Gold Price Today, May 11 After Modi’s Appeal:Prime Minister Narendra Modi’s appeal to citizens to avoid non-essential gold purchases for one year has triggered widespread discussion across bullion markets, even as gold prices remained elevated in major Indian cities on Monday. The appeal comes amid rising geopolitical tensions in West Asia, soaring crude oil prices, and growing concerns over India’s foreign exchange reserves.
Speaking at an event in Hyderabad, Modi urged people to reduce discretionary spending on imported commodities such as gold, while also encouraging fuel conservation, work-from-home practices, and reduced foreign travel.
“Gold purchases are another area where foreign exchange is used extensively. In the national interest, we must resolve not to purchase gold for a year,” Modi said.
“The growing culture of weddings abroad, travelling abroad and vacationing abroad is becoming prevalent among the middle class. During this crisis, we should postpone travelling abroad for at least a year,” he added.
According to reports, the Prime Minister said postponing gold purchases could help India conserve valuable foreign exchange during the ongoing global crisis.
Gold Price Today, May 11 After Modi’s Appeal
Despite Modi’s remarks, gold prices stayed firm across metro cities on May 11, 2026.
24-Carat Gold Rate (10 grams)
- Mumbai: Rs 1,52,870
- Delhi: Rs 1,52,610
- Bengaluru: Rs 1,52,990
- Chennai: Rs 1,53,320
- Hyderabad: Rs 1,53,110
- Kolkata: Rs 1,52,670
Silver Rates City-Wise
The following rates are as per 1 kg
- Mumbai: Rs 2,61,900
- Delhi: Rs 2,61,440
- Bengaluru: Rs 2,62,100
- Chennai: Rs 2,62,660
- Hyderabad: Rs 2,62,310
- Kolkata: Rs 2,61,550
Impact On Indian Consumers And Jewellery Stocks
The Prime Minister’s statements will change how middle-class consumers feel about buying discretionary jewellery in the short term. The market will keep receiving support from wedding-related and cultural event-related demand.
This week, investors will pay attention to jewellery and bullion stocks as they try to understand whether the government will implement new import restrictions and measures to handle international trade challenges.
Gold, and Silver Rate Today in India: Citywise Gold Prices Fall, Silver Jumps to Rs 2.75 Lakh/kg
Future Market Analysis
Financial experts advise buyers to track global developments, crude oil prices, rupee movement, and central bank policies before making major gold investments. Indian culture and investment demand will sustain long-term gold demand despite ongoing short-term market fluctuations.
Bullion traders are currently monitoring whether Modi’s public appeal will lead to any policy changes during the next few weeks.
