Mumbai: Investors and jewellery buyers saw no respite from high prices on Tuesday. On January 20, 2026, the price of 24-carat gold (99.9% purity) edged up to ₹1,46,250 per 10 grams in Mumbai, while the industrial demand for silver kept it firmly in the “super-premium” zone of ₹3 Lakh+.
1. City-Wise Gold Rates (Per 10 Grams)
Prices are indicative and exclude GST/TCS.
| City | 22 Carat (Standard) | 24 Carat (Pure) |
| Mumbai | ₹1,34,060 | ₹146,250 |
| Delhi | ₹1,34,210 | ₹146,400 |
| Chennai | ₹1,34,510 | ₹146,740 |
| Kolkata | ₹1,34,060 | ₹146,250 |
| Bengaluru | ₹1,34,060 | ₹146,250 |
| Hyderabad | ₹1,34,060 | ₹146,250 |
| Ahmedabad | ₹1,34,110 | ₹146,300 |
| Pune | ₹1,34,060 | ₹146,250 |
Market Note: Chennai continues to see slightly higher rates due to local bullion market dynamics and closing charges.
2. Silver Rates Today (Per 1 Kg)
Silver remains the “dark horse” of the bullion market for 2026, driven by massive industrial demand from the EV and solar sectors.
| City | Silver Price (₹/Kg) |
| Mumbai | ₹3,05,100 |
| Delhi | ₹3,05,100 |
| Chennai | ₹3,18,100 |
| Bengaluru | ₹3,05,100 |
| Kolkata | ₹3,05,100 |
3. Why Are Prices Rising?
- New US-EU Tariff Threats: Global sentiment shifted sharply after the US administration announced a 10% tariff on eight European nations (including France, Germany, and the UK) effective February 1. This renewed trade uncertainty has pushed global funds into “safe-haven” assets like gold.
- Greenland Dispute: The tariffs are linked to the escalating diplomatic row over the “Greenland purchase” bid, adding a layer of geopolitical unpredictability that markets despise.
- Weak Dollar: A softening US Dollar Index (DXY) makes gold cheaper for other currency holders, increasing global demand.
- Industrial Demand: Silver’s rally is largely structural, fueled by a shortage of physical metal needed for green energy technologies (Solar panels/Batteries).
Frequently Asked Questions (FAQ)
A: 24K is 99.9% pure gold, mostly used for investment (bars/coins). 22K contains 91.6% gold mixed with other metals (copper/zinc) to make it durable for jewellery.
A: No. The rates listed above are the base market prices. You must add 3% GST and making charges (usually 8% to 20%) to calculate the final price at a jewellery store.
A: Analysts remain bullish on silver for 2026 due to the “industrial super-cycle,” expecting it to potentially test the ₹3.25 Lakh mark later this year.
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AUTHORSHIP & TRANSPARENCY
- Reported by: Kitto Business Desk | Source: GoodReturns / Mid-Day Market Data (Jan 20, 2026).
- Disclaimer: Gold prices are subject to market fluctuations. Readers are advised to verify rates with their local jeweller before purchasing.
- Accountability: Found a discrepancy? Email business@kittonews.com.
