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Gold prices climb sharply amid global tensions and economic uncertainty

Gold prices continued their upward march on January 22, 2026, reflecting strong demand for safe-haven assets in the wake of rising global uncertainty. In the domestic market, 24 carat gold touched a fresh peak of ₹1,56,760 per 10 grams, while 22 carat gold was priced at ₹1,43,710 per 10 grams. Alongside gold, silver prices also moved higher, indicating broad-based strength in precious metals.

Market experts attribute the sharp rise in bullion prices to a combination of geopolitical tensions, inflationary pressures, and weakness in global financial markets. As investors look for stability during uncertain times, gold and silver continue to attract significant attention.

Gold rates in major cities

In the national capital, the price of 24 carat gold stood at ₹1,56,760 per 10 grams, while 22 carat gold was selling at ₹1,43,710 per 10 grams. Similar trends were seen in other major cities, where gold prices hovered near record levels.

In cities such as Mumbai, Chennai, and Kolkata, 24 carat gold was trading around ₹1,56,610 per 10 grams, while 22 carat gold was priced near ₹1,43,560 per 10 grams. Other urban markets like Jaipur, Lucknow, and Chandigarh also reported prices close to the national average, reflecting a uniform rise across regions.

Analysts say the domestic bullion market is closely tracking global cues, including movements in international gold prices and currency fluctuations.

International factors driving gold prices

In the global market, spot gold surged to USD 4,888.46 per ounce, marking a significant increase. According to analysts, rising geopolitical friction between major global economies, coupled with concerns over fiscal stability and persistent inflation, has pushed investors toward safe-haven investments.

Additionally, higher global bond yields and uncertainty surrounding future monetary policy decisions have further strengthened gold’s appeal. When traditional investment avenues become volatile, precious metals often benefit from increased inflows, and the current trend reflects that pattern clearly.

Silver prices also on the rise

Silver prices mirrored gold’s upward momentum on January 22. In the domestic market, silver jumped to ₹3,30,100 per kilogram. Internationally, spot silver climbed to USD 94.91 per ounce, supported by both investment demand and industrial usage expectations.

Experts note that silver often follows gold’s trajectory during periods of economic stress. However, its dual role as an industrial metal can sometimes amplify price movements, making it more volatile than gold.

What should investors watch next?

Market watchers believe that gold and silver prices may remain elevated in the near term if global uncertainty persists. Factors such as geopolitical developments, inflation data, interest rate expectations, and currency movements will play a crucial role in determining the next direction for bullion prices.

Investors are advised to keep a close eye on international developments and consult financial experts before making investment decisions, especially at a time when prices are hovering near record highs.