Gold and silver prices traded lower across major Indian cities on Thursday, January 22, as easing global tensions weighed on safe-haven demand. The decline
came after US President Donald Trump withdrew his threat of imposing tariffs on European nations and indicated that a “framework for a future deal” on Greenland had been agreed. According to the India Bullion and Jewellers Association (IBJA), gold was trading at around Rs 1,53,810 per 10 grams, while silver stood at Rs 3,17,230 per kilogram in early trade. Gold Rates Today Across Indian Cities In Mumbai, the country’s financial hub, 24-carat gold was retailing at approximately Rs 1,53,530 per 10 grams. Kolkata followed closely at Rs 1,53,330, while prices in the national capital, Delhi, were slightly lower at Rs 1,53,270. Southern cities continued to command a premium over other regions. Chennai recorded the highest gold price among major metros at Rs 1,53,980 per 10 grams. Hyderabad and Bengaluru followed at Rs 1,53,780 and Rs 1,53,660 respectively, maintaining the regional price gap driven by demand and local levies. Gold prices (per 10 grams):
- Mumbai: Rs 1,53,530
- Delhi: Rs 1,53,270
- Bengaluru: Rs 1,53,660
- Chennai: Rs 1,53,980
- Hyderabad: Rs 1,53,780
- Kolkata: Rs 1,53,330
Silver Rates Today
Silver also traded lower, though it continued to outperform gold in absolute price terms. The all-India average price stood at Rs 3,17,230 per kg. In Mumbai, silver was quoted at around Rs 3,16,660 per kg.
In Delhi, the white metal was trading near Rs 3,16,110 per kg. Southern markets once again reported higher levels, with Chennai at Rs 3,17,580 per kg and Hyderabad at Rs 3,17,160 per kg, reflecting stronger local demand and tax variations.
Global Market Cues
In the international market, bullion prices declined after a strong rally earlier in the week. Bloomberg reported that gold fell as much as 1.1% in early trading, retreating after three consecutive sessions of gains that had pushed prices to a record high above $4,888 an ounce on Wednesday. Silver dropped even more sharply, sliding 2.1% to $91.13 an ounce.
Despite the day’s pullback, gold prices remain firmly supported. Bullion has surged more than 70% over the past year, repeatedly hitting fresh highs. Ongoing geopolitical uncertainty, combined with renewed criticism of the US Federal Reserve by the Trump administration, has weakened confidence in the dollar and continued to underpin demand for precious metals in early 2026.
