Gold, Silver Prices Fall Today: Check 24K And 22K Gold Rates In Your City On January 31
On Friday, January 31, 2025, gold prices experienced an increase, reaching a fresh all-time high due to weak US data and Donald Trump's tariff threats, which increased safe-haven demand.
Gold Prices
In India, gold prices increased by over ₹1,000 across major metro cities. The spot gold price in the international market saw a 0.06% increase, nearing $2,800 per ounce as of 1:34 PM. Spot gold increased by 0.08% to $2,796 an ounce in early Asian trade.
Here are the gold prices across major Indian cities on January 31, 2025:
- Chennai: 24 Carat Gold: ₹82,480 (per 10 grams), 22 Carat Gold: ₹75,607 (per 10 grams)
- Hyderabad: 24 Carat Gold: ₹82,370 (per 10 grams), 22 Carat Gold: ₹75,506 (per 10 grams)
- Delhi: 24 Carat Gold: ₹82,100 (per 10 grams), 22 Carat Gold: ₹75,258 (per 10 grams)
- Mumbai: 24 Carat Gold: ₹82,240 (per 10 grams), 22 Carat Gold: ₹75,387 (per 10 grams)
- Bangalore: 24 Carat Gold: ₹82,310 (per 10 grams), 22 Carat Gold: ₹75,451 (per 10 grams)
In Delhi markets, 24K gold prices advanced by ₹10 to ₹83,180 per 10 grams and 22K gold at ₹76,260 per 10 grams. The 24K gold price in Mumbai gained ₹10 to ₹83,030 per 10 grams and 22K gold to ₹76,110 per 10 grams.
Silver Prices
Silver prices in India have increased by over ₹900. Silver prices extended gains for the second day, rising by ₹100 to ₹98,600 per kg in major Indian cities on Friday. Spot silver was down 0.74% to $31.41 an ounce in early Asian trade. The spot silver price declined slightly by 0.10% to $31.51 per ounce as of 1:34 PM.
Factors Influencing Gold Prices
Several factors contributed to the rise in gold prices. Weak US economic data and renewed tariff threats from Donald Trump increased demand for gold as a safe-haven asset. Strong buying activity from jewelers and retailers, driven by the approaching marriage season, further bolstered gold prices in the domestic market. As a result, investors are shifting away from riskier assets like equities and turning to precious metals due to global economic uncertainties, contributing to the consistent increase in gold prices.
