Gold Prices Surge to All-Time High on January 29, 2026
The bullion market in India witnessed a significant rally on Thursday, January 29, 2026, as gold prices soared to record-breaking levels across all purity grades. This upward momentum reflects a broader trend of gold appreciating by nearly 20 percent throughout the month, solidifying its status as a premier hedge against inflation and a sought-after asset for investors.
National Gold Rates Per Gram on January 29
At the national level, the price of 24-karat gold, renowned for its high purity and investment appeal, settled at ₹17,885 per gram, marking a substantial increase of ₹1,177. The 22-karat variant, commonly used in jewellery craftsmanship, was quoted at ₹16,395 per gram, rising by ₹1,080. Meanwhile, 18-karat gold, also popular for ornamental purposes, reached ₹13,414 per gram, after gaining ₹883.
City-Wise Breakdown of Gold Prices Today
Gold rates exhibited slight variations across different metropolitan hubs due to local factors such as demand, taxes, and making charges. Below is a detailed overview of the prevailing prices in key Indian cities:
- Chennai: 24K at ₹18,328, 22K at ₹16,800, 18K at ₹13,900
- Mumbai: 24K at ₹17,885, 22K at ₹16,395, 18K at ₹13,414
- Delhi: 24K at ₹17,900, 22K at ₹16,410, 18K at ₹13,429
- Kolkata: 24K at ₹17,885, 22K at ₹16,395, 18K at ₹13,414
- Bangalore: 24K at ₹17,885, 22K at ₹16,395, 18K at ₹13,414
- Hyderabad: 24K at ₹17,885, 22K at ₹16,395, 18K at ₹13,414
Other major cities including Pune, Ahmedabad, Jaipur, Lucknow, Patna, Chandigarh, Surat, Bhubaneswar, Gurgaon, Ghaziabad, and Noida reported rates closely aligned with the national averages, with minor fluctuations. For instance, Ahmedabad and Patna listed 24K gold at ₹17,890, while Jaipur and Lucknow pegged it at ₹17,900.
Understanding the Gold Market Dynamics
The relentless ascent in gold prices underscores its enduring appeal as a safe-haven asset during economic uncertainties. Investors are increasingly turning to gold to protect their portfolios from inflationary pressures, driving demand higher. The distinction between karats remains crucial: 24K gold is predominantly favored for bullion and investment products due to its near-perfect purity, whereas 22K and 18K gold are integral to the jewellery industry, offering a balance of durability and aesthetic value.
As of January 29, the market sentiment remains bullish, with analysts anticipating continued interest in gold amid global economic fluctuations. Consumers and investors are advised to stay informed about daily rate changes to make prudent purchasing decisions.
