Gold Prices Surge Ahead of Raksha Bandhan: 24-Carat Gold Crosses ₹1.02 Lakh on August 8 Amid Global Trade Tensions

Gold Rate Today: Prices Climb as Global Trade Tensions Boost Demand for Safe-Haven Assets

August 8, 2025 | Friday – Gold prices witnessed a significant surge on Friday, August 8, driven by rising global trade tariffs and increasing geopolitical tensions. As the festive season approaches in India, particularly Raksha Bandhan, the yellow metal has once again become dearer, touching record-high levels in several states. According to market reports, the price of 24-carat gold rose by ₹500 compared to the previous day, pushing the rates above ₹1,02,500 per 10 grams in key markets such as Delhi, Uttar Pradesh, Rajasthan, and Bihar.

This upward movement in gold prices is not an isolated phenomenon but a result of several domestic and international developments. Notably, the United States has imposed an additional 25% tariff on Indian imports, fueling uncertainty in global markets. Such economic conditions often drive investors toward safe-haven assets like gold, causing a sharp increase in demand and, consequently, prices.

Silver Follows Suit

It’s not just gold that's making headlines. Silver prices have also surged significantly. In major Indian cities, 1 kilogram of silver is now trading at ₹1,17,100 — a jump of ₹1,000 from yesterday. Analysts suggest this spike is also tied to the same global uncertainties affecting gold, making both precious metals increasingly attractive to investors.

Why Are Gold Prices Rising?

There are multiple factors contributing to the recent spike in gold rates:

Trade Tariff Tensions:
The U.S. government’s decision to impose additional tariffs on Indian imports has created economic turbulence, prompting investors to look for safer investment avenues like gold.

Weakening US Dollar:
A weakened dollar has historically pushed gold prices higher. On August 7, gold was trading above $3,375 per ounce in the international market.

Geopolitical Risks:
Ongoing concerns such as Russia-related sanctions and U.S. warnings of 100% tariffs on chip imports have added to the sense of global economic insecurity, further increasing gold's appeal.

These developments have led to heightened investor interest, which is now being reflected in Indian retail markets as well, just ahead of the traditional gold-buying season during Raksha Bandhan and other upcoming festivals.

Gold Rates in Major Indian Cities (as of August 8, 2025): City 22-Carat Gold (₹/10g) 24-Carat Gold (₹/10g)

Delhi	₹94,160	₹1,02,710
Mumbai	₹94,010	₹1,02,560
Chennai	₹94,010	₹1,02,560
Kolkata	₹94,010	₹1,02,560
Jaipur	₹94,160	₹1,02,710
Noida	₹94,160	₹1,02,710
Ghaziabad	₹94,160	₹1,02,710
Lucknow	₹94,160	₹1,02,710
Bengaluru	₹94,010	₹1,02,560
Patna	₹94,010	₹1,02,560

How Are Gold Prices Determined in India?

Gold prices in India are influenced by multiple factors including:

• International Market Rates

• Import Duties and Taxes

• Rupee-Dollar Exchange Rate

• Local Demand and Supply Dynamics

Unlike many countries where gold is primarily an investment instrument, in India, it holds deep cultural and traditional significance. It’s a preferred asset during weddings and festivals, making price fluctuations particularly impactful for millions of households.

What to Expect Ahead?

With the festive season in full swing and no signs of easing global tensions, analysts expect gold prices to remain elevated in the coming weeks. Investors are advised to monitor international developments and central bank actions closely, as any major policy shift could influence gold demand and pricing patterns.

For consumers planning to purchase gold for Raksha Bandhan or upcoming weddings, this might be the time to buy before prices climb further.