Now Reading: Gold slips on US jobs data, Diwali rates steady in India
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Gold slips on US jobs data, Diwali rates steady in India
The Story in Brief
Gold prices slipped on 8 November after stronger-than-expected US nonfarm payroll data boosted speculation that the Federal Reserve will raise interest rates, Livemint reported, citing Bloomberg. Spot gold fell 0.6% to $4,063.47 an ounce, while silver rose 0.2% to $51.87. Money managers cut bullish gold bets to the lowest since June and slashed silver wagers to the lowest in nearly three years, Commodity Futures Trading Commission data showed.
Gold bullion in India was trading at Rs 1,42,880 per 10 grams and silver at Rs 1,85,640 per kg, Livemint said. Among major cities, Chennai and Coimbatore offered the highest 24-karat gold rate at Rs 1,43,030 per 10 grams, while Delhi had the lowest at Rs 1,42,370 per 10 grams. The Economic Times reported that major jewellers including Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas kept 22k gold rates unchanged from the previous day in Delhi, Mumbai and Chennai.
The 22k gold rate at Tanishq in Delhi and Chennai was Rs 13,210 per gram, and at Malabar, Kalyan and Joyalukkas it was Rs 13,160 per gram in all three cities. In Mumbai, Tanishq's 22k gold was Rs 13,160 per gram, down from Rs 13,190 on 7 November. Diwali, the festival of lights, is an important occasion for gold purchases across India.
Update, 8 November 2026: The Economic Times also reports gold rates on 8 November, adding that major jewellers including Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas kept 22k gold prices unchanged from 7 November in Delhi, Mumbai and Chennai. In Mumbai, Tanishq's 22k gold rate fell to Rs 13,160 per gram from Rs 13,190 on 7 November.
Indian Opinion Analysis
Both Livemint and The Economic Times report the same gold and silver rates on Diwali, with Livemint providing a broader range of city-wise 24k, 22k and 18k prices while The Economic Times focuses on major jeweller-specific 22k rates in four cities. The coverage is uniform straight reporting of factual prices from bullion websites and jeweller listings, with no policy framing. The key difference is scope: Livemint gives a consumer overview of retail rates across eight cities, while The Economic Times offers a brand-comparison table. Both confirm that rates were largely unchanged from the previous day, except for Tanishq in Mumbai where 22k gold fell Rs 30 per gram. No new policy or regulatory action is reported.
Coverage: 2 sources, 2 neutral
Sources (2): livemint.com (neutral report), economictimes.indiatimes.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
