Gold maintains its status as a major investment focus, which attracts attention from both investors and consumers, and financial analysts in India because of its price fluctuations that approach multi-year peak levels. The Today Gold Rate in India on January 29, 2026, showed mixed movements across different sources because some outlets reported minor price drops while others documented major market increases in both international and domestic markets.
Understanding these price changes matters not only for those planning a physical purchase (jewellery or coins) but also for investors using gold as a hedge and businesses in the gems and jewellery sector and financial planners who advise clients on asset allocation.
The document provides complete information about gold prices in India on January 29, 2026, together with their movements and regional differences, and their effects on both buyers and investors.
Gold Price in India on January 29, 2026: Core Rates
According to recent market updates, gold prices initially experienced downward pressure early in the day, followed by broader upward momentum, as reflected in exchange and MCX data.
Gold Rate Comparison: Last 8 Days (per 10 grams)
| Date | 24K (₹) | 22K (₹) | 18K (₹) |
| Jan 29, 2026 | 1,73,240 | 1,64,990 | 1,50,000 |
| Jan 28, 2026 | 1,61,940 | 1,48,450 | 1,21,450 |
| Jan 27, 2026 | 1,58,706 | 1,45,481 | 1,19,029 |
| Jan 26, 2026 | 1,58,600 | 1,45,380 | 1,18,970 |
| Jan 25, 2026 | 1,58,100 | 1,44,950 | 1,18,650 |
| Jan 24, 2026 | 1,58,620 | 1,45,400 | 1,18,970 |
| Jan 23, 2026 | 1,57,150 | 1,44,050 | 1,17,860 |
| Jan 22, 2026 | 1,54,310 | 1,41,450 | 1,15,730 |
National Average Indicative Rates (Per Gram)
| Gold Purity | Price (₹/gram) | Indicative Per 10 g |
| 24-carat | ₹17,324 | ₹1,73,240 |
| 22-carat | ₹16,499 | ₹1,64,990 |
| 18-carat | ₹12,140 | ₹1,50,000 |
| Data from Free Job Alert’s gold rate overview across cities with slight downward trends on January 29. |
These centrally reported figures suggest a modest decline versus recent sessions, possibly due to currency fluctuations or profit booking at intraday levels.
Gold Prices — 29 January 2026 (₹ per 10 g)
Gold prices can vary by city due to differential taxes (VAT/TCS), freight, jeweller margins, and local demand. On January 29, 2026:
| City | 24K Gold | 22K Gold |
|---|---|---|
| Mumbai | ₹1,79,550 | ₹1,64,588 |
| Delhi | ₹1,79,240 | ₹1,64,303 |
| Chennai | ₹1,80,070 | ₹1,65,064 |
| Kolkata | ₹1,80,040 | ₹1,65,037 |
| Bangalore | ₹1,79,690 | ₹1,64,716 |
| Hyderabad | ₹1,79,830 | ₹1,64,844 |
| Ahmedabad | ₹1,80,520 | ₹1,65,477 |
This close clustering across metros reflects a stabilized national pricing structure, where major trade hubs show very similar base rates before local charges.
Alternative Market Data: MCX & Spot Trends
Broader market indicators from commodity exchanges and financial news outlets point to continued strength in gold prices, underpinned by global cues:
- On the Multi-Commodity Exchange (MCX), gold prices showed gains, with 24-carat rates near ₹1,73,240–₹1,62,200 per 10 g depending on the session snapshot.
- These values are broadly higher than many local retail price reports, which is typical given the lag between futures markets and physical retail pricing, inclusive of taxes and charges.
This divergence illustrates how futures pricing and spot rates can reflect separate forces — futures are driven more by global bullion trends and currency markets, while retail rates adjust for duty, GST, and merchant margins.
Key Drivers of Gold Prices in 2026
Gold prices in India do not move in isolation; they are shaped by interconnected global and domestic forces:
1. Global Bullion Trends
Gold prices respond to three main factors, which include geopolitical tensions, inflation expectations, and central bank monetary policies. The current bullion market strength, which includes the highest gold prices ever recorded in Dubai, demonstrates that investors continue to seek safe-haven assets.
