It’s Saturday, January 24, 2026, and if you’re looking at your gold jewelry as a “retirement plan,” you’re not far off. We’re seeing prices that would have felt like a typo just two years ago. Gold is currently hovering near the ₹1.6 Lakh mark, and silver is playing in a whole different league around ₹3.4 Lakh per kg.
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The thing is, the market isn’t just “up”—it’s in a state of high-altitude turbulence. Or nothing.
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Gold & Silver Rates: The Ground Reality (Jan 24, 2026)
It’s an ongoing situation where record highs are the new normal. Here’s how the major cities are looking today:
| City | 24K Gold (per 10g) | 22K Gold (per 10g) | Silver (per kg) |
| Delhi | $₹1,57,310$ | $₹1,44,210$ | $₹3,35,000$ |
| Mumbai | $₹1,57,160$ | $₹1,44,060$ | $₹3,40,100$ |
| Chennai | $₹1,58,740$ | $₹1,45,510$ | $₹3,40,100$ |
| Kolkata | $₹1,57,160$ | $₹1,44,060$ | $₹3,40,100$ |
Why Is Everything So Expensive? Field Notes
Let’s be real—it’s a “perfect storm.” You’ve got a mix of global panic and smart-money moves happening all at once:
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The “Greenland” Factor: Earlier this week, things got messy when the US made noise about tariffs and territory (yes, Greenland). It sent everyone running to gold. But then, on Thursday, the tension eased slightly, leading to some profit-booking. That’s why today’s “slight increase” feels like a breather after a marathon. Those too.
The Silver Rocket: Silver has outperformed almost everything in 2026. It started the year at $₹2.38 Lakh$ and hit $₹3.4 Lakh$ in just three weeks. The thing is, industrial demand for solar panels and EVs is actually creating a physical shortage.
Budget 2026 Jitters: With the Union Budget just days away, there’s a quiet buzz about an import duty hike. People are buying now because they’re scared it’ll get even costlier in February. And here’s the kicker—if the duty goes up, these “all-time highs” might look like “all-time lows” by next week.
The Dollar & The Fed: The US Dollar is acting shaky, and the Fed is hinting at rate cuts. When paper money feels “soft,” people want the heavy stuff. Or nothing.
The “Expert” Side Comment
Motilal Oswal just dropped a note saying the Gold–Silver Ratio is finally shifting. After silver’s 200% rally, they think gold is actually the “safer” bet for the next few months. It’s an ongoing situation where silver might be “overextended.” Basically, don’t chase the white metal at these peaks unless you have a very long-term view.
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End…
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