Gold prices experienced a significant surge in the international bullion market on 26 January 2026, reflecting heightened investor interest in the precious metal. According to data from the Multi Commodity Exchange of India (MCX), the yellow metal closed down marginally by 0.05% at ₹1,55,963 per 10 grams on Friday, 24 January. It is important to note that commodity markets remained closed on Monday, 26 January, in observance of Republic Day 2026, with trading set to resume tomorrow.
Global Factors Influencing Gold Prices
Several key international developments are poised to impact gold and precious metal prices when markets reopen. United States President Donald Trump has issued threats to impose 100% tariffs on China, potentially disrupting trade deals, alongside 200% tariffs on French wines and champagnes aimed at pressuring French President Emmanuel Macron into his proposed Board of Peace initiative. Additionally, ongoing efforts to annex Greenland, a territory of Denmark, have added to global geopolitical uncertainties, fueling demand for safe-haven assets like gold.
International Gold Performance
Spot gold prices rose sharply by 1.98% to $5,081.18 per ounce by 0323 GMT, after reaching an earlier peak of $5,092.71. US gold futures for February delivery also saw gains, increasing by 2.01% to $5,079.30 per ounce. This upward trend underscores gold's resilience as a hedge against market volatility and economic instability.
Historical Context and Market Trends
Gold prices recorded their most impressive bull run since 1979 last year, surging over 75%. In 2026, the yellow metal has already rallied 17% on a month-to-date basis, highlighting its role as a reliable gauge of fear in financial markets. Over the past two decades, gold prices have skyrocketed by an astonishing 1,500%, demonstrating its long-term value as an investment.
Gold Rates Across Major Indian Cities
Gold prices in major Indian cities reached near all-time highs on 26 January 2026, aligning with national and global trends. Below is a detailed breakdown of gold rates per 10 grams across various cities:
Gold Rate in Mumbai
The financial capital reported strong prices, with 24-karat gold at ₹1,56,440, 22-karat gold at ₹1,43,403, and 18-karat gold at ₹1,17,330.
Gold Rate in Kolkata
Kolkata followed the upward trend, with 24-karat gold priced at ₹1,56,230, 22-karat gold at ₹1,43,211, and 18-karat gold at ₹1,17,173.
Gold Rate in Hyderabad
Hyderabad's gold rates mirrored national patterns, with 24-karat gold at ₹1,56,690, 22-karat gold at ₹1,43,633, and 18-karat gold at ₹1,17,518.
Gold Rate in Delhi
The national capital saw 24-karat gold at ₹1,56,170, 22-karat gold at ₹1,43,156, and 18-karat gold at ₹1,17,128.
Gold Rate in Chennai
Chennai reported some of the highest rates, with 24-karat gold at ₹1,56,890, 22-karat gold at ₹1,43,816, and 18-karat gold at ₹1,17,668.
Gold Rate in Bangalore
Bengaluru's gold prices stood at ₹1,56,560 for 24-karat, ₹1,43,513 for 22-karat, and ₹1,17,420 for 18-karat gold.
Gold Rate in Ahmedabad
Ahmedabad aligned with the overall trend, with 24-karat gold at ₹1,56,650, 22-karat gold at ₹1,43,596, and 18-karat gold at ₹1,17,488.
These city-specific rates illustrate the widespread impact of global factors on domestic gold markets, with prices remaining robust across India.
Investment Considerations and Disclaimer
This analysis is intended for educational purposes only. The views and recommendations presented are those of individual analysts or broking companies and do not reflect the opinions of Mint. Investors are strongly advised to consult with certified financial experts before making any investment decisions related to gold or other commodities.
