Gold prices continued their upward momentum on Wednesday, February 11, strengthening their position as a preferred safe-haven asset. In contrast, silver prices witnessed a decline, reflecting mixed trends in the precious metals market. The surge in gold prices is being driven by strong global demand, geopolitical uncertainties, and optimistic forecasts from global investment banks.
In the domestic market, gold prices rose across key Indian cities, with Delhi recording one of the highest rates. According to market data, the price of 24-carat gold in the national capital climbed to ₹1,58,940 per 10 grams, while 22-carat gold was priced at ₹1,45,710 per 10 grams. Mumbai followed closely, where 24-carat gold was trading at ₹1,58,790 per 10 grams.
The rally in gold is not limited to India. In the international market, spot gold was trading at $5,052.43 per ounce, indicating sustained investor interest. Analysts believe the global rise is being supported by expectations of interest rate cuts, central bank buying, and economic uncertainty across major economies.
Global financial giant JPMorgan has projected that gold prices could rise sharply by the end of the year. The investment bank estimates that gold may reach $6,300 per ounce in the coming months if current macroeconomic conditions persist. This bullish outlook has further boosted sentiment among investors.
Gold prices showed minor variations across metropolitan cities, influenced by local taxes and transportation costs. Here are the latest rates:
Delhi:
22-carat: ₹1,45,710 per 10 grams
24-carat: ₹1,58,940 per 10 grams
Mumbai, Chennai & Kolkata:
22-carat: ₹1,45,560 per 10 grams
24-carat: ₹1,58,790 per 10 grams
Pune & Bengaluru:
22-carat: ₹1,45,560 per 10 grams
24-carat: ₹1,58,790 per 10 grams
Ahmedabad & Bhopal:
22-carat: ₹1,45,610 per 10 grams
24-carat: ₹1,58,840 per 10 grams
These rates reflect a consistent upward trend, suggesting strong domestic demand ahead of the wedding season.
Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council (GJC), has shared an optimistic outlook for precious metals in 2026. According to him, the price of 10 grams of gold could rise to ₹2,00,000, while silver may reach ₹5,00,000 per kilogram.
However, he added that government intervention—such as a reduction in GST or import duties on gold and silver—could help ease prices for consumers.
While gold continues to shine, silver has seen a correction. On the morning of February 11, silver prices fell to ₹2,89,900 per kilogram in the domestic market. This comes after silver crossed the ₹4 lakh mark earlier in January, indicating significant volatility.
In the international market, spot silver was trading at $82.16 per ounce, reflecting subdued demand and profit booking by investors.
Experts suggest that long-term investors may continue to view gold as a hedge against inflation and economic instability. However, given current high prices, buyers should remain cautious and consider staggered investments rather than lump-sum purchases.
