Gold prices in Ahmedabad dipped sharply on Friday, January 31, following a broad correction in domestic and global bullion markets. After a strong rally over recent weeks, profit booking and a stronger dollar weighed on gold, leading to weakening prices in local retail rates.
📍 Latest gold rates in Ahmedabad today (per gram)
| Gold Purity | Rate in Ahmedabad (Jan 31) |
|---|---|
| 24-carat gold | ₹16,063 |
| 22-carat gold | ₹14,725 |
| 18-carat gold | ₹12,049 |
These figures represent the indicative retail prices in Ahmedabad on January 31. Actual prices may vary slightly across jewellers due to making charges, taxes and local premiums.
What caused the fall in gold prices?
Gold’s weakness in Ahmedabad followed steep selling in both domestic and international markets:
- On the domestic futures market, gold February 5 contracts recorded substantial losses, settling sharply lower after intense selling pressure.
- In the international market, COMEX gold futures plunged by $591 to close at $4,763 per ounce, pressured by a rebound in the US dollar and shifting expectations around monetary policy.
Market participants attributed the sharp fall to profit booking after an extended rally, which had pushed gold prices into overbought territory. When sentiment shifted, widespread unwinding of positions triggered steep declines and heightened volatility.
Gold prices in Ahmedabad remain sensitive to global spot rates, currency movements, import duties and local demand trends, and traders expect volatility to continue in the near term.
Gold rates mentioned above are indicative and do not include GST, TCS or other levies. Actual prices may differ slightly at different jewellers.
Disclaimer: This information is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.
