Gold prices in Ahmedabad slipped on Thursday, January 22, tracking the broader correction seen across domestic and international bullion markets after prices scaled record highs earlier this week.
Latest gold rates in Ahmedabad today (indicative)
- 24K gold: around ₹15,400–₹15,500 per gram
- 22K gold: around ₹14,100–₹14,200 per gram
- 18K gold: around ₹11,500–₹11,600 per gram
(Rates are indicative and may vary slightly across jewellers due to making charges, GST and local demand.)
Why gold prices are lower in Ahmedabad today
Profit booking after record highs:
Gold had surged sharply over the past few sessions, touching all-time highs on the MCX. After such a steep rally, traders booked profits, leading to a pullback in city-level prices.
Cooling geopolitical fears:
Safe-haven demand eased after US President Donald Trump softened his stance on Greenland-related tariffs, reducing immediate geopolitical anxiety that had earlier pushed gold higher.
Stronger US dollar:
A rebound in the US dollar weighed on bullion prices globally. Since gold is priced in dollars, a stronger greenback typically puts pressure on prices.
MCX and global cues:
Domestic MCX gold futures declined sharply in early trade, while international spot gold also retreated from record levels, dragging local prices lower in Ahmedabad.
Market outlook
Despite today’s dip, gold remains at historically elevated levels and continues to be supported by broader macro uncertainty, central bank buying and investor interest. However, short-term volatility is likely as markets react to global political developments and currency movements.
Note: Retail gold prices can differ by locality and jeweller depending on premiums, taxes and inventory costs.