Gold Price Today: Gold prices witnessed a mild correction last month, but with the beginning of the new year, the yellow metal has once again gained momentum. Rising tensions between the United States and Venezuela have increased uncertainty in global markets, directly boosting demand for gold. In such situations, investors tend to move away from riskier assets like equities and prefer safe-haven investments such as gold. As a result, gold prices have strengthened in both international and domestic markets.
Gold Prices Rise Again
After a brief decline on Thursday and Friday last week, gold prices in India rebounded on Saturday, with the upward trend becoming more evident on Monday, January 19. Today, the price of 24-carat gold surged by ₹1,910 to reach ₹1,45,690 per 10 grams. Meanwhile, 22-carat gold rose by ₹1,750 to trade at ₹1,33,550 per 10 grams. Prices of 18-carat gold also increased by ₹1,430, reaching ₹1,09,270 per 10 grams.
On the other hand, silver created history on the MCX by touching ₹3 lakh per kilogram for the first time.
City-Wise Gold Prices
In the national capital Delhi, 24-carat gold is being sold at ₹1,45,840 per 10 grams, while 22-carat gold is priced at ₹1,33,700 and 18-carat gold at ₹1,09,420 per 10 grams. In major cities such as Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune, 24-carat gold is available at ₹1,45,690, 22-carat at ₹1,33,550, and 18-carat gold at ₹1,09,270 per 10 grams.
Chennai continues to record the highest gold prices in the country, where 24-carat gold is trading at ₹1,46,730 per 10 grams. The price of 22-carat gold in the city stands at ₹1,34,500, while 18-carat gold is being sold at ₹1,12,300 per 10 grams.
What Determines Gold Prices?
Several key factors influence gold prices. Whenever there is global instability such as war, geopolitical tensions, or economic uncertainty, demand for gold tends to rise. In addition, the strength of the rupee against the US dollar, expectations of interest rate cuts by the US Federal Reserve, inflation levels, and increased demand during India’s wedding and festive seasons also play a significant role in determining gold prices.
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