West Asia Tensions Impact: Silver fell by Rs 15,748; Gold crashed by Rs 3470

June 8, 2026

Gold and silver prices have fallen today, June 8, due to rising tensions in the Middle East. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has dropped by ₹3,470 to ₹1.51 lakh.

Meanwhile, the price of 1 kg of silver has decreased by ₹15,748, settling at ₹2.41 lakh. On May 31, the price of silver stood at ₹2,63,350. Experts suggest that due to geopolitical tensions, people are withdrawing money from the market and holding onto cash.

Huge fluctuations in Gold Silver prices 

Gold and silver prices have witnessed continuous fluctuations this year. Gold prices were at ₹1.33 lakh on December 31, 2025, and surged to a peak of ₹1.76 lakh on January 29. Since then, gold has become cheaper by ₹25,000.

Similarly, the price of silver was ₹2.30 lakh on December 31, 2025, and hit an all-time high of ₹3.86 lakh on January 29. In the 130 days since then, silver has dropped by ₹1.45 lakh. Notably, silver has fallen by ₹22,000 in just the first eight days of this month.

Typically, gold and silver prices rise during times of war, but the situation is somewhat different this time:

Hoarding Cash: Due to the Middle East conflict, investors are avoiding risk. They are selling their gold and silver holdings to accumulate cash, ensuring they have liquid funds during uncertain times.
Profit Booking: Prices had reached record levels in January; consequently, large investors began selling their holdings at high rates. This increased market supply, causing prices to fall.