Gold Rate Today: Gold prices took a sharp fall across India today after reaching an all-time high yesterday. The precious metal, which touched nearly ₹1.8 lakh per 10 grams on January 29, saw heavy selling as investors booked profits.
On the Multi Commodity Exchange (MCX), gold futures dropped about 6.5% to trade around ₹1,59,984 per 10 grams. Internationally, gold retreated from its peak of $5,500 per ounce due to a stronger US Dollar and profit-taking.
Gold Rate Today in Major Cities
Chennai leads with 24K gold at ₹1,76,730 per 10 grams, while Delhi, Mumbai, Kolkata, and Bengaluru saw rates around ₹1,70,620. For 22K gold, Chennai quoted ₹1,62,000, with other metros at approximately ₹1,56,400.
These variations reflect local taxes and jewelry association charges in different cities.
What’s Next?
Despite today’s correction, gold has shown strong gains throughout January. Market experts suggest the ₹1,60,000 level may provide support on the MCX, though volatility is expected to continue.
If you’re planning to buy gold, this dip might offer a good opportunity after the recent rally.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Gold prices are subject to market fluctuations and may vary by location and jeweler. Please consult with a certified financial advisor before making any investment decisions. Always verify current rates with authorized dealers before purchasing.
Yogesh Kolhe is a business and market news writer covering the share market, company earnings, and gold and silver price movements, with a strong focus on the automobile sector. A Mechanical Engineering graduate with 5 years of share market experience, he provides data-driven, reliable insights into market and industry trends.
