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Gold and silver hit record highs in India and COMEX on January 28, driven by geopolitical uncertainty and Central banks.
Gold and silver prices rise on MCX on Wednesday
Gold and Silver Rates Today, January 28: Gold and silver prices in India climbed to fresh highs on Wednesday, continuing their unprecedented rally over a cluster of issues, including geopolitical uncertainty, stacking of gold by Central banks, and economic volatility.
On Multi-Commodity Exchange (MCX), gold futures with expiry in February traded 1.96 per cent higher at Rs 1,60,789 per 10 grams. Meanwhile, silver futures with expiry in March jumped 5.62 per cent to Rs 3,76,300 per kg.
At the COMEX, gold and silver jumped over 8 per cent to touch a new record. Gold surged over 2 per cent to $5,227.50 per ounce. Meanwhile, silver surged 8.52 per cent to $114.99 per ounce.
In Mumbai, 24K gold price stood at Rs 1,65,170 per 10 grams, while for 22K, the price remained at Rs 1,51,400 per 10 grams.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On January 28?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,51,550 | Rs 1,65,320 |
| Jaipur | Rs 1,51,550 | Rs 1,65,320 |
| Ahmedabad | Rs 1,51,450 | Rs 1,65,220 |
| Pune | Rs 1,51,450 | Rs 1,65,220 |
| Mumbai | Rs 1,51,400 | Rs 1,65,170 |
| Hyderabad | Rs 1,51,400 | Rs 1,65,170 |
| Chennai | Rs 1,51,400 | Rs 1,65,170 |
| Bengaluru | Rs 1,51,400 | Rs 1,65,170 |
| Kolkata | Rs 1,51,400 | Rs 1,65,170 |
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
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January 28, 2026, 09:37 IST
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