Gold Prices Near Record Highs Amid Geopolitical Tensions — Check Rates in Prominent Cities
Gold prices are expected to hover near their all-time highs this week, as investors turn to safe haven assets amid volatile global markets.
Gold prices are expected to hover near their all-time highs this week, as investors turn to safe haven assets amid volatile global markets. Ongoing geopolitical tensions — including escalating India-Pakistan hostility and intensified Israeli operations in Gaza — along with concerns over pending US-China trade negotiations and a weakening US dollar, have contributed to the surge in gold and silver prices.
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Safe Haven Investment: Is It the Right Time to Buy?
Analysts suggest that commodities like gold and silver have become preferred safe haven assets. However, market experts urge caution given the ongoing volatility.
Jateen Trivedi of LKP Securities said gold is likely to remain range-bound between ₹94,500 and ₹97,500, with heightened market sensitivity expected in the coming days.
Gold has delivered robust long-term returns, gaining 30% year-on-year, and offering a 15% CAGR since 2001. Notably, gold has consistently outpaced inflation by 2–4% since 1995.
Gold and Silver Prices Today: May 11
As of 8 am on May 11, gold and silver prices across major Indian markets were as follows:
National MCX and IBA Rates
- MCX Gold: ₹96,535/10 gm
- MCX Silver: ₹96,748/kg
- IBA 24-carat Gold: ₹96,890/10 gm
- IBA 22-carat Gold: ₹88,816/10 gm
- Silver (999 Fine): ₹96,880/kg
Gold and Silver Rates by City — May 11
Chennai
- Gold Bullion: ₹97,000/10 gm
- Silver Bullion: ₹96,980/kg
Bengaluru
- Gold Bullion: ₹96,790/10 gm
- Silver Bullion: ₹96,780/kg
Hyderabad
- Gold Bullion: ₹96,870/10 gm
- Silver Bullion: ₹96,860/kg
Mumbai
- Gold Bullion: ₹96,710/10 gm
- Silver Bullion: ₹96,700/kg
Kolkata
- Gold Bullion: ₹96,590/10 gm
- Silver Bullion: ₹96,570/kg
New Delhi
- Gold Bullion: ₹96,550/10 gm
- Silver Bullion: ₹96,540/kg
Outlook: Gold to Stay Strong, Volatility Likely
With uncertainty prevailing across financial and geopolitical landscapes, gold and silver are expected to stay strong in the near term. While the outlook is positive, experts continue to advise a balanced investment strategy given potential fluctuations.
