Hyderabad Gold Rate Today (11 May 2026): Prices Stay Strong After PM Modi’s Appeal To Avoid Gold Purchases

Gold prices in Hyderabad remained firm on Monday, 11 May 2026, even as markets reacted to Prime Minister Narendra Modi's public appeal asking Indians to avoid buying gold for the next one year. The statement, made on Sunday during a public interaction, triggered intense discussion among jewellers, bullion traders and investors across major cities, including Hyderabad, one of India's biggest gold consumption hubs.

Despite expectations that sentiment could weaken after the appeal, local bullion prices in Hyderabad showed resilience in early trade, with both gold and silver continuing to trade at elevated levels amid cautious buying and strong long-term demand expectations.

Hyderabad Gold Rates Today

According to the latest market update from Hyderabad bullion traders, the price of gold on 11 May 2026 is:

• 24 Karat Gold (99.9% purity): ₹15,213 per gram
• 22 Karat Gold (91.6% purity): ₹13,945 per gram
• 18 Karat Gold (75% purity): ₹11,410 per gram

Traders said retail footfall at jewellery stores remained relatively slow in the first half of the day as buyers assessed the possible impact of the Prime Minister's comments on future prices and market sentiment.

PM Modi's Appeal Sparks Debate In Bullion Market

Prime Minister Narendra Modi's appeal on Sunday asking citizens to avoid gold purchases for a year has become a major talking point in the bullion sector. Market participants believe the remarks were aimed at reducing excessive gold imports and encouraging investments in productive financial assets.

Hyderabad jewellers, however, indicated that wedding demand and cultural buying patterns are unlikely to disappear entirely, especially in South Indian markets where gold continues to hold strong emotional and financial value.

Several traders also noted that panic selling was not visible despite the political statement, suggesting that consumers still expect gold to remain a safe-haven asset amid global uncertainty.

Silver Prices Also Remain Strong

Silver prices in Hyderabad also held firm on Monday alongside gold.

• Silver Rate Today: ₹285 per gram
• Silver Rate Per Kilogram: ₹2,85,000

Bullion dealers said industrial demand for silver and continued investor interest have helped the metal maintain higher levels despite mixed global commodity signals.

Buyers Turn Cautious Amid Uncertainty

Local jewellers said some customers have started postponing large purchases temporarily to monitor whether the government could announce additional measures related to gold imports, taxation or digital investment alternatives in the coming months.

At the same time, analysts believe any sharp correction in prices could attract fresh buyers back into the market, particularly ahead of the upcoming festive and wedding season.

With Hyderabad continuing to remain one of the country's most active jewellery markets, traders expect volatility in gold and silver prices to continue throughout the week as reactions to PM Modi's statement unfold further.