Gold Price In Delhi Today: What Happened A Day After PM Modi Asked Indians To Avoid Buying Gold?

Gold prices in Delhi witnessed a small decline on Monday, May 11, 2026, after remaining near record-high levels in recent weeks. Despite the slight dip, gold and silver continue to trade at historically high prices due to strong global demand and rising economic uncertainty.

Experts believe ongoing tensions in West Asia and fluctuations in international markets are continuing to influence the movement of precious metal prices.

Gold Rate In Delhi Today

According to the latest market update, the price of 24-carat gold in Delhi on May 11 stood at ₹1,52,490 per 10 grams.

A day earlier, on May 10, the price was ₹1,52,500 per 10 grams. This means gold prices declined slightly by ₹10 per 10 grams in the national capital.

Meanwhile, another market update placed the 24-carat gold rate in New Delhi at around ₹1,51,950 per 10 grams, while 22-carat gold was trading at approximately ₹1,39,288 per 10 grams.

Silver prices also remained extremely high, with 999 fine silver trading at nearly ₹2,62,350 per kilogram in New Delhi.

Gold Prices Continue To Stay Near Record Highs

Even though today's fall was marginal, gold prices in India have witnessed a massive rally over the past year. Market analysts say gold has seen one of its strongest bull runs in decades. Reports suggest that gold prices have risen by more than 60 per cent since last year.

For example, in nearby Faridabad, the price of 10 grams of 24K gold reportedly increased from around ₹95,920 in May 2025 to nearly ₹1,54,645 in May 2026.
This sharp rise has made gold one of the best-performing assets during a period of global economic instability.

Why Are Gold Prices Rising?

Experts believe several international factors are pushing gold prices higher.

One of the biggest reasons is the growing uncertainty caused by the ongoing conflict involving Iran, Israel and the United States in West Asia.

Whenever geopolitical tensions rise, investors across the world usually move towards safer investment options like gold. This increases demand and pushes prices upward.
Apart from geopolitical tensions, concerns related to inflation, global trade disruptions and currency fluctuations are also contributing to the rise in precious metal prices.

Silver Prices Witness Even Sharper Growth

Silver prices have also surged dramatically in recent months.
According to market estimates, silver prices have jumped from nearly ₹78,600 per kilogram during 2023-24 to more than ₹2,50,000 per kilogram in early May 2026.

Experts say industrial demand, currency movements and global market volatility are major reasons behind the sharp increase in silver prices.

What Could Happen Next?

Analysts believe the future movement of gold and silver prices will largely depend on how the global geopolitical situation develops in the coming weeks.
Any escalation in the West Asia conflict could further increase demand for safe-haven assets like gold.