If you were waiting for a “dip” to buy that wedding jewelry, you might have missed the window. As of Monday, January 12, 2026, gold in India is staging a massive comeback.
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The thing is, we’ve seen a ₹3,800 jump per 10 grams since just last Friday. Or nothing. Let’s be real, with the US military moving in on Venezuela and the Department of Justice pressuring the Federal Reserve, the “safe-haven” trade is back with a vengeance. Those too.
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The “Yellow Metal” Log: Field Notes
It’s an ongoing situation where global chaos is directly hitting your local jeweler’s price tag.
The Record Spike: 24K gold is now sitting at ₹14,215 per gram. That’s a gain of ₹169 in a single day. The thing is, about 70% of big institutional investors (the guys at Goldman Sachs and the like) are betting this rally isn’t even close to being done.
The Venezuela Factor: Last week, the capture of Maduro sent shockwaves through the oil and commodity markets. The thing is, whenever the US enters a “resource war,” gold goes up. And then there’s the talk of a US recession with unemployment hitting 4.4%—it’s the perfect storm for gold.
City Wars: Chennai is currently the most expensive city for gold at ₹14,313/gm for 24K. The thing is, the southern markets always lead the charge because of the sheer volume of physical buying there. Mumbai and Delhi are trailing slightly, but they are all pushing record highs.
The Silver Surge: Don’t even look at silver if you have a weak heart. It’s nearing ₹2.6 lakh per kg. The thing is, industrial demand is clashing with safe-haven buying, and the white metal is outperforming gold on a percentage basis.
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Gold Price Sheet: January 12, 2026
| Carat | Price per Gram (Today) | Change from Yesterday |
| 24K (Pure) | ₹14,215 | ⬆️ ₹169 |
| 22K (Jewelry) | ₹13,030 | ⬆️ ₹155 |
| 18K (Low Purity) | ₹10,661 | ⬆️ ₹127 |
Major City Check (24K Gold)
[Table: 24K Gold Rates by City]
| City | Price per Gram |
| Chennai | ₹14,313 |
| Delhi | ₹14,230 |
| Mumbai | ₹14,215 |
| Bangalore | ₹14,215 |
And Here’s the Kicker…
We are entering the Makar Sankranti and Pongal festival week. The thing is, demand usually spikes now anyway. But with Goldman Sachs predicting gold could hit $4,900 an ounce (that’s over ₹1.5 lakh per 10g locally) by mid-2026, people are panic-buying. And then there’s the US Supreme Court—they’re ruling on Trump’s tariff powers this Wednesday. If they back him, the dollar might wobble, and gold will likely smash through ₹15,000 before February.
It’s an ongoing situation where the “buy on dips” strategy is getting harder to execute because the “dips” are getting shallower.
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End…
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