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Gold, Silver Price Today: Gold and silver climbed to record highs on Wednesday (January 21), buoyed by increased safe-haven demand amid ongoing geopolitical
uncertainty. Investors worldwide also turned their attention to a speech by US President Donald Trump scheduled for later in the day, which could further support demand for safe-haven assets. As of 10:35 am, gold was up 4.2 per cent, or Rs 6,366, to trade at Rs 1,56,931. The yellow metal hit a record high of Rs 1,58,339 earlier in the session. Silver, meanwhile, was up 2.4 per cent, or Rs 7,736, trading at Rs 3,31,408. The white metal touched an all-time high of Rs 3,34,027 earlier in the day.
Geopolitical tensions boost bullion prices
“Gold continues to remain strong. As long as the so-called ‘Greenland issue’ is not resolved, this positivity should persist,” said Ravi Deora, Analyst at Kunvarji Group.On the geopolitical front, Trump said on Tuesday that there was “no going back” on his goal to control Greenland, refusing to rule out taking the Arctic island by force and lashing out at NATO allies, according to a Reuters report.
Gold is traditionally viewed as a safe-haven asset, as it tends to hold or increase in value during periods of economic instability and market volatility.
Rupee weakness adds to gold’s rally
Adding further support to bullion prices, the Indian rupee depreciated 31 paise to an all-time low of 91.28 against the US dollar in early trade on Wednesday.A weaker rupee makes dollar-priced gold more expensive in India, thereby pushing MCX gold prices higher.
Market focus on Trump’s WEF speech
“Today, the market’s focus will be on the World Economic Forum, where the US President is scheduled to speak at 7:00 pm. The entire market is focused on that speech. Until then, the bullish momentum in bullion is likely to continue,” Deora added.US President Donald Trump is set to take centre stage at the World Economic Forum (WEF) 2026 in Davos, Switzerland, where global leaders, policymakers, and business executives gather to discuss key economic and political challenges.
Global bullion markets also at record levels
In the international market, gold also hit an all-time high of USD 4,878.11, surpassing the USD 4,800 mark for the first time. Silver prices turned flat after breaching the USD 95 mark, touching a high of USD 95.8956 earlier in the session.Additionally, spot platinum hit a record high of USD 2,511.80 earlier in the day.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
