On May 8, precious metals continued their upward trend, with gold prices rising by $50 per troy ounce to reach $4,760, marking a 1.5% gain for the week. Silver also saw significant gains, climbing $2 to an intraday high of $82.16 per ounce, with a weekly increase of 5.45%. The surge in prices is attributed to optimism surrounding potential peace talks between the US and Iran, coupled with a softer US dollar. A recent jobs report indicated that US employment rose more than expected in April, maintaining a steady unemployment rate of 4.3%. Despite this positive economic data, market focus remains on geopolitical developments, particularly the ongoing tensions in the Middle East. In the domestic market, MCX gold futures increased by ₹1,179 to ₹1,53,440 per 10 grams, while silver reached ₹2,65,000 per kilogram, reflecting a ₹10,763 gain this week alone.