Gold Price surge Rs 1,500 and silver rose by Rs 11,000
Gold prices rose by approximately ₹1,500 per 10 grams in a single week, while silver experienced a massive jump, reaching as high as ₹11,000 per kg in weekly gains in some cities.
Gold Price: In early May 2026, precious metal prices in India saw a substantial weekly surge driven by escalating geopolitical tensions in West Asia. Gold prices rose by approximately ₹1,500 per 10 grams in a single week, while silver experienced a massive jump, reaching as high as ₹11,000 per kg in weekly gains in some cities.
Current Market Rates (as of May 11, 2026):
As of May 11, 2026, retail prices for precious metals in major Indian cities have reached elevated levels, with 24K gold priced at approximately ₹1,52,340 per 10g and 22K gold at ₹1,39,640 per 10g. Additionally, 18K gold is trading at roughly ₹1,14,260 per 10g, while the price for 99.9% pure silver has climbed to approximately ₹2,74,900 per kg.
The retail prices for precious metals remain at elevated levels across major Indian cities:
Metal / Purity, Rate (Approx. per 10g / kg):
24K Gold: ₹1,52,340 per 10g
22K Gold: ₹1,39,640 per 10g
18K Gold: ₹1,14,260 per 10g
Silver: ₹2,74,900 per kg
Prices vary slightly by city due to local taxes, transportation, and jeweler margins. For example, silver rates in Chennai are currently higher at ₹2,79,900 per kg.
Several factors contributed to this “shock” for gold and silver buyers:
Tensions between the U.S. and Iran, including drone and missile strikes in the Strait of Hormuz, have rattled global markets and increased “safe-haven” demand for bullion.
Rising crude oil prices due to Middle East instability have amplified global inflation concerns, making gold and silver more attractive as a hedge.
Beyond its investment value, silver is seeing relentless demand from the solar, electric vehicle (EV), and AI sectors, which has pushed its growth to outperform gold in 2026.
On Monday, May 11, Prime Minister Narendra Modi urged citizens to avoid unnecessary gold purchases for the next year to conserve foreign reserves, which caused a slight dip in jewelry stocks but reflected the pressure rising imports are placing on the economy.
Analysts remain bullish on silver, with some projecting prices to reach ₹3.2 lakh to ₹3.5 lakh per kg by the end of 2026 if current trends continue. Gold is expected to remain range-bound but sensitive to further escalations in West Asia and central bank policy shifts.
