Gold Prices Jump Over 2 Percent Today.

Gold surged sharply in early trade on Wednesday, January 28, with MCX prices climbing close to 2 per cent and crossing the Rs 1.6 lakh per 10 grams milestone

for the first time. The rally was driven by ongoing geopolitical uncertainty, a softer US dollar, and robust demand in the spot market. MCX gold February futures spiked by over Rs 4,700, around 3 per cent, to hit a new all-time high of Rs 1,62,429 per 10 grams. Silver also saw a strong upswing, as MCX silver March futures jumped nearly Rs 21,400, or about 6 per cent, reaching a record level of Rs 3,77,655 per kilogram. Meawhile, when it comes to physical gold, prices show marginal movement compared to yesterday, reflecting short-term market stability. The current rates stand at Rs 16,194 per gram for 24 karat gold, Rs 14,844 per gram for 22 karat gold, and Rs 12,145 per gram for 18 karat gold, according to the data from Goodreturns. Yesterday, the 24 karat gold rate was Rs 16,195 per gram, indicating a negligible decline of Re 1 today. Gold prices in India are shaped by a mix of international and domestic factors. Global gold rates, fluctuations in the US dollar, and seasonal demand, especially during festivals and weddings, play a crucial role. Changes in investor sentiment and broader economic conditions can also cause daily price shifts. Gold Prices Across Major Indian Cities

City	24 Carat	22 Carat	18 carat
Chennai	16,319	14,959	12,474
Mumbai	16,194	14,844	12,145
Delhi	16,209	14,859	12,160
Kolkata	16,194	14,844	12,145
Bangalore	16,194	14,844	12,145
Hyderabad	16,194	14,844	12,145
Kerala	16,194	14,844	12,145
Pune	16,194	14,844	12,145
Vadodara	16,199	14,849	12,150
Ahmedabad	16,199	14,849	12,150
Jaipur	16,209	14,859	12,160
Lucknow	16,209	14,859	12,160
Coimbatore	16,319	14,959	12,474
Madurai	16,319	14,959	12,474
Vijayawada	16,194	14,844	12,145
Patna	16,199	14,849	12,150
Nagpur	16,194	14,844	12,145
Chandigarh	16,209	14,859	12,160
Surat	16,199	14,849	12,150
Bhubaneswar	16,194	14,844	12,145

Expert Comment

Manoj Kumar Jain of Prithvifinmart Commodity Research, noted in a Mint report, "We suggest buying gold on every dip until it holds Rs 1,56,000 on a closing basis for the target of Rs 1,65,000 and buying silver until it holds Rs 3,44,000 on a closing basis for the target of Rs 3,70,000 and Rs 3,84,000."

Silver Rates Today

Alongside gold, silver remains a popular option for both investors and jewellery buyers. Today, silver is priced at Rs 370.10 per gram and Rs 3,70,100 per kilogram. While generally more affordable than gold, silver prices are heavily influenced by global demand, particularly for industrial and manufacturing purposes, which contributes to frequent price fluctuations.