Gold and Silver Rates Today, January 29: Bulls continue to hold charge at the bullion street, with gold surging past Rs 1,75,000 per 10 grams and silver crossing the Rs 4,00,000 per kg mark for the first
time ever. The surge comes following a price jump in the international market, where gold has crossed $5,600 an ounce and silver has surpassed $120 an ounce, amid increased safe-haven buying and the rupee depreciation.
In Mumbai, the price of 24-carat gold rose to its record high of Rs 1,78,750 per 10 grams, while 22k gold was available at Rs 1,63,950 per 10 grams. These rates do not include GST and making charges. Silver also touched its fresh all-time high of Rs 4,10,000 per kg in the spot market.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On January 29?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,64,100 | Rs 1,79,000 |
| Jaipur | Rs 1,64,100 | Rs 1,79,000 |
| Ahmedabad | Rs 1,64,000 | Rs 1,78,900 |
| Pune | Rs 1,63,950 | Rs 1,78,750 |
| Mumbai | Rs 1,63,950 | Rs 1,78,750 |
| Hyderabad | Rs 1,63,950 | Rs 1,78,750 |
| Chennai | Rs 1,63,950 | Rs 1,78,750 |
| Bengaluru | Rs 1,63,950 | Rs 1,78,750 |
| Kolkata | Rs 1,63,950 | Rs 1,78,750 |
In the international market, US spot gold extended its blistering rally on Thursday to hit a record high just shy of $5,600 an ounce, as investors sought safety amid geopolitical and economic uncertainties, while silver came within a whisker of breaching the $120 mark.
Spot gold shot up 2.7% to $5,542.29 an ounce by 0149 GMT, after hitting a record $5,591.61 earlier in the day.
“Growing US debt and uncertainty created by signs that the global trade system is splintering into regional blocs as opposed to a US-centric model (are leading investors to pile into gold),” said Marex analyst Edward Meir.
Prices jumped past the $5,000 mark for the first time on Monday and have gained more than 10% so far this week, driven by a cocktail of factors including strong safe‑haven demand, firm central bank buying and a weaker dollar.
“Gold is no longer just a crisis hedge or an inflation hedge; it is increasingly viewed as a neutral, and a reliable store of value asset that also provides diversification across a wider range of macro regimes,” OCBC analysts said in a note.
Gold has gained more than 27% this year following a 64% jump in 2025.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
