New Delhi, India | January 28, 2026
Gold and silver prices surged to fresh record highs on Wednesday, driven by rising global geopolitical tensions, ongoing trade disputes, and a strong shift toward safe-haven investments. Both precious metals witnessed sharp gains in domestic as well as international markets, with silver continuing to outperform gold for another consecutive session.
Why Are Gold and Silver Prices Rising?
Market participants point to global uncertainty, including concerns over trade policies, geopolitical risks, and expectations around upcoming US Federal Reserve interest rate decisions, as key factors supporting bullion prices.
Manish Verma, owner of Shri Shyam Jeweller, said that uncertainty surrounding a tariff-related case in the US Supreme Court and speculation over future monetary policy moves have prompted investors to move funds into safer assets such as gold and silver.
Analysts told news agency PTI that prices of precious metals could remain firm in the near term if global risks persist.
🇮🇳 Latest Gold and Silver Prices in India
According to bullion market data, prices in India on Wednesday stood at:
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Gold: ₹1,58,460 per 10 grams
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Silver: ₹3,56,790 per kilogram
IBJA Rates (Previous Session)
As per the Indian Bullion and Jewellers Association (IBJA):
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99.9% purity gold: ₹1,59,027 per 10 grams
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99.5% purity gold: ₹1,58,390 per 10 grams
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Silver: ₹3,42,507 per kilogram
🏙️ Gold Prices in Major Indian Cities (24 Carat)
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Mumbai: ₹1,58,170 per 10 grams
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Kolkata: ₹1,57,960 per 10 grams
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Delhi: ₹1,57,900 per 10 grams
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Chennai: ₹1,58,630 per 10 grams
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Hyderabad: ₹1,58,420 per 10 grams
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Bengaluru: ₹1,58,300 per 10 grams
Bullion traders note that gold prices in southern Indian markets continue to remain slightly higher than in other regions.
🏙️ Silver Prices in Major Cities
Rising industrial demand, especially from AI data centers and the solar energy sector, along with tight supply conditions, has kept silver prices elevated.
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Mumbai: ₹3,56,140 per kg
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Delhi: ₹3,55,530 per kg
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Chennai: ₹3,57,180 per kg
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Hyderabad: ₹3,56,710 per kg
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Bengaluru: ₹3,56,430 per kg
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Kolkata: ₹3,55,670 per kg
🌍 International Market Update
In the global market, gold prices crossed $5,200 per ounce, supported by a weaker US dollar and sustained demand for safe-haven assets.
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Gold rose 0.4% on Wednesday
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Gained 3.4% in the previous session
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Up nearly 20% year-to-date
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Crossed the $5,000 per ounce level for the first time
Silver showed even stronger momentum:
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Over 50% rise year-to-date
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Prices climbed to $113.14 per ounce
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Registered a 1% gain on Wednesday
🔮 What Lies Ahead?
According to Manish Verma, continued economic uncertainty, interest rate expectations, and geopolitical tensions may keep gold and silver prices on an upward trajectory. If the US dollar remains weak and global risks intensify, precious metals could test new highs in the coming days, analysts suggest.
