Gold prices in India witnessed a mild decline at the beginning of the new week, while silver rates also slipped, reflecting mixed signals from domestic and global markets. On Monday morning, January 19, 2026, precious metals traded slightly lower in key Indian cities, even as investors continue to track international developments, especially expectations around interest rate cuts by the US Federal Reserve.

At the start of the week, 24-carat gold prices softened across major metros. In the national capital Delhi, the price of 24-carat gold stood at ₹1,43,920 per 10 grams, while 22-carat gold was priced at ₹1,31,940 per 10 grams. In Mumbai, Chennai, and Kolkata, 24-carat gold was trading at ₹1,43,770 per 10 grams, whereas 22-carat gold was available at ₹1,31,790 per 10 grams.

Ahmedabad recorded slightly higher prices, with 24-carat gold selling at ₹1,43,820 per 10 grams and 22-carat gold at ₹1,31,840 per 10 grams. Similar rates were seen in cities like Bhopal, Jaipur, Lucknow, and Chandigarh, reflecting marginal regional variations due to local taxes, transportation costs, and jewellers’ margins.

Despite the dip seen today, gold prices have remained firm over the past week. Over the last seven days, 24-carat gold has gained ₹3,320 per 10 grams, while 22-carat gold has risen by ₹3,050 per 10 grams, indicating sustained investor interest in the yellow metal.

• Delhi: 22-carat – ₹1,31,940 | 24-carat – ₹1,43,920




• Mumbai: 22-carat – ₹1,31,790 | 24-carat – ₹1,43,770




• Ahmedabad: 22-carat – ₹1,31,840 | 24-carat – ₹1,43,820




• Chennai: 22-carat – ₹1,31,790 | 24-carat – ₹1,43,770




• Kolkata: 22-carat – ₹1,31,790 | 24-carat – ₹1,43,770




• Hyderabad: 22-carat – ₹1,31,790 | 24-carat – ₹1,43,770




• Jaipur: 22-carat – ₹1,31,940 | 24-carat – ₹1,43,920




• Bhopal: 22-carat – ₹1,31,840 | 24-carat – ₹1,43,820




• Lucknow: 22-carat – ₹1,31,940 | 24-carat – ₹1,43,920




• Chandigarh: 22-carat – ₹1,31,940 | 24-carat – ₹1,43,920

Gold prices in the domestic market are influenced not only by local demand but also by global trends. In the international market, spot gold was trading at $4,603.51 per ounce, reflecting cautious optimism among investors.

Weak inflation data from the United States has strengthened expectations that the US Federal Reserve may begin cutting key interest rates in the near future. The next meeting of the Federal Open Market Committee (FOMC) is scheduled for January 27–28, and any indication of rate cuts could boost demand for safe-haven assets like gold and silver.

Lower interest rates generally reduce the opportunity cost of holding non-yielding assets such as gold, making them more attractive to investors during uncertain economic conditions.

Silver prices also witnessed a decline on Monday morning. In the domestic market, silver slipped to ₹2,94,900 per kilogram, marking a short-term correction. However, on a weekly basis, silver prices have risen by ₹35,000 per kilogram, highlighting strong momentum in recent sessions.

So far in 2026, silver prices in the Indian market have surged by around 22.4 percent, driven by industrial demand and global price trends. In the international market, spot silver was trading at $90.33 per ounce, indicating continued volatility.

Market experts believe that precious metals may remain volatile in the near term as investors await clarity on global monetary policy, inflation trends, and geopolitical developments. While short-term fluctuations are expected, gold and silver continue to be viewed as long-term hedges against inflation and economic uncertainty.

For retail buyers and investors, today’s dip may offer a small window to accumulate gold, especially ahead of upcoming festive and wedding seasons, when demand traditionally rises. As always, prices may vary slightly depending on city, jeweller, and applicable taxes.

Disclaimer: Gold and silver prices change frequently. Investors are advised to check real-time rates and consult financial advisors before making investment decisions.