Gold prices remain near record highs across India’s physical markets on May 11, 2026, even as Prime Minister Narendra Modi’s weekend appeal asking citizens to avoid purchasing gold for weddings for one year continues to generate debate about whether demand will moderate in the coming months.
Here are the latest gold rates across major Indian cities as of May 11, 2026.
Gold price today in Delhi
Standard gold (22 carat) in Delhi is priced at ₹1,11,832 per 8 grams, while pure gold (24 carat) stands at ₹1,21,992 per 8 grams. On a per gram basis, 22 carat gold works out to approximately ₹13,979 per gram and 24 carat to approximately ₹15,249 per gram in the capital.
Gold price today in Mumbai
Standard gold (22 carat) in Mumbai is priced at ₹1,11,712 per 8 grams, marginally lower than Delhi, while pure gold (24 carat) stands at ₹1,21,872 per 8 grams. The slight difference reflects local levy variations between the two markets.
Gold price today in Chennai
Chennai carries the highest gold prices among the four cities today. Standard gold (22 carat) is priced at ₹1,13,192 per 8 grams, while pure gold (24 carat) stands at ₹1,23,488 per 8 grams — approximately ₹1,360-1,496 per 8 grams higher than Delhi and Mumbai. Chennai’s traditionally higher gold rates reflect the city’s elevated physical demand and local tax structures.
Gold price today in Hyderabad
Standard gold (22 carat) in Hyderabad is priced at ₹1,11,712 per 8 grams, in line with Mumbai, while pure gold (24 carat) stands at ₹1,21,872 per 8 grams.
Why are gold prices near record highs?
Gold prices globally have surged to near all-time highs in 2026, driven by the ongoing Middle East war, disruptions to the Strait of Hormuz, central bank gold buying across emerging markets, and investors seeking safe-haven assets amid geopolitical uncertainty. Global gold prices have crossed $3,200 per troy ounce, feeding through directly into domestic Indian prices which also reflect the prevailing USD-INR exchange rate and applicable import duties.
The elevated price environment is precisely what makes PM Modi’s appeal politically and economically significant — at current rates, even a modest reduction in wedding gold purchases across India’s estimated 10-12 million annual weddings would translate into billions of dollars in reduced import demand, providing meaningful relief to the country’s foreign exchange reserves and current account deficit at a time when crude oil is simultaneously draining forex at $126 per barrel.
Disclaimer: Gold prices listed are indicative physical market rates sourced from market data and may vary across jewellers and cities based on making charges, local levies, and GST. This article is for informational purposes only and does not constitute investment advice.