Gold and silver prices fell today, June 8, due to rising tensions in the Middle East. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹3,470 to ₹1.51 lakh. At the same time, the price of 1 kg silver decreased by ₹15,748 to ₹2.41 lakh. The price of silver on May 31 was ₹2,63,350. Experts say that due to geopolitical tension, people are withdrawing money from the market and depositing cash.
**Silver fell by ₹ 1.45 lakh from its all-time high**
This year, constant fluctuations have been seen in the prices of gold and silver. On December 31, 2025, the price of gold was ₹1.33 lakh and on January 29, it reached an all-time high of ₹1.76 lakh. Since then gold has become cheaper by ₹25,000. Similarly, the price of silver was ₹2.30 lakh on December 31, 2025, which reached an all-time high of ₹3.86 lakh on January 29. Since then silver price has fallen by ₹1.45 lakh in 130 days; Notably, it has fallen by ₹22,000 in the first eight days of this month alone.
**Main reasons for the decline: Preference for ‘cash’ instead of metals**
Usually, gold and silver prices rise during times of war, but this time the situation is different:
* **Hoarding cash:** Investors are avoiding taking risks due to the ongoing conflict in the Middle East. They are selling their gold and silver holdings to raise cash so that they have liquid funds (easily accessible money) in uncertain times.
* **Profit Booking:** Prices hit record highs in January, leading large investors to sell their holdings at higher rates; Due to this the supply in the market increased and the prices came down.