Silver crashes ₹15,748/kg in a single day:Gold prices fall ₹3,470 /10 gm; investors flee after renewed Iran-Israel tensions

Due to increasing tensions in West Asia, gold and silver prices have fallen today, i.e., on June 8. 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 today. Meanwhile, the price of 1 kg of silver has decreased by ₹15,748 to ₹2.41 lakh. According to experts, due to geopolitical tensions, people are withdrawing money from the market and keeping cash with themselves. Gold prices according to carat Gold prices in major cities of the country Source: goodreturns 8 June 2026 Silver falls by ₹1.45 lakh from all-time high This year, gold and silver prices have been witnessing continuous fluctuations. On 31 December 2025, the price of gold was ₹1.33 lakh , which increased to reach the highest level of ₹1.76 lakh on 29 January. Since then, gold has become cheaper by ₹25,000 till now. Meanwhile, 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, in 130 days, silver has become cheaper by ₹1.45 lakh. Gold cheaper by ₹25,000 and silver by ₹1.45 lakh in 130 days Source: IBJA Main reasons for decline: Trust in ‘cash’ instead of metal Generally, gold and silver prices increase in a war environment, but this time the situation is a bit different: