Gold prices in India made a solid comeback after a brief pause seen yesterday. The commodity market this morning experienced a massive rebound in both gold and silver rates. The 24k gold rate in India today surged by Rs. 5,400 per 10 grams, breaking past its previous record high and continuing the bullish sentiment in precious metals.
January 2026 has turned out to be extremely profitable for gold and silver investors so far. In just 23 days, gold prices in India have jumped 14.2%, while silver rates in India have rallied an impressive 42% during the same period.
This unstoppable rally in gold and silver is largely because of cues from global markets. The US dollar index slipped to a two-week low, pushing investors towards the precious metals.
Additionally, easing geopolitical tensions after the US President softened his stance on the Greenland acquisition issue helped improve market sentiment and supported the rebound.
According to CME FedWatch, markets are now expecting more interest rate cuts by the US Federal Reserve, that could further strengthen gold prices in the coming months.
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Gold Rate in India today
On 23rd January, 24-carat gold rates in India stood at Rs. 1,59,710 per 10 grams with a rise of Rs.5400, whereas the 22-carat gold rates rose by Rs.4,950 to cost Rs.1,46,400. In a similar line, the 18-carat gold rates in India are now expensive and cost Rs. 1,19,780 after spiking by Rs. 4,050.
Just like that, 100 grams of 24-carat gold retails at Rs. 15,97,100 with a rise of 54,000 22-carat gold per 100 g retails at Rs. 14,64,000 with a jump of Rs. 49,500, and 18-carat gold per 100 grams spiked by Rs.40500 to retail at Rs. 11,97,800.
Silver Prices in India Today
Following gold's path, silver rates in India breached another record today by surging Rs. 15000 per kg and currently retailing at Rs.3,40,000. Similarly, 100 grams of silver cost Rs. 34,000 after rising by Rs. 1500.
MCX Gold and Silver Futures Update
Gold futures on the Multi Commodity Exchange (MCX), set to be delivered on February 5th, jumped by 1,11% and are currently trading at Rs. 1,58,078 per 10 grams. Meanwhile, silver futures, with a delivery date of March 5th, are trading higher by 2.30% at Rs.3,34,593 per Kg at the time of writing,
Spot Gold & Spot Silver Prices in the International Market Today
According to KITCO, spot gold is currently trading around $4954.90 per ounce, up 0.39 % from the previous close. Meanwhile, spot silver is priced at $98.59 per ounce after rising 2,26%.
"Spot Gold is likely to trade with positive bias and rise towards the $5000 level on a weak dollar and softening of US treasury yields. Further, prices may move up on the expectation of 2 more rate cuts this year.. Moreover, concern over Fed independence and strong central bank buying would be supportive for the prices. Meanwhile, all eyes will be on the Bank of Japan monetary policy meeting and economic data from the US," as per ICICI Direct Commodity Report.
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Credit: Goodreturns
