Gold Rate Today Jan 22: Prices Drop as Trump Withdraws Greenland Tariff Threats; 24K Gold at ₹15,431

It’s Thursday, January 22, 2026, and if you were waiting for a dip in the gold market, you finally got a “correction.” After a wild ride where prices were smashing records almost every hour, the fever broke this morning. The thing is, gold is down by about ₹229 per gram for 24K.¹ Or nothing.

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The reason? It’s all about the “Greenland Framework.” Trump basically backed off his threats to slap tariffs on Europe, and suddenly, the “safe-haven” panic that was driving gold toward the moon just… evaporated.² Let’s be real—it’s a breather, not a crash.

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The Gold Desk: Field Notes

It’s an ongoing situation where the global stage is moving faster than the ticker tape. Here’s the ground reality for today’s rates:

• The Trump Factor: Yesterday, gold hit a crazy peak of 4,888 an ounce globally.³ Why? Because the U.S. was threatening a 10% tariff on Denmark/EU over Greenland.⁴ But this morning, a “peace framework” was announced at Davos.⁵ The thing is, as soon as the threat of a trade war with NATO softened, investors dumped gold and moved back into stocks.⁶

• The Domestic Reality: In India, we’re still looking at massive numbers. 24K gold is sitting at ₹15,431 per gram.⁷ Even with today’s drop, we’re up over 11% since New Year’s Day. And here’s the kicker—silver is still acting like a rocket, hovering near ₹3.2 lakh per kg.⁸ Those too.

• The “Premium” Problem: Even though global prices fell, Indian gold is still trading at a premium. Why? Because the Rupee is at 90.97 against the Dollar. A weak Rupee makes imported gold more expensive for us, even if the world price drops.⁹ Or nothing.

• City Splits: Chennai is leading the pack as the most expensive city today at ₹15,491 for 24K.¹⁰ The thing is, the “South Indian wedding season” demand is keeping prices sticky there, even while Mumbai and Delhi see faster cooling.

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Gold Rate Card: January 22, 2026

City-Wise 24K Gold (10 Grams)

And Here’s the Kicker…

The thing is, Goldman Sachs just updated their end-of-year forecast to 5,400 an ounce.²⁰ Let’s be real—they think this “Greenland dip” is just a blip and that the long-term trend is still up, up, and away. Or nothing.

One side comment—if you’re looking to sell, most local jewelers are still being cautious with their buy-back rates because the market is so “jittery.” It’s an ongoing situation where wait-and-watch is the only real strategy. Those too.

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End…

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