New Delhi, January 29: Gold prices in India surged to fresh all-time highs on Thursday, extending a historic rally as escalating tensions between the United States and Iran rattled global financial markets. The precious metal continues to attract strong safe-haven inflows, with investors seeking protection amid rising geopolitical uncertainty and market volatility. Check the current gold rates in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Srinagar, Jodhpur, Jaipur, Bhopal, Lucknow, Noida, Ghaziabad, and Gurugram. 

Market participants say the current rally is being driven primarily by geopolitical risk rather than traditional demand-supply factors. Renewed threats and strategic posturing in the Middle East have triggered a clear risk-off sentiment, pushing investors away from equities and toward assets like gold and silver that are seen as stores of value during crises. Gold Rate Today, January 28, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

According to commodities analysts, sustained buying from institutional investors and central banks has provided strong underlying support to prices. With fears of currency volatility and global economic disruption rising, gold has emerged as one of the most preferred hedging instruments in early 2026. Dubai Gold Rate Today: 18K, 22K, 24K Gold Prices for January 27.

Gold Rate Today (January 29, 2026)

Note: Rates are per 10 grams and may vary slightly during the day due to market volatility.

City 22 Carat (10g) 24 Carat (10g)
New Delhi INR 1,53,300 INR 1,67,230
Mumbai INR 1,53,150 INR 1,67,080
Chennai INR 1,56,100 INR 1,70,290
Kolkata INR 1,53,150 INR 1,67,080
Bengaluru INR 1,53,150 INR 1,67,080
Hyderabad INR 1,53,160 INR 1,67,090
Ahmedabad INR 1,53,200 INR 1,67,130
Jaipur INR 1,53,300 INR 1,67,230
Lucknow INR 1,53,300 INR 1,67,230
Bhopal INR 1,53,210 INR 1,67,140
Jodhpur INR 1,54,390 INR 1,68,420
Srinagar INR 1,52,400 INR 1,60,020
Noida INR 1,53,300 INR 1,67,230
Ghaziabad INR 1,53,300 INR 1,67,230
Gurugram INR 1,53,300 INR 1,67,230

Gold Up 65 Percent Year on Year

The latest spike is part of a powerful uptrend that has defined the precious metals market over the past year. Domestic gold prices are now trading nearly 65 percent higher compared to the same period last year, making gold one of the best-performing asset classes in India.

Despite record prices, physical demand has remained resilient. India, the world’s second-largest consumer of gold, continues to see steady buying interest, supported by wedding demand and long-term investment sentiment.

Jewellery Demand Defies High Prices

Contrary to concerns that elevated prices would dent consumption, the jewellery sector is witnessing surprising strength. Industry estimates suggest that certain segments have recorded a 30 to 40 percent rise in sales volumes, as consumers increasingly view gold as a financial safety net rather than just a luxury purchase.

Experts note a behavioral shift among buyers, with confidence in gold’s long-term value preservation outweighing concerns over short-term price levels.

Looking ahead, analysts expect gold prices to remain volatile but well supported as long as geopolitical tensions persist. While intermittent profit-booking cannot be ruled out, the broader trend remains bullish, with investors closely tracking developments in the Middle East and upcoming US economic data for further cues.

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(The above story first appeared on LatestLY on Jan 29, 2026 08:47 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).