Gold prices moved higher in India on Tuesday, August 11, as fresh developments in the US-Iran conflict kept investors cautious. Both 24-karat and 22-karat gold rates saw a marginal rise across major Indian cities. Silver prices also gained in the domestic market.
The latest movement comes as global markets continue to track developments around the Strait of Hormuz and the possibility of a US-Iran deal.
Trump Says US Has Control Of Strait Of Hormuz
US President Donald Trump on Monday claimed that the US Navy had cleared mines from the Strait of Hormuz. Trump said the US now has complete control over the key waterway. Speaking to reporters in the Oval Office, he said, “It’s open now.” He also added that the US was the “only one that has control of the Strait of Hormuz right now.”
These comments by Donald Trump came amid continued uncertainty over tensions involving the US and Iran. This tension between the two countries has impacted the water transit in the Strait of Hormuz, which is a major route for global oil shipments. Any disruption can have a wider impact on energy prices and financial markets.
MCX Gold, Silver Prices Today
Gold and silver futures were also moving in the positive zone at the Multi Commodity Exchange (MCX) on August 11. MCX gold futures were seen at 1.22% higher at ₹1,55,210 per 10 grams around 9:13 am. MCX silver futures were also trading up by 1.05% at ₹2,40,340 per kg in the same period.
The dollar index also eased. A depreciating dollar may lead to reduced cost of purchasing gold in terms of other currencies. Further, the price of crude oil is close to $88 per barrel due to uncertainties regarding the US-Iran deal.
Why Are Gold And Silver Prices Rising?
Gold is considered a safe asset when there is geopolitical instability. Precious metals are considered by investors as a secure asset for storing wealth during such times. Silver also rose due to tracking of global commodity markets.
However, prices may fluctuate during the course of the day due to various international factors, currency movement, crude oil prices and local demand.
Gold Price Today In Major Indian Cities
Retail gold is generally sold in 24-karat and 22-karat purity. 24-karat gold is considered the purest form, while 22-karat gold is widely used for jewellery because it is more durable.
Here are the latest gold and silver rates across major Indian cities on August 11:
| City | 24K Gold (₹/10 gm) | 22K Gold (₹/10 gm) | Silver 999 Fine (₹/kg) |
| New Delhi | ₹1,54,660 | ₹1,41,772 | ₹2,39,490 |
| Mumbai | ₹1,54,930 | ₹1,42,019 | ₹2,39,910 |
| Bengaluru | ₹1,55,050 | ₹1,42,129 | ₹2,40,100 |
| Kolkata | ₹1,54,710 | ₹1,41,818 | ₹2,39,320 |
| Hyderabad | ₹1,55,160 | ₹1,42,230 | ₹2,40,010 |
| Chennai | ₹1,55,370 | ₹1,42,423 | ₹2,40,330 |
Disclaimer: Gold and silver prices can vary between retailers and may change during the day. Jewellery prices can also include making charges, taxes and other applicable costs.
Sudeep Singh Rawat is a Copy Editor at NewsX Digital with over five years of experience in digital journalism. He covers national and international news, with a focus on politics, crime, technology, public affairs, and trending topics. Before joining NewsX Digital, he worked with Business Standard, The Sunday Guardian, and other digital media organisations. His reporting focuses on breaking news, enterprise stories, and explainers that inform readers through accurate, balanced, and context-driven journalism.
