Gold prices in Delhi continued to slide on Friday, January 31, as bullion markets experienced sharp correction after an extended rally earlier in the month. Traders and buyers in the capital closely tracked softer prices amid global pressure and weak trend in futures.
📍 Latest gold rates in Delhi today (per gram)
| Gold Purity | Rate in Delhi (Jan 31) |
|---|---|
| 24-carat gold | ₹16,073 |
| 22-carat gold | ₹14,735 |
| 18-carat gold | ₹12,059 |
These rates reflect current retail price levels in the city and are impacted by global trends, currency movements and local demand.
What caused the fall in gold prices?
Domestic gold price weakness in Delhi mirrored broader selling pressures:
- On the domestic futures market, gold February 5 contracts recorded a significant drop, settling sharply lower after intense selling.
- In the international market, COMEX gold futures plunged by $591 to close at $4,763 per ounce, as the US dollar rebounded strongly and markets reassessed interest-rate expectations.
Traders said the correction is driven by profit booking after an extended rally, which had pushed prices into technically overbought levels. The sudden reversal in global cues triggered widespread unwinding of positions, leading to heightened volatility.
Gold prices in Delhi remain sensitive to international spot prices, currency fluctuations, import duties and local buying trends, and traders expect volatility to continue near term.
Gold rates mentioned above are indicative retail prices and do not include GST, TCS or other levies. Actual prices may differ slightly across dealers.
Disclaimer: This information is for informational purposes only and should not be considered financial or investment advice. Always consult your own research or a financial advisor before making investment decisions.
