Gold prices experienced a ₹500 decline in the retail market on Thursday, May 8, 2026, with 24 carat gold in Delhi retailing at ₹1,55,530 per 10 gm. This represents a drop from Wednesday's rate of ₹1,55,830 per 10 gm, marking a reversal from the previous day's upward trajectory. The price movement reflects ongoing market dynamics in the precious metals sector amid changing global conditions.
Internationally, gold prices showed mixed signals with gold futures trading with gains of 0.24% at $4,722.24 per ounce. As reported by Personal Finance News, the precious metal's performance reflects broader geopolitical uncertainties affecting global markets. Crude oil prices also softened with Brent crude trading with slight gains of over 1% at $101 per barrel, adding to the mixed signals in commodity markets.
On the Multi Commodity Exchange (MCX), gold June futures traded with gains of 0.3% or ₹452 at ₹1,52,713 per 10 gm after hitting the day's high of ₹1,53,103. According to Personal Finance News, this performance indicates continued investor interest in gold as a safe-haven asset despite the mixed international signals. The futures market activity suggests underlying demand for precious metals amid current market conditions.
Major jewelry brands maintained consistent pricing across different purities on May 8, 2026. Tanishq priced 22 carat gold at ₹1,40,400 per 10 gm, 24 carat at ₹1,53,160, and 18 carat at ₹1,14,870. Joyalukkas offered 22 carat gold at ₹1,39,950 per 10 gm, while Kalyan Jewellers priced 22 carat at ₹1,39,950, 24 carat at ₹1,52,670, and 18 carat at ₹1,14,500. Malabar Gold maintained similar pricing with 22 carat at ₹1,39,950 and 24 carat at ₹1,52,670 per 10 gm.
The current price movement comes at a time when gold is viewed as a safe-haven and shows an upward price trend in times of uncertainty. However, as noted by Personal Finance News, the decline reflects easing of concerns around inflation and higher-for-longer interest rates that have boosted market sentiment. Despite fresh clashes between the US and Iran, US President maintains that the ceasefire is still in effect, contributing to the mixed signals affecting precious metals pricing in the current geopolitical environment.
