Gold and silver prices fell today on June 8 due to increasing tension in the Middle East. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹2,749 to ₹1.51 lakh. At the same time, the price of 1 kg silver fell by ₹12,608 to ₹2.44 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, on December 31, 2025, the price of silver was ₹2.30 lakh and on January 29, it reached an all-time high of ₹3.86 lakh. Since then, the silver price has fallen by ₹1.42 lakh in 130 days. It is noteworthy that in the first eight days of this month, the price of silver has fallen by ₹ 19,000.
**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 a little different:
* **Cash Savings:** Investors are avoiding taking risks due to the ongoing conflict in the Middle East. They are accumulating cash by selling their gold and silver to maintain liquid funds (easily used money) in uncertain times.
* **Profit Booking:** Prices had reached record levels in January; As a result, large investors began selling their holdings at higher prices. This increased the supply in the market, which led to a fall in prices.
