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Gold Rates & Silver Rates Today (11/08/2026) LIVE: MCX Gold Jumps Rs 1,800, Silver Price Climbs Rs 2,000

Gold rates and silver rates in India witnessed a strong rally on Tuesday, with the MCX gold price climbing to hit above Rs 1.55 lakh mark and MCX silver price surged above Rs 2.41 lakh level. This is due to strong demand in international bullion market where spot gold touched a two-month high above $4,400 per ounce and spot silver rallied near $66 per ounce.

Although, precious metals witnessed gaining trend, crude oil prices remained elevated. US WTI Crude is trading above $82 mark and Brent Crude is near $87.50 per ounce. The US dollar is also steady near 99.7 levels against a basket of currencies.

Also, buying sentiments improved in precious metals despite inflationary risks and rate hike expectations fueled by elevated oil prices.

Additionally, Trading Economics data pointed out that Chinese institutional investors continued to increase their bullion holdings as a hedge against volatility in other markets, with gold-backed exchange traded funds in China recording their longest streak of inflows in months. China's central bank also accelerated its gold purchases last month, with reserves rising by about 20 tons in July following an increase of around 15 tons in June, marking the largest monthly addition since October 2023. Meanwhile, uncertainty persisted over a potential deal between the US and Iran to end the war and reopen the Strait of Hormuz. Investors also awaited a key US inflation reading this week for fresh clues on the Federal Reserve's policy outlook.

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