On May 11, gold prices on India's Multi Commodity Exchange (MCX) decreased by 0.21%, settling at ₹1,52,150 per 10 grams, following an appeal from Prime Minister Narendra Modi. He urged Indians to refrain from non-essential gold purchases for a year to mitigate foreign exchange pressures. Modi emphasized the need to conserve foreign exchange and protect the economy from the adverse effects of ongoing conflicts in the Middle East. His comments came during an event in Hyderabad, where he also suggested postponing foreign travel and judicious fuel use. Concurrently, global gold prices fell amid rising inflation fears due to geopolitical tensions, particularly after U.S. President Donald Trump rejected Iran's peace proposal, which has further complicated the situation in the region. Gold traded at around $4,698 per ounce, reflecting the impact of these developments on the market.