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Today gold rate in India, May 11: Gold prices began the week on a weaker note on Monday (May 11), pressured by a stronger US dollar, which made the yellow metal less attractive to foreign buyers.
As of 5:20 a.m., gold was down 0.4 per cent, or USD 19, at USD 4,695.83. The decline comes after gold was headed for a weekly gain, supported by optimism over a potential easing of the Iran conflict, which had earlier boosted sentiment.
Stronger dollar pressures gold
On the currency front, the US dollar index, which measures the greenback against a basket of six major currencies, was trading 0.1 per cent higher at 98.
Typically, a weaker US dollar supports gold prices because it makes the metal cheaper for holders of other currencies, thereby increasing demand. Conversely, a stronger dollar tends to weigh on gold.
Iran-US tensions add to market uncertainty
Adding to geopolitical tensions, Iran reportedly sent its response to the latest US proposal aimed at ending the Iran conflict through Pakistani mediators. However, US President Donald Trump swiftly rejected the proposal in a social media post, calling it “TOTALLY UNACCEPTABLE!”
The development further heightened uncertainty in global markets.
Oil prices surge amid rising geopolitical risks
Escalating tensions between the US and Iran pushed oil prices sharply higher.
WTI futures were trading 3.6 per cent higher at USD 98.87 after slipping close to USD 95 last week. Meanwhile, Brent crude was trading near USD 105 per barrel.
Higher oil prices are raising inflation concerns, which could reduce the likelihood of interest rate cuts and keep borrowing costs elevated for longer.
Investors await key inflation data
Apart from geopolitical developments in the Middle East, investors are also awaiting inflation data due later this week. The figures could offer further insight into the health of the world’s largest economy and provide additional direction for gold prices in the coming sessions.
City-wise 24K, 22K and 18K Gold rate (Per 10 Grams)
| City Name | 24k gold price India (10 grams) | 22k gold price India (10 grams) | 18k gold price India (10 grams) |
| Gold Price in Chennai | 154370 | 141500 | 118100 |
| Gold Price in Bengaluru | 152350 | 139650 | 114260 |
| Gold Price in Delhi | 152500 | 139800 | 114410 |
| Gold Price in Mumbai | 152350 | 139650 | 114260 |
| Gold Price in Kerala | 152350 | 139650 | 114260 |
| Gold Price in Kolkata | 152350 | 139650 | 114260 |
| Gold Price in Hyderabad | 152350 | 139650 | 114260 |
| Gold Price in Patna | 152400 | 139700 | 114310 |
| Gold Price in Lucknow | 152500 | 139800 | 114410 |
Gold prices remained largely uniform across major Indian cities, with Chennai recording the highest rates across 24k, 22k, and 18k categories. Delhi and Lucknow followed closely, while Bengaluru, Mumbai, Kolkata, Hyderabad, and Kerala reported similar pricing trends, indicating stable nationwide demand.
The India Bullion and Jewellers Association (IBJA) sets the daily “base price” of gold in India, which serves as the national benchmark for bullion rates. In simple terms, IBJA rates act as the reference price across the country. Below is a breakdown of gold prices based on different purity levels (carats) as defined by IBJA.
| Purity by carat | Morning rates | Evening rates |
| 24 carat gold | Rs 1,51,140 per 10 grams | Rs 1,51,078 per 10 grams |
| 23 carat gold | Rs 1,50,535 per 10 grams | Rs 1,50,473 per 10 grams |
| 22 carat gold | Rs 1,38,444 per 10 grams | Rs 1,38,387 per 10 grams |
| 18 carat gold | Rs 1,13,355 per 10 grams | Rs 1,13,309 per 10 grams |
| 14 carat gold | Rs 88,417 per 10 grams | Rs 88,417 per 10 grams |
IBJA Prices updated here are as of May 8
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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