Gold Rate Today on June 8, 2026: MCX Gold Dips as Inflation Concern Mounts and US-Iran War Keeps Bullion in Focus
- June 8, 2026
- Posted by: Ankit Jaiswal
- Category: News
Gold rate today June 8 2026: 24K Delhi Rs 1,52,730/10g. 22K Delhi Rs 1,40,000/10g. Silver Delhi Rs 2,65,000/kg. Intl gold ~$4,370/oz. Crude $92.94/bbl.
Gold rate today on June 8, 2026 reflects renewed selling pressure on MCX, with 24-karat gold trading at Rs 1,52,730 per 10 grams in Delhi, down from Rs 1,55,750 in the previous session. The domestic bullion market is tracking a sharp international correction sparked by the May US nonfarm payroll report, which showed 172,000 jobs added against the 85,000 forecast, triggering a fresh wave of Federal Reserve rate hike expectations and sending gold below the $4,400 per ounce mark internationally.
The US-Iran war, which began on February 28, 2026, continues to weigh on gold through an unconventional channel. Elevated crude oil prices above $90 per barrel have stoked inflation globally, reducing the probability of near-term rate cuts by major central banks. This combination of geopolitical risk and sticky inflation makes the gold rate today a closely watched data point for investors and consumers alike.
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| Metal | Purity | Delhi (per 10g / per kg) | Mumbai (per 10g / per kg) |
|---|---|---|---|
| Gold | 24K (99.9%) | Rs 1,52,730 | Rs 1,52,720 |
| Gold | 22K (91.6%) | Rs 1,40,000 | Rs 1,39,990 |
| Gold | 18K (75%) | Rs 1,14,548 | Rs 1,14,540 |
| Silver | 999 Fine | Rs 2,65,000 / kg | Rs 2,64,900 / kg |
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MCX Gold Rate Today June 8, 2026
MCX gold futures are under selling pressure on June 8, 2026, tracking the sharp decline in international bullion triggered by the stronger-than-expected US May jobs report. The domestic physical 24K gold rate today stands at Rs 1,52,730 per 10 grams in Delhi and Rs 1,52,720 in Mumbai, down approximately Rs 3,020 from the Sunday reference rate of Rs 1,55,750. The MCX June futures contract is reflecting a similar downward trajectory, pressured by a stronger US dollar and elevated Treasury yields.
International spot gold was last seen trading around $4,370 per ounce, its lowest level since late March 2026, as investors reassess the timeline for Fed rate cuts. Gold’s traditional safe-haven appeal is being offset by the expectation of higher-for-longer interest rates, which make non-yielding assets like gold less attractive relative to dollar-denominated bonds.
City-Wise Gold Rate Today June 8, 2026
Gold rate today varies across Indian cities due to state-level taxes, local demand dynamics, and transportation costs. The table below captures confirmed retail physical market rates for 22K and 24K gold, along with silver prices per kg, across key markets. Always verify with your local jeweller before transacting, as prices update through the trading day.
| City | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver (per kg) |
|---|---|---|---|
| Delhi | Rs 1,40,000 | Rs 1,52,730 | Rs 2,65,000 |
| Mumbai | Rs 1,39,990 | Rs 1,52,720 | Rs 2,64,900 |
| Note | Rates are retail physical market rates sourced from Goodreturns as of June 8, 2026 morning. |
MCX Silver Rate Today June 8, 2026
Silver rate today reflects additional pressure compared to gold. The domestic retail silver price stands at Rs 2,65,000 per kg in Delhi and Rs 2,64,900 in Mumbai. International silver slipped below $70 per ounce on June 5, 2026, its lowest level since late March, pressured by the same macro forces affecting gold, including the stronger dollar, rising Fed rate hike bets, and uncertainty around the US-Iran conflict resolution timeline. MCX silver July futures are testing key support near Rs 2,64,540 per kg; a sustained breach of this level could open further downside.
Silver has dual sensitivity in the current environment as both a precious metal and an industrial commodity. Weak global manufacturing PMI data and demand concerns from China add an additional bearish layer to silver’s outlook in the near term.
Why Is Gold Rate Falling Today
US Jobs Report Fuels Federal Reserve Rate Hike Bets
The US May nonfarm payroll report, released on June 5, 2026, showed 172,000 jobs added against a forecast of 85,000, while the unemployment rate held at 4.3%. This labour market strength reinforced the case for the Federal Reserve to keep interest rates high, with markets now pricing in a quarter-point rate hike by year-end. Higher rates increase the opportunity cost of holding gold, pushing the gold rate today lower as investors rotate into yield-bearing dollar assets.
US-Iran War Keeps Inflation Elevated and Rate Cuts Off the Table
The US-Iran military conflict, which began on February 28, 2026, has kept crude oil prices elevated. At $92.94 per barrel as of June 8, Brent crude remains above $90, stoking persistent inflation concerns in the US and globally. While geopolitical tension would historically boost gold as a safe haven, the inflation-driven expectation of higher-for-longer rates has overpowered this effect, turning the war into a net negative for gold rate today through the rate-hike channel.
