Gold Rate Today (May 8, 2026): MCX Gold Rises Amid Iran War Uncertainty; Check Metro City Prices

Gold Rate Today (May 8, 2026) witnessed a sharp rise in domestic markets as investors turned cautious amid continuing uncertainty surrounding the Iran War and ahead of crucial United States economic data. Gold futures on the Multi Commodity Exchange (MCX) moved higher in early trade, while retail prices across major metro cities also remained firm.

MCX Gold Price Today

At the MCX, 24-carat gold was trading at Rs 1,52,950 per 10 grams in early trade on Friday, up Rs 689 or 0.45 per cent from the previous close of Rs 1,52,446.

Despite the fresh rally, futures prices are still below the record high of Rs 1,80,779 per 10 grams touched on January 29.

Retail bullion markets also reflected the upward momentum. According to GoodReturns data, the 24-carat retail gold rate stood at Rs 1,52,460 per 10 grams, while Delhi bullion markets quoted prices near Rs 1,52,880 per 10 grams. Morning data from the Indian Bullion and Jewellers Association (IBJA) placed 24-carat gold at Rs 1,51,150 per 10 grams.

Gold Rate Today In Metro Cities

Chennai: 24K - ₹15,384 | 22K - ₹14,102 | 18K - ₹11,772

Mumbai: 24K - ₹15,268 | 22K - ₹13,995 | 18K - ₹11,451

Delhi: 24K - ₹15,288 | 22K - ₹14,010 | 18K - ₹11,466

Kolkata: 24K - ₹15,268 | 22K - ₹13,995 | 18K - ₹11,451

Bangalore: 24K - ₹15,268 | 22K - ₹13,995 | 18K - ₹11,451

Hyderabad: 24K - ₹15,268 | 22K - ₹13,995 | 18K - ₹11,451

Why Gold Prices Are Rising

Analysts said geopolitical uncertainty and expectations around upcoming US economic data are supporting bullion prices.

Concerns over stalled Iran War negotiations and mixed signals from Tehran have kept safe-haven demand elevated. Investors are also tracking movements in the US dollar and crude oil prices, both of which continue to influence global gold trends.

Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd, said gold prices trimmed some gains after a strong rally as the US dollar recovered amid fading optimism over an immediate US-Iran peace agreement.

He noted that bullion had surged more than 3 per cent in the previous session after oil prices fell sharply on hopes of easing Middle East tensions. However, sentiment turned cautious again after reports suggested Iran was still reviewing the proposed US peace framework.

Traders are now awaiting key US macroeconomic data, especially Non-Farm Payrolls (NFP) and unemployment figures, which could influence expectations around future interest rate decisions by the US Federal Reserve.

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said gold remained positive with gains of around ₹850, supported by improving sentiment around ongoing US-Iran talks and weakness in the dollar index and crude oil prices.

He added that market focus now shifts to upcoming US payroll and unemployment data, which are expected to play a major role in determining short-term direction for bullion prices.

With Gold Rate Today staying elevated across futures and retail markets, investors are expected to closely monitor developments in Iran War talks, oil prices and upcoming US economic data for further cues.