2. US Federal Reserve Policies
Prospects of interest rate changes in the US directly influence gold’s appeal. Lower real interest rates reduce the opportunity cost of holding non-yielding assets like gold, thereby lifting prices.
3. Exchange Rate Movements
A weaker Indian rupee against the US dollar typically makes imported gold more expensive for Indian buyers, pushing base rates upward.
4. Domestic Demand Patterns
Cultural and seasonal demand cycles, which include weddings and festivals, and investment flows create an impact on both physical market pricing and jeweller inventory management decisions.
Historical Perspective on Gold in India
Over recent years, gold prices in India have seen dramatic increases:
- In early 2023, 10 g of gold was often priced around ₹60,000–₹70,000.
- By 2024–25, the same benchmark climbed significantly, crossing ₹90,000 per 10 g as inflation, currency pressure, and global risk aversion rose.
- By early 2026, anecdotal reports indicate some buyers observing prices near ₹1.7 lakh per 10 g in local markets — driven by strong demand and ongoing macroeconomic risks.
This long-term trend highlights why gold remains a core component in Indian investment strategies, particularly for risk mitigation.
How Gold Pricing Is Calculated in India
Understanding how the gold price is determined can help buyers and investors interpret daily movements:
- International Spot Price (XAU/USD)
The base global price of gold is quoted per ounce in US dollars. - Conversion to INR and Per Gram
Converted using the prevailing USD/INR foreign exchange rate and then divided into grams. - Import Duty and GST
India imposes import duty on gold, which feeds into the base price — currently a significant component. - Local Costs and Margins
Transportation, interest costs, insurance, storage risk, and jeweller margins further elevate retail prices.
Collectively, this means physical gold can trade at a premium to simple international spot conversions — often by 20-30 % or more.
Implications for Different Stakeholders
Gold price trends have varying consequences depending on your role and financial interest:
Retail Buyers (Jewellery Purchases)
Rapid price increases can significantly raise the cost of weddings, gifting, and personal use. Buyers often regret purchases made near highs, especially when prices rise beyond short-term expectations.
Investors & Safe-Haven Seekers
Gold remains a classic hedge against inflation and market uncertainty. Strong demand in 2026 continues to reflect investor risk aversion, with bullion and gold ETFs showing inflows.
Financial Planners
Advisors increasingly recommend balanced portfolios that include gold — either through physical bullion, ETFs, or sovereign gold bonds — to diversify downside risk.
Jewellery Industry
High gold rates often moderate sales volume as consumers defer purchases, but they also inflate inventory costs for retailers. Some jewellers respond by pausing new purchases or adjusting designs to manage price sensitivity.
FAQs: Gold Rate in India
Q1: What was the gold price in India on January 29, 2026?
The price of 24-carat gold was around ₹17,324 per gram, with 22-carat at ~₹16,499 and 18-carat near ₹12,140 per gram on January 29.
Q2: Why do gold prices differ across cities?
City-specific pricing reflects marginal differences in local taxes, freight, jeweller margins, and demand patterns.
Q3: How does gold pricing in India compare to Dubai?
Gold in India typically trades at a premium over Dubai due to import duties and taxes; on January 29, 24K gold in India was significantly higher than in Dubai.
Q4: Should I buy gold now or wait?
This depends on your investment horizon and purpose. Short-term price movements are difficult to time. For long-term safety and diversification, maintaining a consistent strategy is generally advised.
Q5: What drives gold price volatility?
Major drivers include global macroeconomic conditions, forex rates, US Federal Reserve policy, inflation expectations, and geopolitical uncertainty.
Disclaimer
The gold market in India showed two different trends on January 29, 2026, which showed slight price drops during the day but maintained overall strength because of worldwide demand and economic uncertainty.
The present market situation proves that gold functions as both a precious metal and a financial asset, which benefits buyers, investors, and financial planners. Historical pricing trends show that current prices remain high because of international market developments, currency fluctuations, and domestic market conditions.
People who want to protect their wealth, diversify their investment portfolio, or buy gold for personal use need to learn about current gold rate factors because it helps them navigate the fast-changing market.
