Gold Rate Today, October 8: Gold Price Hits New Record High on MCX; Check Prices of Yellow Metal in Mumbai, Delhi, Bengaluru, Chennai and Other Metro Cities
Gold rates soared to fresh all-time highs on October 8, driven by escalating global uncertainty surrounding the potential US government shutdown, persistent inflation, and geopolitical concerns. These factors have significantly boosted the safe-haven appeal of the yellow metal.
New Delhi, October 8: Gold rates soared to fresh all-time highs on October 8, driven by escalating global uncertainty surrounding the potential US government shutdown, persistent inflation, and geopolitical concerns. These factors have significantly boosted the safe-haven appeal of the yellow metal. On the Multi Commodity Exchange (MCX), gold futures (December expiry) surged to a record INR 1,22,780 per 10 grams, while contracts maturing in February and April reached INR 1,24,045 and INR 1,25,510 per 10 grams, respectively. The sharp rise in prices reflects both global demand and domestic investor sentiment strengthening ahead of the festive season.
According to Ross Maxwell, Global Strategy Lead at VT Markets, gold prices have surged more than 51% this year due to a combination of weaker US dollar, central bank buying, and anticipation of interest rate cuts, reported Moneycontrol. However, he cautioned that sustaining the current momentum may be challenging, as profit booking could occur at key psychological levels. “If the Federal Reserve turns dovish or geopolitical tensions worsen, prices could move higher, though a stronger dollar or rising yields might cause short-term pullbacks of 5–10%,” he noted. Gold Prices Hit Record High, Surge Past USD 4,000 for the First Time Ever Amid US Government Shutdown and Inflation Concerns.
City-Wise Gold Rates (October 8)
| City | 24k Gold (INR/10g) | 22k Gold (INR/10g) |
| Delhi | 1,23,320 | 1,13,050 |
| Mumbai | 1,23,170 | 1,12,900 |
| Chennai | 1,23,280 | 1,13,000 |
| Kolkata | 1,23,170 | 1,12,900 |
| Bengaluru | 1,23,170 | 1,12,900 |
| Jaipur | 1,23,320 | 1,13,050 |
| Lucknow | 1,23,320 | 1,13,050 |
| Hyderabad | 1,23,170 | 1,12,900 |
| Ahmedabad | 1,23,220 | 1,12,950 |
Jashan Arora, Director at Master Trust Group, said the ongoing rally reflects renewed investor enthusiasm, with the gold rate expected to remain strong through the festive season and beyond. He attributed the bullish trend to aggressive central bank accumulation, diversification away from the US dollar, and persistent geopolitical risks. These factors, he said, have made gold an increasingly vital hedge against economic volatility. Gold Rate Today, October 6: Gold Prices at Record High; Check Prices of Yellow Metal in Mumbai, Delhi, Bengaluru, Chennai, and Other Metro Cities.
Experts recommend that investors explore gold-based instruments such as exchange-traded funds (ETFs), mutual funds, and digital gold instead of physical bullion. These modern investment avenues provide flexibility, transparency, and liquidity. Analysts also advise adopting dollar-cost averaging strategies and diversifying portfolios to balance returns and manage risk effectively as gold continues to shine as a long-term safe-haven asset.
(The above story first appeared on LatestLY on Oct 08, 2025 02:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).