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Gold and silver prices in India continued their upward momentum for the second consecutive day, driven by rising global uncertainty and fresh geopolitical tensions. Strong safe-haven demand has pushed precious metal prices higher, with gold becoming costlier across major cities and silver recording a sharp rally over the past nine days.

According to the latest market data, gold prices witnessed a fresh increase on Tuesday after a brief pause earlier. In the national capital Delhi, 24-carat gold became costlier by ₹10 per 10 grams, while 22-carat gold also rose by ₹10 per 10 grams. Over the last two days alone, 24-carat gold prices have jumped by ₹2,470 per 10 grams, while 22-carat gold has gained ₹2,260 per 10 grams.

Silver, meanwhile, has delivered an even stronger performance. After a day of stability, silver prices have risen for the second straight day. In Delhi, silver has gained ₹10,100 per kg in the last two days. Looking at a broader time frame, silver prices have surged by ₹45,100 per kg in just nine days, despite a brief correction and one day of sharp decline during this period.

City-wise Gold Prices Today in India

Here is a look at the latest 10-gram gold prices for different purity levels across major Indian cities:

Prices may vary slightly depending on local taxes, making charges, and jeweller margins.

Silver Prices Surge Across Cities

Silver prices have also remained firm across major markets. On January 20, silver in Delhi rose by ₹100 per kg and is currently trading at ₹3,05,100 per kg. Similar price levels are seen in Mumbai and Kolkata. However, Chennai remains the most expensive market for silver, where prices have touched ₹3,18,100 per kg.

Market experts note that despite short-term volatility, silver has shown remarkable strength over the past few sessions, supported by both investment demand and industrial usage.

Why Are Gold and Silver Prices Rising?

The primary reason behind the sharp rise in gold and silver prices is escalating geopolitical tension linked to trade and tariff threats. US President Donald Trump has warned of imposing fresh tariffs on several European countries that have opposed US control over Greenland.

According to reports, from February 1, 2026, the United States may levy a 10% tariff on imports from countries such as Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland. In response, lawmakers in the European Union are considering delaying approval of trade agreements with the US.

The situation has further intensified after President Trump indicated that tariffs could be raised up to 25% if no agreement is reached by June. This has significantly increased uncertainty in global markets, prompting investors to shift funds toward safe-haven assets like gold and silver.

Market Outlook

Analysts believe that as long as global uncertainty, trade tensions, and geopolitical risks persist, gold and silver prices are likely to remain volatile with an upward bias. While short-term profit booking cannot be ruled out at elevated levels, the broader outlook for precious metals continues to stay positive due to strong safe-haven demand.

For investors and buyers, keeping a close watch on global developments, currency movements, and central bank signals will be crucial in the coming days.