Gold and silver prices continued their strong upward momentum. On August 11, Delhi gold prices rose by Rs 2,000 to Rs 1.56 lakh per 10 grams, marking a fifth consecutive gain. Silver also surged by Rs 5,200 to Rs 2.40 lakh per kg.
Gold and silver prices continued their strong upward momentum on August 11, with domestic bullion markets witnessing another sharp move higher. In Delhi, gold prices increased by Rs 2,000 to Rs 1.56 lakh per 10 grams, marking the fifth consecutive session of gains. Silver also resumed its rally, climbing Rs 5,200 to Rs 2.40 lakh per kg after remaining unchanged in the previous session.
The latest rally has been supported by a combination of domestic and international factors. The depreciation of the Indian rupee has made imported gold more expensive in the domestic market, providing an additional boost to local bullion prices. Globally, investors are also watching expectations around US monetary policy, the dollar's movement and upcoming inflation data.
Gold and Silver Rates Today: City-Wise Prices
| City | 24K Gold/10g | 22K Gold/10g | Silver/kg |
| Delhi | Rs 1,56,000 | Rs 1,42,500 | Rs 2,40,000 |
| Mumbai | Rs 1,50,641 | Rs 1,38,087 | Rs 2,31,373 |
| Kolkata | Rs 1,56,000 | Rs 1,42,500 | Rs 2,47,000 |
| Chennai | Rs 1,56,500 | Rs 1,43,450 | Rs 2,47,000 |
| Bengaluru | Rs 1,56,500 | Rs 1,43,450 | Rs 2,47,000 |
| Hyderabad | Rs 1,56,500 | Rs 1,43,450 | Rs 2,47,000 |
Note: Rates mentioned are indicative market rates and may differ from final retail jewellery prices because of GST, making charges and other applicable costs.
According to reports spot gold gained 0.4% to $4,356.79 an ounce in global trade, remaining close to a seven-week high. Spot silver climbed 2.3% to $65.03 an ounce, extending the broader rally in precious metals.
Why are gold and silver prices rising?
Gold has benefited from expectations of a potentially more accommodative US monetary policy. A weaker dollar can also make gold more attractive to investors holding other currencies. Meanwhile, markets are awaiting US inflation data for additional clues about the Federal Reserve's future interest-rate decisions.
Silver has delivered an even stronger performance recently. According to the report, September silver futures on the Multi Commodity Exchange jumped Rs 14,268, or nearly 7%, to settle at around Rs 2.31 lakh per kg. International September silver futures also surged almost 10% to $63.50 an ounce.
Analysts remain positive about the near-term outlook. JM Financial Services' senior vice president Pranav Mer said gold and silver were likely to retain a positive bias, with gold potentially moving towards Rs 1.57 lakh per 10 grams in the short term.
However, bullion prices remain sensitive to inflation figures, US interest-rate expectations, currency movements and geopolitical developments. Investors and jewellery buyers should therefore keep an eye on daily market movements before making purchasing decisions.
