Gold prices witnessed a decline across most Indian cities at the beginning of the week, while silver prices also remained under pressure. Despite the slight correction, precious metals continue to trade at historically elevated levels due to ongoing global uncertainty, geopolitical tensions, and volatility in international commodity markets.
On May 11, gold prices eased in major metro cities including Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad. According to market data, 24-carat gold in Delhi slipped to ₹1,52,490 per 10 grams, while 22-carat gold dropped to ₹1,39,790 per 10 grams.
Experts say domestic gold prices are currently being influenced not only by local demand and rupee movement but also by global developments such as crude oil volatility, international tensions, and fluctuations in the US dollar.
In Delhi:
In both Mumbai and Kolkata:
Chennai continued to witness comparatively higher rates:
In Pune and Bengaluru:
| City | 22-Carat Gold Price (₹ per 10g) | 24-Carat Gold Price (₹ per 10g) |
|---|---|---|
| Delhi | 1,39,790 | 1,52,490 |
| Mumbai | 1,39,640 | 1,52,340 |
| Ahmedabad | 1,39,690 | 1,52,390 |
| Chennai | 1,41,490 | 1,54,360 |
| Kolkata | 1,39,640 | 1,52,340 |
| Hyderabad | 1,39,640 | 1,52,340 |
| Jaipur | 1,39,790 | 1,52,490 |
| Bhopal | 1,39,690 | 1,52,390 |
| Lucknow | 1,39,790 | 1,52,490 |
| Chandigarh | 1,39,790 | 1,52,490 |
Although prices slipped slightly on Monday, gold remains significantly higher compared to previous weeks.
Reports suggest:
This indicates that overall bullish sentiment in precious metals still remains strong.
Experts say global developments are playing a major role in current gold and silver price movement.
According to reports, international spot gold is trading near $4,721 per ounce.
Market volatility reportedly increased after fresh geopolitical concerns emerged in the Middle East. Reports claimed that US President Donald Trump rejected a new peace proposal linked to Iran, increasing uncertainty in the region.
The situation has reportedly affected expectations around the Hormuz Strait shipping route, which is considered strategically important for global crude oil transportation.
As a result:
Silver prices also weakened alongside gold.
According to the latest market rates:
Reports indicate that silver prices have fallen by nearly ₹10,000 per kilogram over the past week.
Interestingly, silver had crossed the ₹4 lakh per kilogram mark earlier this year during January amid strong global demand and supply concerns.
International spot silver is currently trading near $81.14 per ounce.
Experts say domestic precious metal prices are influenced by several factors, including:
Because of these factors, gold and silver prices can fluctuate sharply even within short periods.
Despite short-term corrections, gold continues to remain one of the most closely watched investment assets in India.
Rising uncertainty in global markets, inflation concerns, and geopolitical tensions are keeping investor interest strong in precious metals.
At the same time, discussions around alternative gold investment options such as:
are also increasing as more investors look for safer and more flexible ways to invest in gold without buying large quantities of physical jewellery.
