As of January 20, 2026, the Indian gold market is experiencing a historic surge, with prices shattering previous records. Fueled by global trade war fears and technical momentum, gold has crossed the significant ₹1.47 lakh mark for 10 grams of 24K gold.
According to the latest live updates from Goodreturns, gold prices have jumped by ₹104 per gram today, marking a massive two-day rally that has seen prices climb by nearly ₹35,000 per 100 grams.
Today’s Gold Rates in India (January 20, 2026)
The market is currently in a strong “bullish” phase. Below is the updated price breakdown for different purity levels across India:
| Purity | Price per Gram (Today) | Price per 10 Grams | Change (vs Yesterday) |
| 24K Gold (99.9% Pure) | ₹14,728 | ₹1,47,280 | + ₹104 |
| 22K Gold (Standard) | ₹13,500 | ₹1,35,000 | + ₹95 |
| 18K Gold (Jewelry) | ₹11,046 | ₹1,10,460 | + ₹78 |
For bulk investors, 100 grams of 24K gold is currently retailing at ₹14,72,800, reflecting the extreme volatility and high demand in the current session.
City-Wise Gold Price Analysis
While the surge is national, local factors such as octroi and jewelry association premiums lead to variations. Chennai remains the most expensive city for gold buyers today.
- Chennai: ₹14,848 (24K) | ₹13,610 (22K)
- Mumbai: ₹14,728 (24K) | ₹13,500 (22K)
- Delhi: ₹14,743 (24K) | ₹13,515 (22K)
- Bangalore: ₹14,728 (24K) | ₹13,500 (22K)
- Hyderabad: ₹14,728 (24K) | ₹13,500 (22K)
Why are Gold Prices Hitting Record Highs Today?
The unprecedented rally is driven by a “perfect storm” of global macroeconomic triggers:
- Global Trade War Fears: Renewed rhetoric regarding US trade tariffs has sent shockwaves through international markets. Investors are fleeing equities and parking capital in gold as a “safe haven.”
- Geopolitical Instability: Tensions in the Middle East and political unrest in Venezuela continue to provide a floor for prices.
- Weakening US Dollar: A dip in the US Dollar Index has made gold more attractive globally, as the metal becomes cheaper for holders of other currencies, driving up demand.
- Technical Momentum: On the MCX (Multi Commodity Exchange), gold has displayed a “higher-high” structure, meaning every small dip is being met with aggressive buying from institutional investors.
Market Outlook for 2026
The long-term trajectory for gold remains incredibly bullish. Analysts from J.P. Morgan and the World Gold Council forecast that spot gold could smash the $4,700 per ounce level shortly.
In India, if the current pace continues, 24K gold is expected to test the ₹1.5 lakh to ₹1.6 lakh range before the end of the first quarter of 2026. Central banks in emerging markets are also reportedly increasing their gold reserves, further tightening the supply for retail buyers.
Buyer’s Guide: Investing in a High-Price Market
Given that prices are at an all-time high, buyers should consider the following:
- Look for HUID: Ensure every piece of jewelry has the mandatory BIS Hallmark and HUID code to guarantee you are getting the purity you pay for.
- Sovereign Gold Bonds (SGBs): If you are buying for investment rather than wear, SGBs or Gold ETFs are more cost-effective as they avoid the 3% GST and making charges.
- Digital Gold: Many investors are now using digital platforms to “SIP” into gold, buying in small denominations to average out the cost during this volatile period.
Conclusion
Today’s rate of ₹14,728 per gram signals a new era for gold in India. While the prices may seem daunting, the underlying global risks suggest that gold remains the most reliable hedge against inflation and economic uncertainty in 2026.