Gold jumps ₹11,486 in a day to ₹1.76 lakh/10 gm:Silver surges ₹68,228 in three days, both hit record highs

Gold and silver prices have touched fresh all-time highs for the fourth consecutive day. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold rose by ₹11,486 on January 29 to ₹1,76,121. Over the past three days, gold prices have climbed by ₹21,811. On January 23, gold was priced at ₹1,54,310 per 10 grams. Silver also witnessed a sharp rise. The price of one kilogram of silver increased by ₹27,666 on Thursday to ₹3,85,933 per kg. In the last three days alone, silver prices have jumped by ₹68,228. On Friday, silver was trading at ₹3,17,705 per kg. So far this year, in just 29 days, silver prices have surged by ₹1.55 lakh, while gold has gained ₹43,000.
Why are rates different in different cities? Gold prices released by the India Bullion and Jewellers Association (IBJA) do not include 3% GST, making charges, or jewellers’ margins. As a result, gold prices may vary across cities. The Reserve Bank of India (RBI) uses IBJA rates to determine Sovereign Gold Bond (SGB) prices, and several banks rely on these rates to set gold loan values. Gold and silver prices surge in January In just 29 days of January, gold prices have risen by ₹42,926. On December 31, 2025, 10 grams of 24-carat gold was priced at ₹1,33,195, which has now climbed to ₹1,76,121. Silver has witnessed an even sharper rise. The price of one kilogram of silver has jumped by ₹1,55,513 during the same period. On December 31, 2025, silver was priced at ₹2,30,420 per kg and has now surged to ₹3,85,933 per kg. 3 major reasons behind the rise in gold prices • Global Tensions and the ‘Greenland’ Issue:
US President Donald Trump’s push to take control of Greenland and his tariff threats against European countries have increased volatility in global markets. Whenever trade war risks rise, investors typically move money out of equities and shift toward safe-haven assets such as gold. • Record Weakness in the Rupee:
Gold prices in India are influenced not only by global rates but also by the dollar–rupee exchange rate. The rupee has fallen to an all-time low of ₹91.10 against the US dollar. According to Jatin Trivedi of LKP Securities, the weak rupee has significantly increased the landing cost of imported gold, pushing domestic prices beyond ₹1.5 lakh per 10 grams. • Strong Buying by Central Banks:
Central banks across the world, including the RBI, are increasing gold reserves to strengthen foreign exchange holdings. As per World Gold Council data, after record purchases in 2025, central bank demand has remained strong in early 2026, driving prices higher amid limited supply. 3 key reasons for the rise in silver prices • Strong Industrial Demand:
With rising use in solar power, electronics, and electric vehicles, silver is no longer limited to jewellery and has become a critical industrial metal. • Fear of US Tariffs:
Concerns over potential US tariffs have prompted American companies to stockpile silver, leading to supply shortages and higher global prices. • Advance Buying by Manufacturers:
Manufacturers are purchasing silver in advance due to fears of production disruptions, which is expected to keep prices elevated in the coming months. Gold Could Touch ₹1.90 Lakh According to Research Head Dr. Renisha Chainani, if US tariff policies and geopolitical tensions in the Middle East intensify further, gold prices could rise to ₹1,90,000 per 10 grams in 2026. Silver prices, meanwhile, could climb to ₹4 lakh per kg. 2 things to keep in mind when buying gold 1. Buy Only Certified Gold:
Always purchase BIS-hallmarked gold. The hallmark number, which may be alphanumeric (for example, AZ4524), certifies the purity and caratage of the gold. 2. Cross-Check Prices:
Verify the gold price and weight on the day of purchase using multiple sources such as the India Bullion and Jewellers Association (IBJA). Prices vary for 24-carat, 22-carat, and 18-carat gold. 4 simple ways to identify genuine silver · Magnet Test: Pure silver does not attract a magnet. If it sticks, the item is likely fake. · Ice Test: Place an ice cube on the silver. Ice melts much faster on real silver due to its high conductivity. · Smell Test: Genuine silver has no smell. A copper-like odor usually indicates fake silver. · Cloth Test: Rub the silver with a white cloth. A black mark on the cloth suggests the silver is authentic.