Stronger US Dollar Weighs on Gold Price in Rupees
A stronger US dollar index, driven by rising Treasury yields and hawkish Fed expectations, adds downward pressure to dollar-denominated gold. However, a weaker Indian rupee, currently trading around Rs 95.36 per dollar, partially cushions the fall in domestic gold prices. This is a key reason why the drop in the domestic gold rate today is smaller in percentage terms than the international dollar decline.
Key Events That Will Drive Gold Rate This Week
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The most critical trigger for the gold rate this week is the US May Consumer Price Index (CPI) data, expected to show whether inflation remains stubbornly elevated. A higher-than-expected CPI print would strengthen the case for a Fed rate hike and push gold lower, while a softer reading could provide near-term relief. The University of Michigan’s June inflation expectations survey is also on the calendar.
On the geopolitical front, any breakthrough or breakdown in US-Iran peace talks would sharply move both crude oil and gold. A durable ceasefire and reopening of the Strait of Hormuz would ease energy inflation and potentially restore some of gold’s safe-haven premium over the medium term. Investors tracking the gold rate today should monitor these triggers closely before making allocation decisions.
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Conclusion
The gold rate today on June 8, 2026 stands at Rs 1,52,730 per 10 grams for 24K in Delhi, reflecting a significant pullback from recent highs as the combination of strong US jobs data, Fed rate hike expectations, and elevated crude oil prices from the US-Iran conflict weigh on bullion globally. Silver at Rs 2,65,000 per kg in Delhi faces similar pressure, with MCX futures testing key support levels. Investors considering gold or silver purchases should factor in both the domestic price trend and upcoming macro triggers. This content is for informational purposes only. Consult a SEBI-registered advisor before making any commodity or investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Gold Rate Today
What is the gold rate today on June 8, 2026 in India?
Ans. The gold rate today on June 8, 2026 is Rs 1,52,730 per 10 grams for 24K gold and Rs 1,40,000 per 10 grams for 22K gold in Delhi. In Mumbai, 24K gold is at Rs 1,52,720 per 10 grams. Rates vary by city due to local taxes and demand. Always verify with your jeweller for the exact rate.
Why is MCX gold rate falling today?
Ans. MCX gold rate is falling today due to a combination of factors: the strong US May jobs report (172,000 jobs vs 85,000 forecast) has raised Federal Reserve rate hike expectations, a stronger US dollar is weighing on gold, and the US-Iran war is keeping inflation elevated, reducing the probability of near-term rate cuts that would have supported gold.
What is the silver rate today on June 8, 2026?
Ans. The silver rate today on June 8, 2026 is Rs 2,65,000 per kg in Delhi and Rs 2,64,900 per kg in Mumbai. International silver is trading around $70 per ounce. MCX silver July futures are testing key support near Rs 2,64,540 per kg. Rates are subject to change throughout the trading day.
How does the US-Iran war affect gold rate in India?
Ans. The US-Iran war, which began on February 28, 2026, has kept crude oil prices elevated above $90 per barrel, stoking inflation concerns globally. This has shifted Federal Reserve expectations toward higher-for-longer rates and even potential hikes, which is bearish for gold since the metal bears no yield. A stronger dollar driven by these rate expectations also pressures dollar-denominated gold prices.
What is the difference between MCX gold price and physical gold rate?
Ans. MCX gold futures represent exchange-traded contracts for future delivery of gold and reflect global spot prices adjusted for the rupee-dollar rate and time value. Physical gold retail rates in India, sourced from jewellers, additionally include making charges, GST, and local state duties, making them higher than the MCX futures price. Always check MCX for trading reference and local jewellers for retail purchase rates.
What is 22K gold rate today in Delhi and Mumbai?
Ans. The 22K gold rate today on June 8, 2026 is Rs 1,40,000 per 10 grams in Delhi and Rs 1,39,990 per 10 grams in Mumbai. 22K gold, or 916 gold with 91.6% purity, is widely used in jewellery. Rates include local levies and may change during the day. Confirm the latest rate with your jeweller before purchasing.
Should I buy gold now given the current rate trend?
Ans. This article does not constitute investment advice. Gold rate today is under pressure from macro headwinds including US inflation data and Fed rate expectations. Whether to buy gold depends on your investment horizon, risk tolerance, and portfolio allocation. Consult a SEBI-registered financial advisor before making any gold or commodity investment decision.
What events will drive gold rate this week?
Ans. The key events expected to drive the gold rate this week include the US May Consumer Price Index data, the University of Michigan June inflation expectations survey, and any developments in US-Iran peace negotiations. A higher-than-expected CPI print could push gold lower, while signs of a ceasefire or diplomatic breakthrough in the Middle East could provide relief to bullion prices.
