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Silver and gold prices have reached their highest level for the fourth consecutive day. According to India Bullion and Jewelers Association (IBJA), today on January 29, the price of 10 grams of 24 carat gold has increased by Rs 11,486 to Rs 1,76,121. Gold has become costlier by Rs 21,811 in three days. Earlier, the price of gold on January 23 was Rs 1,54,310/10g.
At the same time, the price of one kg silver has increased by Rs 27,666 to Rs 3,85,933 per kg. The price of silver has become costlier by Rs 68,228 in three days. Earlier on Friday, its price was Rs 3,17,705 per kg. So far this year, in just 29 days, silver has become costlier by Rs 1.55 lakh and gold by Rs 43 thousand.
Why are rates different in different cities?
IBJA gold prices do not include 3% GST, making charge, jewelers margin. Therefore the rates of cities are different from this. RBI uses these rates to decide the rates of Sovereign Gold Bond. Many banks use it to decide the rates of gold loan.
Gold became costlier by ₹ 42,926 and silver by ₹ 1,55,513 in 29 days
In just 29 days of January this year, the price of gold has increased by Rs 42,926. On December 31, 2025, 10 grams of 24 carat gold was worth Rs 1,33,195, which has now become Rs 1,76,121.
At the same time, silver has become costlier by Rs 1,55,513. On December 31, 2025, the price of one kg silver was Rs 2,30,420, which has now reached Rs 3,85,933 per kg.
3 big reasons for the rise in gold
- Global tension and ‘Greenland’ dispute: US President Donald Trump’s insistence on annexing Greenland and threat of tariffs to European countries over this issue has increased volatility in global markets. Whenever the threat of trade war increases in the world, investors withdraw money from the stock market and run towards safe investment i.e. gold.
- Record weakness of rupee : Gold price in India depends not only on global rates but also on the dollar-rupee exchange rate. Today the rupee is at an all-time low of ₹91.10 against the dollar. According to Jatin Trivedi of LKP Securities, the landing cost of gold bought internationally has become very expensive in India due to the weak rupee, pushing prices in the domestic market beyond ₹1.5 lakh.
- Heavy purchases by Central Banks: Central banks around the world (like India’s RBI) are increasing gold stocks to safeguard their foreign exchange reserves. According to World Gold Council data, after record purchases in 2025, demand from central banks remains strong in early 2026, due to which prices are increasing due to low supply and high demand.
3 main reasons for the rise in silver
- Industrial Demand – Heavily used in solar, electronics and EV, silver has now become an essential raw material and not just jewellery.
- Trump’s tariff fear – American companies are accumulating huge stocks of silver, prices rose due to reduction in global supply.
- Manufacturers in competition – Everyone is already buying due to the fear of production stoppage, which is why the rise will continue in the coming months also.
Gold can go up to ₹1.90 lakh
According to Research Head Dr Renisha Chainani, if US tariffs and tensions in the Middle East increase further, gold may go up to Rs 1,90,000 per 10 grams in 2026. Whereas silver can go up to Rs 4 lakh.
Keep these 2 things in mind while buying gold
1. Buy only certified gold: Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). This number can be alphanumeric i.e. something like this – AZ4524. Hallmarking shows how many carats the gold is.
2. Price Cross Check: Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
4 ways to identify real silver
- Magnet Test: Real silver does not stick to magnets. If it sticks then it is fake.
- Ice Test: Place ice on silver. Ice will melt much faster on real silver.
- Smell Test: Real silver has no smell. Fakes may smell like copper.
- Cloth Test: Rub the silver with a white cloth. If a black mark appears then it is real.
Read this news also…
Indian households have more gold than the country’s GDP: 34,600 tonnes of gold worth ₹450 lakh crore, country’s GDP ₹370 lakh crore
The total value of gold held by Indian households has crossed $5 trillion (₹450 lakh crore). This figure is more than the country’s total GDP of 4.1 trillion dollars i.e. Rs 370 lakh crore. This has happened due to gold prices reaching record high. According to a report by Morgan Stanley, about 34,600 tonnes of gold is deposited in Indian homes.
Currently the value of gold is around Rs 1.38 lakh per 10 grams. Whereas in the international market, gold is trading beyond $ 4,500 per ounce (about 28 grams). If we convert it into rupees then its value is around Rs 1.30 lakh per 10 grams. Read the full news…
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