Gold and silver prices surged sharply on Wednesday, January 14, tracking strong global cues amid rising economic uncertainty and ongoing geopolitical tensions. Bullion prices climbed across major Indian cities, with both metals touching fresh record levels in domestic markets.
In Mumbai, the price of 24-carat gold stood at Rs 1,43,620 per 10 grams, while 22-carat gold was priced at Rs 1,31,650 per 10 grams. Similar levels were seen across metros including Delhi, Chennai, Bengaluru and Kolkata, with marginal variations depending on local taxes and logistics costs. These rates are exclusive of GST and making charges.
Silver prices also extended their rally, touching a fresh all-time high of around Rs 2,90,900 per kg in the spot market. The sharp jump reflects strong global demand, supply constraints and sustained buying interest in precious metals.
On the Multi Commodity Exchange (MCX), gold futures for the February 5, 2026 contract were trading around Rs 1,43,092 per 10 grams, up nearly 0.60% in early trade. Meanwhile, silver futures for the March 5, 2026 contract jumped over 4% to trade near Rs 2,86,877 per kg, mirroring the strong international rally.
Gold prices in India are largely influenced by international bullion prices, currency movements, import duties and domestic taxes. Fluctuations in the rupee against the US dollar also play a key role in determining daily rates. Silver prices, similarly, track global trends while reflecting local demand and supply dynamics.
In India, gold and silver hold significant cultural and financial importance, especially during weddings, festivals and periods of economic uncertainty. With prices remaining volatile, market participants continue to closely monitor global developments for further direction.
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