Gold, Silver Prices in India End Lower on 30 Jan 2026 as Profit Booking and ETF Sell-Off Hit Precious Metals

As domestic markets closed on 30 January 2026, both gold and silver prices in India retreated from recent peaks, with silver showing notably higher volatility. After sustaining multi-day rallies that pushed bullion to record levels, profit-booking and broader risk-off sentiment saw both metals weaken by the end of trading. International cues, currency movements and position unwinding on exchanges influenced the downward drift in prices.

Gold and Silver Market Close Prices (Retail / City Wise – Approximate)

Prices are approximate retail closing rates; local premiums and jeweller markups may cause minor variation. Data compiled from exchange and city-wise sources.

Intraday Movement & Price Direction

Gold and silver opened below recent peaks on Friday and remained under pressure throughout the session. Gold, which had traded near record ₹1.83 lakh per 10 grams earlier in the week, eased back as dealers and investors booked profits and converted positions. Silver, having been one of the strongest performers in January, exhibited greater intraday swings and a more pronounced correction, echoing broader sell-offs in commodity and risk markets.

• Gold softened over the session, reflecting a mix of profit-taking and weak risk sentiment.
• Silver bore the brunt of the sell-off, with larger percentage declines from record levels earlier in the week.
• Both metals remained sensitive to currency and global bullion price shifts.

Gold Price Analysis

Gold’s price behaviour on 30 January was defined by profit-booking and a pullback from recent highs. While earlier in the week gold had surged on safe-haven demand and geopolitical uncertainty, the Friday session saw that upside momentum ease as traders realised gains. The rupee’s modest stabilisation against the US dollar trimmed some support for dollar-priced bullion, reducing imported cost pressures.

Globally, bullion markets experienced heightened volatility, and the retreat in gold futures exerted downward pressure on domestic rates. Despite the correction, gold continues to trade above historically elevated levels, indicating a still-firm underlying interest in safe-haven assets, albeit with reduced intraday conviction.

Silver Price Analysis

Silver’s intraday performance diverged from gold in both magnitude and direction. After the recent strength that brought silver above ₹4 lakh per kilogram in some cities earlier in the week, Friday’s session showed a noticeable decline as speculative positions unwound and risk assets broadly weakened.

Industrial demand factors that buoyed silver earlier in January, including use in electronics and renewable energy sectors, offered limited support against the short-term technical correction. Silver’s higher beta nature compared with gold meant sharper swings, and the intraday drop highlighted greater sensitivity to market positioning and sentiment flows.

Key Factors Driving Prices Today

• Safe-haven repositioning: Ongoing geopolitical concerns and global uncertainty maintained support for bullion even as short-term profit-taking unfolded.
• Industrial demand tightening (silver): Structural deficits in silver supply due to heightened industrial usage (solar, EVs) continue to underpin silver’s volatility and relative strength.
• Shift in domestic consumption patterns: Weak jewellery demand, contrasted with robust coin/bar and financial demand, shows changing Indian consumption trends.
• Currency and premium effects: INR movement and elevated domestic premiums influenced the local closing prices, differentiating them from headline global rates.
• ETF and reserve accumulation: Record ETF holdings and central bank reserve additions have tightened supply in the bullion complex, adding an extra layer of structural support.

Gold–Silver Ratio & Relative Strength

At the market close on 30 January 2026, the gold-silver ratio remained near 45-50:1, a historically low range that reflects silver’s strong relative outperformance during January’s rally. This compares with a long-term average of 60-70:1, highlighting the scale of silver’s recent surge.

However, Friday’s sharper correction in silver widened the ratio slightly intraday, as profit-booking hit silver harder than gold. This shift indicates short-term rebalancing, with gold retaining stronger defensive demand while silver absorbed higher volatility at elevated price levels.

What Today’s Close Signals for the Market

The downtick in precious metals at today’s close suggests a phase of consolidation rather than a fresh breakout. After sharp rallies earlier in the week, price action reflected moderation in bullish intensity. Volatility remains elevated, particularly in silver, signalling that market participants are recalibrating positions amidst mixed macroeconomic data and subdued risk appetite.

Verdict for Investors

Today’s close underscores that while underlying interest in bullion as a hedge persists, short-term momentum has eased following rapid gains. Traders and analysts should interpret the retreat as part of a normal consolidation process rather than a definitive trend reversal. Price action now hinges on how global economic indicators, currency markets and supply-demand dynamics in the industrial metals complex evolve in the near term.

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.

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