The gold and silver prices in India on January 31, 2026, will continue to depend on international market trends and domestic market needs and changing currency exchange rates.
Indian society values gold and silver as essential elements that people use during festivals and weddings and for their investment needs. The current gold and silver prices show the following information:
Strategic Hedging
The present market movements demonstrate domestic investors using strategic hedging methods to handle the current international market challenges.
The market values 24K gold at Rs 16,026 per gram because it includes a “risk premium,” which results from both international trade tensions and the U.S. dollar’s drop to four-year low values.
The present market situation shows that gold ETFs and digital bullion have become the main investment choice for consumers who previously used retail jewelry to drive market changes.
Indian gold reserves have increased to approximately $117.5 billion, which shows that both institutional and retail investors now use precious metals to protect themselves from currency fluctuations and ongoing core inflation.
Industrial Momentum
Silver’s current market price of Rs 335,000 per kilogram does not depend on jewelry needs but instead results from industrial growth in high-tech industries.
The metal achieves a “green premium” because it serves as an essential component for solar energy systems and electric vehicle parts and AI data center operations. The market experienced a technical correction after mid-week price peaks, but ongoing supply deficits, which have persisted for six years, create a stable price base.
Silver prices in Chennai display significant differences because local logistics and silver premiums determine market rates, and the metal serves as both a safe-haven investment and essential industrial material for India’s manufacturing needs.
City-Wise Gold & Silver Rates on January 31, 2026
| City | Gold (24K) per 10g | Gold (22K) per 10g | Silver per 1 kg |
| Delhi | Rs 169,340 | Rs 155,240 | Rs 3,94,900 |
| Mumbai | Rs 169,200 | Rs 155,100 | Rs 395,000 |
| Chennai | Rs 176,730 | Rs 1,62,000 | Rs 405,000 |
| Kolkata | Rs 169,200 | Rs 155,100 | Rs 395,000 |
| Bengaluru | Rs 169,200 | Rs 155,100 | Rs 3,95,000 |
| Hyderabad | Rs 169,200 | Rs 155,100 | Rs 405,000 |
| Pune | Rs 169,200 | Rs 155,100 | Rs 395,000 |
| Ahmedabad | Rs 169,240 | Rs 155,140 | Rs 395,000 |
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