of 63%. Technical analysis indicates that $4,000 serves as a resilient support line, with buyers taking positions targeting potential moves toward the $4,600 zone regardless of recent US non-farm payrolls data releases.
Market Expert Perspectives
Providing market context on these movements, Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd. and President of IBJA, stated that easing Middle East tensions contributed to lower inflation expectations, allowing spot gold to breach $4,200. He added that traders are factoring in a 55% likelihood of a Fed September rate move, while dip-buyers maintain focus on a $4,600 upside target with solid support at $4,000.
