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Gold Prices Today: Gold prices boosted by a fresh drop in US Treasury bond yields and growing concerns about potential economic risks from US President Donald Trump’s tariff proposals.
Gold Prices Today In India on January 31, 2025.
Gold Rate Today In India: Gold prices in India jumped on Friday, January 31, 2025, amid higher demand in the international market. Known for its unmatched purity, 24-carat gold continues to attract buyers seeking premium quality. Meanwhile, 22-carat gold, prized for its durability and timeless charm, remains a favourite among jewellery enthusiasts and investors alike, striking a balance between elegance and practicality.
24-Carat Gold, 22-Carat Gold In India
On Wednesday, the price of 24K gold was trading at Rs 84,480 per 10 grams in the national capital New Delhi, while 22K gold was quoted at Rs 77,450 per 10 grams.
“Gold and silver prices were sharply higher, with gold hits new record highs in spot and futures markets globally. Silver prices hit a six-week peak due to disappointing US pending home sales and advance GDP data,” Rahul Kalantri, vice-president (commodities) of Mehta Equities.
In the international market, gold traded at $2,799.2 an ounce, while silver was up at $31.52 an ounce in New York.
Kalantri said safe-heaven demand as well as chart-based buying, support both precious metals. On Thursady, the European Central Bank lowered its interest rates by 0.25 per cent for a fifth straight meeting put pressure on the US dollar index. Gold prices boosted by a fresh drop in US Treasury bond yields and growing concerns about potential economic risks from US President Donald Trump’s tariff proposals.
Here’s a detailed breakdown of gold prices across key cities:
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 77,450 | Rs 84,480 |
| Mumbai | Rs 77,300 | Rs 84,330 |
| Chennai | Rs 77,300 | Rs 84,330 |
| Kolkata | Rs 77,300 | Rs 84,330 |
Silver Price Today in India (January 31, 2025)
Silver prices also surged by Rs 1,000 to Rs 99,500 per kg in major Indian cities on Wednesday, amid weak domestic demand.
Gold, Silver Prices On MCX
In the futures market in India, gold was trading up by 0.25 per cent at Rs 82,250 per 10 grams, while silver was higher by 0.20 per cent at Rs 93,635 per kg on the MCX in the morning trade.
“MCX gold touched a record high of Rs 82,100 per 10 gm after Trump said on Thursday that the United States would impose a 25 per cent tariff on exports from Mexico and Canada, which increased uncertainty in the market as his plan stoked fears of trade wars and prospects of an economic slowdown,” said Deveya Gaglani, senior research analyst (commodities) at Axis Securities.
What Factors Affect Gold Prices in India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
