Gold & Silver Prices in India 2026: Latest Daily Rates, Why Prices Are So High & What It Means for You
If you’ve checked gold or silver prices recently and wondered why they’re so high, what’s driving the trend, or whether you should buy now or wait, you’re not alone. Soaring prices are grabbing headlines across India — and this comprehensive blog breaks it all down for you in simple language. We explain today’s prices, daily movements, why prices are rising, how different cities vary, and what buyers & investors should know.
Gold & Silver Prices Today (As of Jan 29, 2026)
| Metal | Price in India | Unit | Notes |
|---|---|---|---|
| Gold | Around ₹1,45,000+ | Per 10 g | MCX & retail trend |
| Silver | Around ₹4,00,000+ | Per kg | Big jump in early 2026 |
These are indicative prices based on MCX and market movement reports — final retail rates may vary with GST & making charges.
Key Price Movements This Week
Recent updates show:
- Silver price jumped over ₹17,000 in a single session and crossed ₹4 lakh/kg — a historic rally.
- Gold prices also continued upward movement with steady demand.
Chart: Gold & Silver weekly price movement (line chart over the last month).
Why Gold & Silver Prices Are Rising
Here are the main factors driving prices up:
1. Global Economic Uncertainty
When the world economy seems shaky — like geopolitical tensions, slow growth, or inflation — people buy gold and silver as safe assets. This safe-haven demand pushes prices up.
2. Weak Indian Rupee
Since gold and silver are priced globally in US dollars, a weaker rupee means Indian buyers pay more in rupees.
3. Industrial Demand (Especially for Silver)
Silver isn’t just jewelry — it’s used in electronics, solar panels, EVs and tech manufacturing. Strong industrial demand adds another layer of price pressure.
4. Central Bank & ETF Buying
Global central banks and investors are adding gold and silver through ETFs and reserves as inflation hedges — reducing market supply and supporting prices.
5. Local Indian Demand Patterns
Festivals (like Diwali/Dhanteras), weddings, and cultural buying habits keep demand stable or rising in India — sustaining retail demand despite high prices.
Why Prices Vary By City in India
Gold & silver prices aren’t exactly the same everywhere in India because:
- Local Taxes & State Levies — Some states have slightly different tax structures, affecting retail price.
- Transportation & Logistics Costs — Metals shipped longer distances add cost.
- Local Demand Trends — Cities with higher buying activity (festive or wedding seasons) show slightly higher rates.
Table Example:
| City | Gold Price (per 10g) | Silver Price (per kg) | Notes |
|---|---|---|---|
| Delhi | ₹1,45,000* | ₹3,98,000* | High demand |
| Mumbai | ₹1,44,500* | ₹4,02,000* | Slight transport premium |
| Kolkata | ₹1,43,700* | ₹4,00,000* | Retail variation |
| Estimated averages, subject to change |
Investors vs Buyers
For Daily Buyers (Festivals & Weddings)
- Buy in dips: If prices soften even slightly before festivals, it may be better.
- Watch making charges — these add significantly to your total cost.
For Investors
- Gold is traditionally a stable hedge in inflation and uncertainty.
- Silver is more volatile but has industrial prospects, so returns can be higher — but risk too.
Simple Trend Summary
Silver
- Rocketed ~75% in early 2026.
- Industrial demand and tightening supply are key drivers.
Gold
- Strong safe-haven demand, sustained by global uncertainty.
- Retail and investment demand both contribute.
Expert Price Outlook (2026 & Beyond)
Analysts expect:
- Gold may trade even higher — potentially ₹1.50 lakh+ per 10 g.
- Silver targets range from ₹3 lakh to ₹4 lakh per kg or more, depending on global conditions.