Gold and silver price on November 8: Gold slips by ₹100 after US Fed interest rate cut; check the latest prices in your city

By Upstox News Desk

3 min read | Updated on November 08, 2024, 10:00 IST

SUMMARY

Gold prices slipped by ₹100 to ₹78,700 per 10 grams in Delhi and ₹78,550 per 10 grams in Mumbai and Kolkata. Silver was trading at ₹92,900 per kg in Delhi, Mumbai and Kolkata.

Gold prices slipped by ₹100 to ₹78,700 per 10 grams in Delhi and ₹78,550 per 10 grams in Mumbai and Kolkata.

Gold prices slipped by ₹100 per 10 grams in early trade on Friday, November 8, due to weak global trends and restricted demand from jewellers. The US Federal Reserves’ decision to cut rates by 25 basis points arrested a spike in US bond yields, helping the precious metal regain the $2,700 an ounce level in global markets

Gold prices tanked by nearly ₹1,800 per 10 grams in afternoon trade on Thursday as US bond yields spiked on concerns that President-elect Donald Trump's poll promises, if implemented, would stoke inflation. Gold fell to a low of $2,646 an ounce in global markets on November 7.

US Federal Chief Jerome Powell dodged any projection on future rate cuts but mentioned that policy decision will depend on labour market moves.

Gold prices slipped by ₹100 to ₹78,700 per 10 grams in Delhi and ₹78,550 per 10 grams in Mumbai and Kolkata.

The spot gold was trading down 0.31% at $2,698 an ounce in early Asian trade. The metal hit a high of $2,710 an ounce in overnight trade.

Check the latest gold and silver prices across major cities today:

Gold Price Today in India (November 8, 2024)

In Delhi markets, 24K gold prices declined by ₹100 to ₹78,700 per 10 grams and 22K gold by ₹100 at ₹72,140 per 10 grams.

Below is a detailed breakdown of gold prices across key cities:

Gold Price Today in Major Cities:

City	22K Gold (per 10gm)	24K Gold (per 10gm)
Delhi	₹72,140	₹78,700
Mumbai	₹71,990	₹78,550
Chennai	₹71,990	₹78,550
Kolkata	₹71,990	₹78,550

Silver Price Today in India (November 8, 2024)

Silver prices declined by ₹1000 per kg in major Indian cities in early trade on Friday due to weak global trends. Silver was trading at ₹92,900 per kg in Delhi, Mumbai and Kolkata.

Silver prices tanked ₹2,000 per kg in afternoon trade on Thursday, following a sharp correction in gold prices.

Spot Silver traded lower by o.88% at $31.75 an ounce in global markets. The metal hit a low of $31.72 and a high of ₹32.06 in overnight trade.

Silver Price Today in Major Cities:

City	Silver Price (per kg)
Delhi	₹92,900
Mumbai	₹92,900
Chennai	₹1,01,900
Kolkata	₹92,900

Comparison of Gold and Silver Prices This Week

Gold prices have taken a breather after the end of the demand for the festive season. The ongoing wedding season is supporting the prices; however, the metal is moving in tandem with global trends. Silver has also lost momentum and moves in line with global cues.

Here’s a comparison of gold and silver prices from earlier this week:

Date	22K Gold (per 10g)	24K Gold (per 10g)	Silver Price (per kg)
Nov 8	₹71,990	₹78,550	₹92,900
Nov 7	₹72,090	₹78,650	₹93,900
Nov 6	₹73,540	₹80,230	₹95,900
Nov 5	₹73,690	₹80,390	₹96,900
Nov 4	₹73,690	₹80,390	₹96,900
Oct 31	₹74,410	₹81,170	₹1,00,100

All Mumbai rates

Federal Reserve cuts rates by 25 basis points; US stocks scale record highs

3 min read

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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Gold and silver price on November 8: Gold slips by ₹100 after US Fed interest rate cut; check the latest prices in your city

Gold Price Today in India (November 8, 2024)

Gold Price Today in Major Cities:

Silver Price Today in India (November 8, 2024)

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Here’s a comparison of gold and silver prices from earlier this week:

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