Gold Rate Today CRASH by Rs. 5500 in Chennai & Hyderabad; Check Reason & 24K,22K Prices On May 11

Gold prices across Chennai and Hyderabad observed a sharp crash on Monday morning after a bullish run last week. A slightly stronger US dollar applied mild pressure on domestic bullion markets. Despite the small retreat, the yellow metal is currently well above Rs. 1.5 lakh per 10-gram level, which it has held for over three consecutive months.

The retail gold rates are impacted by the trend in the domestic & global bullion market, which is struggling currently. Even the gold and silver futures recorded a decline on the multi-commodity exchange today, and the global spot gold prices slipped by 0.8% today

Gold rate today in Chennai and Hyderabad dipped modestly on Monday, May 11, 2026, as a slightly stronger US dollar applied mild pressure on domestic bullion markets. Despite the small retreat, the yellow metal continues to trade well above ₹1.5 lakh per 10 grams - a level it has held for over three consecutive months - reflecting deep-rooted structural demand from jewellery buyers, investors, and central banks alike.

Gold rate today in Chennai

In Chennai, the gold rate was recorded as the highest among major Indian metros for the second week running. The 24-carat gold rate in Chennai is now at Rs. 1,53,820 per 10 grams, down Rs. 550 from yesterday. While the 22 Karat gold rate is down by Rs. 500 and now retailing at Rs. 1,41,000 per 10 grams. The cheaper variant of gold, which is the 18 Karat Gold, is now available at Rs. 1,17,700 per 10 grams after falling by Rs. 400.

Gold rate Today In HYDERABAD

Hyderabad, just a touch cheaper, sees 24K gold rate today at Rs. 1,52,130 per 10 grams, also down Rs. 220. Both cities follow IBJA (India Bullion and Jewellers Association) benchmarks, with final retail prices set each morning by local sarafa associations.

The 22-karat gold rate in Hyderabad also slipped today by Rs. 200 and is now available at Rs. 1,52,130 per 10 grams

Silver Rate in Chennai & Hyderabad Today

Despite the decline in gold prices, silver rates in both cities surged. As of today, the silver rate in Chennai & silver rate in Hyderabad were retailing at Rs. 2,85,000 per Kg after rising by Rs. 5000 per

Gold Target Price Ahead

"Gold prices rose above $4,720 per ounce, hitting their highest level since April 22, supported by easing US-Iran tensions and stronger-than-expected US jobs data, despite ongoing concerns over inflation and interest rates." as per Abhishek M Pelu, Research Analyst, Way2Wealth Research.

"On the technical front, MCX Gold is trading above the falling resistance trendline as well as the short-term EMA, which keeps the daily momentum positive. However, on the broader level, the price continues to trade within a defined range. A strong breakout and sustained move above the resistance line mentioned on the chart could invite fresh buying interest. Therefore, the outlook for the week remains cautiously positive. Resistance is now placed at 155,500, while support is seen at 147,950. MCX Gold is likely to trade within this range going forward unless a clear breakout or breakdown occurs," he further added

MCX Gold and Silver Futures Update

Both gold & Silver today are trading volatily on the exchange. Gold futures slated to mature on June 5th are currently at Rs.1,52,125 after declining 0.27%. On the other hand, silver futures, which are set to expire on July 3rd, are trading in the green up by 0.21% at Rs 2,62,466 per Kg at the time of writing.

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