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Gold prices continued their upward journey on January 24, 2026, extending the rally seen over the past few weeks. Alongside gold, silver also recorded strong gains, reflecting sustained investor demand amid global uncertainty. Rising geopolitical risks, a softer US dollar, and strong safe-haven buying have pushed precious metals to fresh highs both in domestic and international markets.

In the international bullion market, spot gold surged to a record level of $4,967.41 per ounce, reinforcing bullish sentiment across global commodity exchanges. The sharp rise has had a direct impact on domestic prices, making gold costlier for Indian buyers.

Gold Prices Climb in Indian Markets

In India, gold prices witnessed a noticeable increase in major cities on Friday morning. In the national capital, 24-carat gold rose to ₹1,57,310 per 10 grams, while 22-carat gold was priced at ₹1,44,210 per 10 grams. The price rise reflects strong global cues combined with sustained domestic demand.

Other metro cities such as Mumbai, Chennai, and Kolkata also reported elevated prices. In these cities, 24-carat gold is currently trading at ₹1,57,160 per 10 grams, while 22-carat gold is priced at ₹1,44,060 per 10 grams.

Cities like Pune and Bengaluru mirrored similar trends, with identical rates for both 22-carat and 24-carat gold, indicating uniform pricing across key urban centers.

City-Wise Gold Rates Today (Per 10 Grams)

City 22 Carat Gold (₹) 24 Carat Gold (₹)

Delhi	1,44,210	1,57,310
Mumbai	1,44,060	1,57,160
Ahmedabad	1,44,110	1,57,210
Chennai	1,44,060	1,57,160
Kolkata	1,44,060	1,57,160
Hyderabad	1,44,060	1,57,160
Jaipur	1,44,210	1,57,310
Bhopal	1,44,110	1,57,210
Lucknow	1,44,210	1,57,310
Chandigarh	1,44,210	1,57,310

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

What Is Driving the Gold Rally?

Several global and domestic factors are supporting the current surge in gold prices. Persistent geopolitical tensions have increased demand for safe-haven assets. At the same time, weakness in the US dollar has made gold more attractive for international investors.

Investment demand has also remained strong, with central banks and institutional investors continuing to increase their gold holdings as a hedge against economic and policy uncertainties.

Adding to the bullish outlook, global investment bank Goldman Sachs has revised its gold price forecast upward. The brokerage has increased its December 2026 gold price target from $4,900 per ounce to $5,400 per ounce. According to the firm, investors diversifying away from traditional assets to protect themselves from global policy risks are unlikely to reduce their gold holdings in the coming year.

Silver Also Shines Bright

Silver prices also recorded a strong upward move on January 24. In the domestic market, silver prices climbed to ₹3,40,100 per kilogram, reflecting robust demand and positive global cues.

In overseas markets, spot silver rose to $99.46 per ounce, inching closer to the psychologically important $100 mark. Analysts believe that silver is benefiting from a combination of industrial demand and its appeal as a precious metal investment.

Global and Domestic Factors at Play

The prices of gold and silver in India are influenced by a mix of international and local factors. These include global spot prices, currency exchange rates, import duties, and domestic demand trends. Any movement in global markets is quickly reflected in Indian prices due to the country’s dependence on precious metal imports.

Outlook for Investors

With gold and silver trading near record highs, investors are closely watching global economic developments. While short-term volatility cannot be ruled out, many market experts believe that precious metals could remain supported as long as uncertainty persists in global financial markets.

For buyers, especially those planning jewellery purchases or long-term investments, tracking daily price movements has become increasingly important.