Live Updated: April 8, 2026, 5:52 PM IST
Gold prices in India recorded their biggest single-day rally of April 2026 today, jumping ₹3,980 per 10 grams after the RBI held its repo rate steady at 5.25 percent. A two-week US-Iran ceasefire announcement added fresh fuel, pushing 24-carat gold to ₹1,53,820 per 10 grams across major cities.
This is a sharp reversal from the past two days, when gold had fallen nearly ₹10,900 per 100 grams as war fears were at their peak. Today, two back-to-back events changed the picture entirely: the RBI’s rate decision and a diplomatic breakthrough in West Asia.
Why Gold Prices Jumped on April 8
Two things drove today’s rally. First, the Reserve Bank of India kept the repo rate unchanged at 5.25 percent for the second time in a row, maintaining its neutral monetary policy stance. When the RBI holds rates steady, the rupee tends to stabilise and gold becomes a preferred holding for investors who want safety without the risk of currency loss.
Second, and equally important, crude oil prices fell by more than 16 percent following the announcement of a two-week ceasefire between the US and Iran. Iran agreed to reopen the Strait of Hormuz during these two weeks.
Lower oil prices eased inflation fears, the US dollar slipped below 100, and that combination made gold attractive to buyers both in India and globally.
According to Aksha Kamboj, Vice President of the India Bullion and Jewellers Association, the ceasefire news contributed positively to gold’s rise, while geopolitical uncertainties have tended to boost demand for gold as a hedge. He recommended that buyers stagger their investments rather than make one large purchase, as periodic volatility is still expected.
Gold Price Today April 8 2026: City-Wise Rates
24-carat gold climbed by ₹3,980 to ₹1,53,820 per 10 grams, marking the highest single-day rally of April 2026 and the past 10 days. 22-carat gold is priced at ₹1,41,000 per 10 grams. 18-carat gold stands at ₹1,15,370 per 10 grams.
City-wise rates per 10 grams for 24-carat gold today: Mumbai: ₹1,53,820. Chennai: ₹1,53,190. Kolkata: ₹1,53,820. These rates exclude 3 percent GST and jewellery making charges, which can add anywhere from 5 percent to 35 percent depending on the design.
On the Multi Commodity Exchange, gold June futures rose to ₹1,53,475 per 10 grams. Silver prices also surged, touching ₹2,42,339 per kilogram on MCX. Silver in Mumbai retail markets is trading at ₹2,60,000 per kilogram.
For context on where prices stood just 24 hours ago, see our report on the gold price on April 7.
What the RBI Rate Hold Means for Gold Buyers
When interest rates stay flat, putting money in a bank fixed deposit becomes less appealing compared to holding gold. Markets reacted positively to the RBI’s decision to keep the repo rate unchanged and maintain its neutral stance, which supported precious metal prices.
A stable rate environment means gold retains its appeal as a savings tool, especially for households that cannot track equity markets daily.
Gold had previously hit all-time highs above $5,600 per ounce in January 2026 during the height of the West Asia conflict but corrected as energy costs fuelled dollar strength.
With the correction in place, some investors are now looking at gold ETFs (exchange-traded funds, which are like mutual funds that track gold prices) or Sovereign Gold Bonds to avoid the high making charges of physical jewellery.
If you are tracking how rate decisions affect your savings options, our guide on the Post Office Monthly Income Scheme 2026 interest rate covers a fixed-return alternative that is not affected by daily gold price swings.
You Need to Know
24-carat gold is priced at ₹15,382 per gram or ₹1,53,820 per 10 grams in India today, April 8, 2026. 22-carat gold stands at ₹14,100 per gram and 18-carat gold at ₹11,537 per gram. Today’s rally of ₹3,980 per 10 grams is the biggest single-day gain of April 2026.
The RBI kept the repo rate unchanged at 5.25 percent, supporting gold’s appeal as a stable investment. The US-Iran two-week ceasefire and a 16 percent crash in crude oil prices were the two main drivers of today’s jump. Silver rose to ₹2,60,000 per kilogram in Mumbai retail markets, gaining ₹10,000 from the previous close.
What Happens Next for Gold Prices
The two-week US-Iran ceasefire is the single biggest variable to watch. If the ceasefire holds and oil prices stay low, gold may give back some of today’s gains as the geopolitical risk premium fades. If the ceasefire breaks down or fresh conflict begins, gold could rally sharply again toward its January 2026 highs above ₹1,73,000 per 10 grams.
The next major domestic trigger will be the June 3-5 RBI MPC meeting. If the RBI signals a rate hike is possible, that would likely push the rupee higher and cap gold price gains in India. You can read our full analysis of the June 2026 repo rate hike or hold outlook to understand what the RBI may do next. B
uyers looking to purchase gold jewellery should also note that prices are 15 percent below their March 2026 peak, which may offer a window before the wedding season demand picks up. Check official guidelines on hallmarking and gold quality standards at pib.gov.in before making any large purchase.
Read Next:
- Track how the RBI rate decision directly affects your home loan EMI with our April 2026 EMI impact report
- Find out how money rules changed from April 1, 2026 and what that means for your taxes and savings
- Know when your nearest bank branch is open with the bank holidays April 2026 state-wise list before visiting to buy gold
Disclaimer: Gold prices listed are indicative retail rates and exclude GST, making charges, and TCS. Prices vary by city and jeweller. This article is for informational purposes only and does not constitute investment advice. Please consult a certified financial adviser before making gold investments.