Mumbai, January 20: The gold market in Mumbai witnessed a significant rally today, January 20, as the gold rate scaled fresh lifetime highs. Continuing a robust bullish trend seen throughout the start of the year, 24-karat gold rose to INR 1,48,370 per 10 grams, marking a daily increase of approximately INR 2,130 from the previous day. Similarly, 22-karat gold, widely used for jewellery, reached INR 1,36,000 per 10 grams. Market analysts attribute this surge to a combination of heightened geopolitical tensions and a weakening US dollar, which has driven investors toward safe-haven assets.

Gold Rate in Mumbai Today, January 20

Prices in the Mumbai retail market saw uniform gains across all purities today. Below are the current rates per 10 grams:

24-Karat Gold (Pure): INR 1,48,370 (Up from INR 1,46,240)

22-Karat Gold (Standard): INR 1,36,000 (Up from INR 1,34,050) Gold Rate Today, January 20, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Seven-Day Price Trend of Gold (Per 10 Grams)

The last week has been characterised by aggressive upward momentum, with the yellow metal gaining nearly 3.5% in just seven days.

Date  24K Gold (10g)  22K Gold (10g) 
Jan 20  INR 1,48,370  INR 1,36,000 
Jan 19  INR 1,46,240  INR 1,34,050 
Jan 18  INR 1,43,780  INR 1,31,800 
Jan 17  INR 1,43,780  INR 1,31,800 
Jan 16  INR 1,43,440  INR 1,31,450 
Jan 15  INR 1,43,620  INR 1,32,650 
Jan 14  INR 1,44,000  INR 1,32,000 

Factors Driving the Rally

The sudden jump in the third week of January is largely linked to international macroeconomic cues. Global spot gold prices are currently eyeing the $4,700 per ounce mark. Domestically, the rally has been further fueled by "wedding season" demand, as families look to secure gold amidst fears of even higher prices in the coming months.

Market Outlook for Investors

For retail buyers, the current volatility presents a challenge. While some are opting to wait for a technical correction or "dip", others are buying digital gold or small denominations to hedge against the rapid price escalation. Additionally, silver has followed a similar trajectory, recently crossing the historic inr 3 lakh per kg milestone in the Mumbai market, underscoring a broader rally in precious metals.

(The above story first appeared on LatestLY on Jan 20, 2026 03:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).