Gold Rate Today Jan 10: 24K Gold Hits ₹1,39,320 as US Jobs Data Miss Sparks Rally

Gold is having a bit of a moment this weekend, and it’s not just because of the wedding season. As of Saturday, January 10, 2026, prices in Mumbai have hit ₹1,39,320 for 10 grams of 24K gold.

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The thing is, we’re teetering on the edge of a new record high. Or nothing. Let’s be real, while the domestic demand is actually “thin” according to jewelers, the global madness is doing all the heavy lifting. Those too.

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The “Gold Fever” Log: Field Notes

It’s an ongoing situation where the price of a necklace is now basically a reflection of U.S. labor reports and Iranian internet blackouts.

• The Record Chaser: We’re just a few thousand rupees away from the all-time high of ₹1,40,465.

• The “Weak” Jobs Factor: Last night’s U.S. jobs data (NFP) was a total miss—only 50,000 jobs added against a 66,000 forecast.¹ The thing is, when the U.S. economy looks shaky, investors run to gold like it’s a life raft. And then you have the Fed rate cut bets ramping up for March, which makes non-yielding gold look even better.²

• The Iran Spike: There’s massive unrest in Iran right now—internet’s down, communications are severed, and rumors are flying.³ Geopolitical chaos is pure fuel for gold prices.⁴

• The Rupee Slide: The Rupee is hovering near 90.00 against the dollar.⁵ Since India imports almost all its gold, a weaker Rupee automatically makes that gold more expensive for us. It’s a double whammy.

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Gold Rates Across India (Jan 10, 2026)

[Table: City-wise Gold Prices per 10g]

And Here’s the Kicker…

Silver is acting even crazier. It’s trading near ₹2,48,900 per kg. The thing is, some analysts are predicting silver could hit the ₹3 lakh mark by the end of the year because of the supply shortage in green tech.

It’s an ongoing situation where retail buyers are staying away, but central banks (especially China’s) are still buying gold like there’s no tomorrow.⁶ If the U.S. inflation data (CPI) next week comes in hot, we might actually see gold pull back a bit. But for now? The bulls are in total control.

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End…

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