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What is the story about?
Gold prices held near all-time high levels on Friday (January 30) as investors continued to seek safety amid heightened geopolitical tensions and uncertainty around global economic and monetary policy developments.
In international markets, spot gold rebounded after a brief pullback, remaining close to recent all-time highs. The precious metal had eased to $5,333 an ounce, its first decline in nearly two weeks, but overall sentiment stayed supportive as investors reduced exposure to equities and sovereign assets.
Risk appetite weakened after US stock futures slipped, with S&P 500 and Nasdaq 100 futures down about 0.3 per cent. Market caution followed warnings from Apple Inc. on rising costs and margin pressures, alongside uncertainty ahead of an expected announcement by US President Donald Trump on his nominee for the next Federal Reserve chair.
US Treasury prices firmed and the dollar edged higher.
Despite the firmer dollar, gold remained resilient, reflecting persistent demand for safe-haven assets amid geopolitical risks and concerns over policy direction. Earlier this week, gold surged to a fresh peak of ₹5,595.02 per ounce, marking its largest intraday gain on record.
Silver also stayed strong in overseas trade, touching a lifetime high of $120.45 per ounce, supported by sustained investor interest in precious metals.
In India, bullion prices tracked the global rally.
Gold prices in the national capital rose to a new record of ₹1.83 lakh per 10 grams (inclusive of all taxes) on Thursday (January 29), according to the All India Sarafa Association. Silver prices crossed the ₹4 lakh per kilogram mark for the first time,
climbing to an all-time high of ₹4.04 lakh per kg.
Silver has gained more than 69% so far this year, significantly outperforming gold, supported by a combination of investor demand and its industrial use.
Demand moderates as prices surge
While prices remain elevated, physical demand has softened. The World Gold Council said India’s gold demand fell 11% in 2025 to 710.9 tonnes, weighed down by record-high prices and evolving consumer preferences. Demand is expected to remain lower in 2026.
However, higher prices sharply increased the value of demand. In rupee terms, India’s gold demand rose 30% year-on-year in 2025, reflecting the impact of soaring prices despite lower volumes.
Globally, total gold demand crossed 5,000 tonnes in 2025, driven primarily by investment demand as investors sought protection against economic uncertainty and geopolitical risks.
-With agencies inputs
In international markets, spot gold rebounded after a brief pullback, remaining close to recent all-time highs. The precious metal had eased to $5,333 an ounce, its first decline in nearly two weeks, but overall sentiment stayed supportive as investors reduced exposure to equities and sovereign assets.
Risk appetite weakened after US stock futures slipped, with S&P 500 and Nasdaq 100 futures down about 0.3 per cent. Market caution followed warnings from Apple Inc. on rising costs and margin pressures, alongside uncertainty ahead of an expected announcement by US President Donald Trump on his nominee for the next Federal Reserve chair.
US Treasury prices firmed and the dollar edged higher.
Despite the firmer dollar, gold remained resilient, reflecting persistent demand for safe-haven assets amid geopolitical risks and concerns over policy direction. Earlier this week, gold surged to a fresh peak of ₹5,595.02 per ounce, marking its largest intraday gain on record.
Silver also stayed strong in overseas trade, touching a lifetime high of $120.45 per ounce, supported by sustained investor interest in precious metals.
In India, bullion prices tracked the global rally.
Silver has gained more than 69% so far this year, significantly outperforming gold, supported by a combination of investor demand and its industrial use.
Demand moderates as prices surge
While prices remain elevated, physical demand has softened. The World Gold Council said India’s gold demand fell 11% in 2025 to 710.9 tonnes, weighed down by record-high prices and evolving consumer preferences. Demand is expected to remain lower in 2026.
However, higher prices sharply increased the value of demand. In rupee terms, India’s gold demand rose 30% year-on-year in 2025, reflecting the impact of soaring prices despite lower volumes.
Globally, total gold demand crossed 5,000 tonnes in 2025, driven primarily by investment demand as investors sought protection against economic uncertainty and geopolitical risks.
-With agencies inputs
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