On January 31, 2026, gold and silver prices in India were kept as per the trends in the world market and local demand. The precious metals which are very culturally and economically important in the nation are bought in large numbers during festivals, weddings and investment purposes.
Gold prices underwent slight upward movements on the last day of the month because international demand was firm, and the pressures of inflation were still strong.
Currently, the 24 karat gold, also known as pure gold, sells at a price of Rs 16,919 per gram in the major Indian markets. The 22 karat type that consists of 91.67 percent gold (commonly used in jewellery) is priced at Rs 15,590 per gram.
The rates indicate marginal gains in the course of the recent sessions and indicate the ongoing consumer interest and stable global standards.
Taxes, local demand, and purity issue lead to a slight variation in the price of gold in various cities. In the national capital Delhi, 24 karat gold weighs against 16,934 per gram whereas 22 karat gold weighs against 15,524 per gram.
The 24 karat gold price is Rs 16,919 per gram and 22 karat is Rs 15,509in Mumbai, the commercial capital. Prices of gold in Kolkata are similar to those in Mumbai, with 24 karat gold costing Rs 16,919 per gram and 22 karat gold costing Rs 15,509 per gram.
Chennai however registered low figures with gold 24 karat being Rs 17,290 per gram and 22 karat gold costing Rs 15,849 per gram. These fluctuations usually indicate the varying local taxes and jeweller fees.
Analysts observe that the global signals that drive the price of gold in India include the international gold price, the fluctuations in the US dollar exchange rate, as well as the shifts in the demand of the major markets.
Pricing is also influenced by domestic demand before festivals and wedding seasons. As the international markets continue to exhibit the demand to safe haven assets, the local consumers can expect to experience further volatility of the gold prices.
Silver also continued to be a draw in investment and jewellery on January 31, 2026. Silver is selling at approximately Rs 3,35,000 per kilogram in India. Silver 925 or silver sterling is a typical form and its price is about 3,34,900 per kilogram.
In large city markets, silver is sold in grams of 10 per pound to retail customers. The Silver 999 (high purity silver) in Delhi, Mumbai and Kolkata is priced at 3,949 per 10 grams. Chennai was slightly above with Silver 999 at a price of Rs 4,049 per 10 grams. Such city wise variations are conditioned by local taxes and handling charges which differ in accordance with region.
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There is a high level of global industrial demand that drives the prices of silver, besides the investment demand. The metal finds application in numerous industries such as electronics, solar power, auto and medical appliances and changes in these industries may affect the price.
Buyers are advised by market watchers to monitor market indicators such as currency exchange rates and global metal prices as they make buying choices. Gold and silver remain valuable stores of value to the consumers and investors in India. At the end of the month prices are still receptive to the world economic signals and the domestic market forces.
