Mumbai/New Delhi: If you are planning to visit the jeweller today, check your budget again. Gold prices across India have shown a volatile trend on Thursday, January 29, 2026. While the international market remains steady, local currency fluctuations have led to a marginal dip in Mumbai and Kolkata, making it a potential “buy” day for investors in those regions.
The “Wedding Season” Impact
With the wedding season (Sawa) dates approaching in early February (starting Feb 5), demand for physical gold is spiking.
- Trend: 24K Gold (99.9% purity) is trading above the ₹85,000 mark in most metros.
- 22K Gold: The standard for jewellery (22 Carat) is hovering around ₹78,400 per 10 grams.
- Silver: Silver prices remain stable at ₹98,000 per kg.
City-Wise Gold Rates (Jan 29, 2026)
Note: Prices quoted are for 10 grams and exclude GST/Making Charges.
| City | 22K Gold (Jewellery) | 24K Gold (Pure) | Trend |
| New Delhi | ₹78,550 | ₹85,650 | ➖ Stable |
| Mumbai | ₹78,400 | ₹85,500 | 🔻 Dip |
| Chennai | ₹78,900 | ₹86,100 | 🔺 High |
| Kolkata | ₹78,400 | ₹85,500 | 🔻 Dip |
| Bangalore | ₹78,450 | ₹85,550 | ➖ Stable |
| Hyderabad | ₹78,400 | ₹85,500 | 🔻 Dip |
| Ahmedabad | ₹78,450 | ₹85,550 | ➖ Stable |
Why This Matters To You
- Investors: The dip in Mumbai and Kolkata offers a small window for buying digital gold or coins.
- Buyers: Always ask for the Hallmark (HUID) code. Do not pay for 24K rates if you are buying 22K jewellery.
- Calculation: The final price you pay = (Gold Rate + Making Charges) + GST (3%). Remember: GST is calculated on the total value, including making charges.
Key Highlights Box
- 📉 Cheapest City: Mumbai/Kolkata (₹85,500 for 24K).
- 📈 Costliest City: Chennai (₹86,100 for 24K).
- ⚠️ Advice: Avoid making impulsive purchases without checking the live spot rate.
- 💡 Action: Check the HUID code on your jewellery bill.
Frequently Asked Questions (FAQs)
A: Gold prices vary due to local taxes (octroi), transportation costs, and the local bullion association’s daily fixing. Mumbai, being a major import hub, often has slightly lower rates due to lower logistics costs.
A: With prices showing a slight dip in major hubs and the wedding season demand likely to push rates higher in February, analysts suggest “accumulating on dips.”
A: 24K is 99.9% pure gold (used for coins/bars, too soft for jewellery). 22K is 91.6% gold mixed with other metals (copper/zinc) for durability, used for making ornaments.
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Disclaimer: Gold prices change multiple times a day based on market trends. The prices above are morning opening rates.
