Gold Prices in India January 16, 2026

As of January 16, 2026, the gold market in India is witnessing a mild cooling period following a week of aggressive price hikes. While the long-term trajectory for the precious metal remains bullish, today’s rates show a slight correction, offering a tactical window for retail buyers and investors.

According to the latest live updates from Goodreturns, gold prices have edged down by approximately ₹20 to ₹22 per gram compared to yesterday’s closing.

Today’s Gold Rates in India (January 16, 2026)

The national average for gold prices has stabilized just below the recent record highs. Here is the current price breakdown across different purity levels:

For bulk buyers, the price for 100 grams of 24K gold is currently ₹14,34,000, reflecting a ₹2,200 drop from the previous session.

City-Wise Analysis: Regional Price Variations

Gold rates in India are not uniform due to varying local taxes, transportation costs, and jewelry association mandates. Chennai remains the most expensive city to buy gold today, while Mumbai and Kolkata continue to offer more competitive “spot” rates.

• Chennai: ₹14,433 (24K) | ₹13,230 (22K)
• Mumbai: ₹14,340 (24K) | ₹13,145 (22K)
• Delhi: ₹14,355 (24K) | ₹13,160 (22K)
• Bangalore: ₹14,340 (24K) | ₹13,145 (22K)
• Hyderabad: ₹14,340 (24K) | ₹13,145 (22K)

Why are Gold Prices Fluctuating Today?

The slight decline in today’s gold rate is a textbook example of market consolidation after a major rally. Several factors are at play:

1. Surging US Dollar: The US Dollar Index has seen a recent uptick. Since gold is internationally priced in dollars, a stronger greenback makes the metal more expensive for holders of other currencies, typically leading to a slight dip in global demand.
2. Profit Booking: After gold touched a monthly high of ₹14,400 (24K) on January 14, many short-term traders are “selling into the strength” to realize gains, causing a temporary price retraction.
3. US-Venezuela Geopolitics: While tensions remain high, the lack of an immediate escalation in the last 24 hours has temporarily eased the “panic buying” that often drives safe-haven assets like gold.
4. Domestic Demand Adjustments: Following the Makar Sankranti rush, retail demand has entered a brief lull before the next wedding season surge, allowing local premiums to cool slightly.

Investment Outlook for 2026

Despite today’s minor dip, the 2026 outlook for gold remains exceptionally strong. Analysts from J.P. Morgan and the World Gold Council have highlighted that the “Golden Bull Run” is far from over.

• Central Bank Buying: Strategic accumulation by central banks—especially in emerging markets—continues to provide a massive price floor.
• Price Predictions: Forecasts suggest that gold could target $5,000 per ounce by the fourth quarter of 2026. In the Indian context, this could push 24K gold prices toward the ₹1.6 lakh mark per 10 grams.
• Digital Alternatives: There is a notable shift toward Sovereign Gold Bonds (SGBs) and Gold ETFs among younger Indian investors, which allows for price exposure without the 3% GST and making charges associated with physical jewelry.

Essential Checklist for Today’s Buyers

If you are planning to purchase gold today, keep these three tips in mind:

1. HUID Hallmarking: Only buy jewelry with the BIS Hallmark and HUID code to ensure purity.
2. Negotiate Making Charges: While the gold rate is fixed, “making charges” are negotiable. They can range from 8% to 25% depending on the design.
3. The GST Impact: Remember that the prices listed on Goodreturns are “spot prices.” You must add 3% GST to the final value of your purchase.

Conclusion

Today’s price of ₹14,340 per gram (24K) represents a healthy correction in a broader uptrend. For long-term investors, these small pullbacks are often the most strategic times to “buy the dip.” As global economic uncertainty persists, gold continues to prove why it is the ultimate anchor for any diversified portfolio.