Gold Price Today Jan 2, 2026: 24K Gold Hits ₹1,36,200 as Silver Surges by ₹4,000

Gold is behaving like a magnet for nervous money as we kick off 2026. As of Friday, January 2, 2026, the “yellow metal” has rebounded sharply from a brief year-end dip, with prices in India climbing by over ₹1,100 per 10 grams in a single day.¹

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The thing is, we’re coming off a historic 2025 where gold jumped 64%—its best run since the late 70s.² Or nothing. Let’s be real, with the US dollar weakening and new Trump administration tariffs looming, investors are piling back in. Those too.

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The Gold Ticker: Field Notes

Across India, the “purest” 24K gold is now comfortably sitting above the ₹1.35 lakh mark per 10 grams.

City-Wise Snapshots (Per Gram – 24K)

And here’s the kicker: location matters. Chennai remains the most expensive hub, largely due to higher local demand and transport costs, with 24K gold retailing at ₹13,724.⁴

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• Mumbai & Kolkata: Steady at ₹13,620.⁵

• Delhi: Slightly higher at ₹13,635.

• Dubai vs. India: It’s an ongoing situation where India remains nearly 21% more expensive than Dubai due to heavy import duties.

Silver’s “Melt-Up” Momentum

Silver is the real wild card right now. It outperformed gold in 2025 with a massive 147% gain, and today it’s up another ₹4,000 per kg.

• Current Rate: ₹2,42,000 per kg.

• The “China Factor”: New export restrictions from China kicked in yesterday, January 1. Since they control a huge chunk of the supply, the market is panicking about a shortage for EV batteries and solar panels.⁶

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Why the Surge?

It’s not just “wedding season” anymore.

• Safe Haven: Tensions between the US and Venezuela, plus the grinding war in Ukraine, are making “hard assets” look a lot safer than tech stocks.⁷

• The Fed: Markets are betting on at least two more US interest rate cuts in 2026.⁸ When rates go down, gold usually goes up because it doesn’t “yield” anything anyway.

Basically, the 2025 rally wasn’t a fluke. Analysts are already whispering about Gold hitting $5,000/oz (roughly ₹1.5 lakh+ per 10g) before the year is out.⁹ If you’re looking to buy jewelry for a summer wedding, today’s “jump” might actually be the cheapest price you’ll see all month.

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