Gold prices in your city, May 11: Gold prices are expected to keep close to its all-time high this week amid geopolitical tensions, pending trade talks, and as investors seek out safe haven options to insulate their portfolios from global market shocks.
Trade talks between the United States and China, appreciating Rupee and depreciating US Dollar, and recent geopolitical developments including rising tensions between India and Pakistan and renewed intensity in Israeli action in Gaza have pulled gold prices up last week.
Safe Haven Invesment: Should You Buy Gold, Silver?
Experts feel that commodities (gold and silver) have emerged as the safe haven investment of choice, in these volatile markets, but caution must be maintained.
According to Jateen Trivedi of LKP Securities, trade optimism and geopolitical tensions have lended support, adding that he expects gold prices to “likely remain range-bound between ₹94,500 and ₹97,500, with heightened volatility expected as risk sentiment continues to fluctuate”.
In terms of returns, gold cost has jumped 30 per cent year-on-year (YoY), and returned 15 per cent CAGR since 2001. The yellow metal has also beaten inflation by over 2-4 per cent since 1995, according to data.
Gold Prices Today: Check Gold Rates in India — May 11
Prices opened higher/lower today at 8 am on May 11. The MCX gold index was at ₹96,535/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹96,748/kg, it showed.
Further, 24-carat gold was priced at ₹96,890/10 gm, according to data on the Indian Bullion Association (IBA) at 8 am on May 11. Further, 22-carat gold was priced at ₹88,816/10 gms. And, silver prices today are at ₹96,880/kg (Silver 999 Fine), as per the IBA website.
Here’s how much gold and silver costs in Indian cities — Chennai, Bengaluru, Hyderabad, Mumbai, Kolkata, and Delhi today, on May 11.
Gold and Silver Prices in Kolkata — May 11
Gold and Silver Prices in Delhi — May 11
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
