MCX Gold and Silver Today: Will Domestic Prices Track Global Moves?
- 11th May 2026
- 01:00 PM
- 3 min read
Summary
Gold prices on Comex fell 0.82 percent to $4,692 per ounce in early trade on 11 May, while silver rose 0.73 percent to $81.45 per ounce. On MCX, gold slipped 0.28 percent to Rs 1,52,098 per 10 grams and silver gained 0.34 percent. Movement comes amid hopes of diplomatic resolution on the US-Iran standoff and a firmer dollar.Mumbai | 11 May 2026
International spot gold traded 0.82 percent lower at $4,692 per ounce in early Comex trade on 11 May, while silver rose 0.73 percent to $81.45 per ounce. The moves came against a backdrop of elevated crude oil prices and a firmer US dollar.
On the domestic front, MCX gold futures traded 0.28 percent lower at Rs 1,52,098 per 10 grams against the previous close. Silver futures on MCX gained 0.34 percent as of 10:23 IST. Domestic gold prices moved less sharply than global benchmarks, with MCX gold down 0.28 percent against the 0.82 percent fall on Comex.
How Did Gold Prices Move Across Purity Levels?
Domestic gold prices vary by purity. As per the latest update on 11 May at 08:01 IST, 10 grams of 24-karat gold was priced at Rs 1,52,340. The 22-karat variant stood at Rs 1,39,640, while 18-karat gold was at Rs 1,14,250.
|
Gold Purity |
Price (Rs per 10 grams) |
| 24K | 1,52,340 |
| 22K | 1,39,640 |
| 18K | 1,14,250 |
What Is Driving Gold Prices in India?
Prime Minister Narendra Modi on Sunday, 10 May, urged citizens to postpone gold purchases, citing uncertainty over the West Asia conflict, elevated oil prices and a firmer dollar. The Prime Minister also called for reduced fuel consumption, greater use of public transport and electric vehicles, a revival of work-from-home practices, and support for domestic products.
Gold accounts for nearly 9 percent of India’s import bill, second only to crude oil. The ongoing conflict and the blockade of the Strait of Hormuz have raised concerns about the country’s broader import exposure.
How Are Gold Rates Trending Across Indian Cities?
City-level gold prices as on 11 May 2026:
| City | 22K (Rs per gram) | 24K (Rs per gram) |
| Delhi | 14,969 | 15,035 |
| Mumbai | 14,996 | 15,035 |
| Chennai | 14,969 | 15,079 |
| Hyderabad | 14,996 | 15,038 |
| Bangalore | 14,996 | 15,035 |
| Jaipur | 14,969 | 15,035 |
| Kolkata | 14,969 | 15,035 |
| Pune | 14,996 | 15,035 |
Outlook
Bullion prices are expected to be largely driven by global developments in the near term. The progress of US-Iran negotiations remains a key factor to monitor, given its implications for geopolitical stability and crude oil price volatility.
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