Gold and Silver Rates Today, January 16: Gold and silver prices eased on Friday, January 16, as investors booked profits. In Mumbai, the price of 24-carat gold rose to Rs 1,43,400 per 10 grams, while 22k
gold was available at Rs 1,31,450 per 10 grams. These rates do not include GST and making charges. However, silver also touched its fresh all-time high of Rs 2,95,100 per kg in the spot market.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On January 16?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,31,600 | Rs 1,43,550 |
| Jaipur | Rs 1,31,600 | Rs 1,43,550 |
| Ahmedabad | Rs 1,31,500 | Rs 1,43,450 |
| Pune | Rs 1,31,450 | Rs 1,43,400 |
| Mumbai | Rs 1,31,450 | Rs 1,43,400 |
| Hyderabad | Rs 1,31,450 | Rs 1,43,400 |
| Chennai | Rs 1,31,450 | Rs 1,43,400 |
| Bengaluru | Rs 1,31,450 | Rs 1,43,400 |
| Kolkata | Rs 1,31,450 | Rs 1,43,400 |
In the international market, spot gold was down marginally at $4,599.2 per ounce on the COMEX. Spot silver slid to $90.05 per ounce.
With Iran’s leadership trying to quell the worst domestic unrest the country has ever faced since the 1979 revolution, Tehran threatened on US military bases in the region, seeking to deter Trump’s repeated threats of military intervention. At the White House, however, Trump suggested he was adopting a wait-and-see posture toward the crisis.
Trump said on Wednesday that he has no plans to fire Jerome Powell despite a Justice Department criminal investigation into the Federal Reserve chair, but it was “too early” to say what he would ultimately do.
Later in the day, investor focus will be on US weekly jobless claims for the first week of January to assess labour market conditions for more clues on monetary policy. Traders continue to anticipate two interest rate cuts this year.
A low-interest-rate environment, geopolitical and economic uncertainty traditionally favour non-yielding assets such as gold.
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.
