Gold and Silver Prices in India Close Higher on 29 January 2026: Silver Crosses ₹4 Lakh/kg While Gold Holds Firm at Market Close
By the end of trading on 29 January 2026, gold maintained firm levels near recent peaks, while silver surged past ₹4 lakh per kilogram across major Indian cities. Market movements reflected global bullion trends, a softer dollar, and the rupee’s intraday weakness.
By close of trade on Thursday, 29 January 2026, both gold and silver prices in India finished the day at elevated levels, extending a rally that has persisted through January. Bullion closed with renewed strength across major centres after consistent gains driven by global and currency cues. Silver maintained its historic break above the ₹4 lakh per kilogram level on MCX and in retail markets, while gold remained firm near its recent peaks.
Gold and Silver Market Close Prices (Retail / Indicative)
| City | 24K Gold (₹/10 g) | 22K Gold (₹/10 g) | Silver (₹/kg) |
|---|---|---|---|
| Delhi | 180,100 | 165,092 | 405,000–410,000 |
| Mumbai | 180,410 | 165,376 | 404,690–410,000 |
| Chennai | 180,930 | 165,853 | 405,870–410,000 |
| Bengaluru | 180,550 | 165,504 | 405,010–410,000 |
| Hyderabad | 180,690 | 165,633 | 405,330–410,000 |
| Kolkata | 180,170 | 165,156 | 404,160–410,000 |
Retail closing rates may vary slightly by local dealer and include making charges.
Intraday Movement & Price Direction
Domestic bullion opened the session on a firm footing and closed with sustained strength. Gold saw incremental gains throughout the day, reflecting continued appetite in both futures and physical markets. Silver, having crossed the ₹4 lakh per kg threshold earlier in the session, traded with heightened volatility but maintained levels above that historic mark into the close.
Profit-booking and short-term consolidation were visible intraday, particularly in silver, which swung sharply during the session. However, overall direction remained upward for both metals, underpinned by global cues and currency pressures.
Gold Price Analysis
Gold’s performance on 29 January reinforced its safe-haven role amid geopolitical uncertainties and a softer US dollar environment. International benchmarks climbed, lending support to domestic prices, which were elevated throughout the session. The Indian rupee’s relative weakness against the dollar amplified local price gains, making gold more expensive in rupee terms.
24‑carat bullion maintained levels near recent all‑time highs, signalling robust demand in both futures and physical markets. Intra‑day moves suggested that while immediate momentum softened marginally, structural demand drivers, including geopolitical tension and expectations around global monetary conditions, continued to underpin prices.
Silver Price Analysis
Silver’s trajectory differed from gold in its degree of volatility and recent price expansion. On 29 January, silver rates escalated, breaching the ₹4 lakh per kilogram mark across major Indian cities and MCX benchmarks, a level not seen before in domestic markets.
The white metal’s price action reflected not only safe‑haven flows but also industrial demand factors, given its use in electronics, solar and renewable energy sectors. Intraday swings were sharper than gold’s, consistent with silver’s historically higher beta in commodity markets. Despite profit-taking at elevated levels, silver remained range‑bound above key support zones into the close.
Key Factors Driving Prices on 29th January 2026
- Global bullion trends: International gold and silver prices remained elevated, supporting domestic rates.
- Currency impact: A depreciated INR vs USD amplified gains in the rupee‑priced bullion markets.
- Risk sentiment and geopolitical tension: Safe‑haven buying persisted amid global uncertainties.
What Today’s Close Signals for the Market
Today’s close suggests continued structural strength in precious metals with periodic intraday volatility. Gold’s consolidation near highs indicates resilience rather than sharp reversals, while silver’s sustained above key historical levels points to broader participation, including industrial demand and speculative interest. Volatility remains elevated, particularly for silver, but overall direction stayed bullish into the session end.
Verdict for Investors
Gold exhibited relative stability, acting as a hedge against macroeconomic and geopolitical uncertainties. Silver displayed higher volatility and sharper price action, characteristic of its dual role as both a precious and an industrial metal.
Prices remain sensitive to global market developments and currency fluctuations, with bullion markets continuing to reflect external cues more than domestic seasonal trends.
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