Gold rates on April 8: Yellow metal rises amid trade war concerns; here's how much it costs in your city today

Gold

Gold prices rose on April 8 after a strong slump which was seen during the previous day. This comes as trade war concerns after US President Donald Trump's reciprocal tariffs made investors shift to safe-haven assets like gold.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country:

(as per data on Good Returns)

Gold's June contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 87,559 per 10 gram on April 8.

"Today, gold rebounded by 1.5 percent, trading above $3,020 per ounce as escalating trade war risks and geopolitical tensions, including Trump’s warning to Iran over a potential nuclear deal, revived demand for safe-haven assets. Investors are now awaiting key US data and the FOMC meeting minutes for clues on future policy direction, though Fed Chair Powell has already signaled a cautious approach to rate cuts due to the elevated risk of inflation and slower growth from the Trump tariffs," said Kaynat Chainwala from Kotak Securities.

Also read: Gold rises as trade war jitters revive safe-haven demand

Silver prices also rose, with MCX Silver May futures opening at Rs 88,898 per kg on April 8.

While 24-carat gold is a 100 percent pure form of gold with no trace of any other metal, the 22-carat variant has 91.67 percent pure gold along with some traces of alloyed metals like silver or copper.