Gold prices in Vadodara declined sharply on Friday, January 30, tracking the broader correction across domestic and global bullion markets after gold touched record highs earlier this week.
Gold rates in Vadodara today (per gram)
- 24K gold: ₹17,062
- 22K gold: ₹15,640
- 18K gold: ₹12,797
Prices across all purity levels are lower compared with the previous session, reflecting the steep fall in MCX gold futures.
Why gold prices fell today
MCX gold corrects after record highs
Gold and silver prices witnessed a sharp correction on the Multi Commodity Exchange (MCX). Gold futures fell over 4%, while silver futures slipped more than 5%, pulling down spot prices in Vadodara and other cities.
Profit booking after extreme rally
The primary trigger is aggressive profit booking. Gold had surged to historic highs in recent sessions. After such a near-vertical rally, traders moved swiftly to lock in gains, leading to heavy selling pressure.
Stronger US dollar adds pressure
A rebound in the US dollar after the Federal Reserve’s policy decision weighed on gold. A firmer dollar typically pressures dollar-priced commodities by making them costlier for non-US buyers.
Global spillover and India premium compression
Internationally, spot gold fell around 3.3% after failing to sustain record levels. As global prices cooled, India’s elevated premium began to compress, amplifying the downside move in domestic markets, including Vadodara.
What Vadodara buyers should note
The decline reflects short-term market adjustments and profit taking, rather than a change in long-term demand fundamentals. Prices may remain volatile in the near term, tracking global cues and currency movements.
Disclaimer: Gold rates are indicative and do not include GST, TCS, or making charges. Actual prices may vary across jewellers in Vadodara.
