News India Live, Digital Desk: Today i.e. on January 29, 2026, the prices of gold and silver have broken all previous records in the bullion markets across the country including Uttar Pradesh. While gold rose by more than ₹ 12,000 as soon as the market opened on Thursday, silver has made a historic jump and has crossed the psychological level of ₹ 4 lakh per kg. Just before the wedding season, this “fire” in prices has kept the common buyers away from the markets, due to which the bullion markets are looking deserted. Today’s price in major cities of UP (24 carat gold)Gold prices have reached new peaks in the big cities of Uttar Pradesh. Today’s price (per 10 grams) jumps compared to yesterdayLucknow₹1,80,830+ ₹12,440Varanasi₹1,77,070+ ₹11,770Meerut₹1,80,840+ ₹12,000+Kanpur₹1,79,000+ ₹11,000+New record of silver:Today’s price: ₹ 3,99,000 – ₹ 4,03,000 per kg (in various cities). Gain: A huge rise of almost ₹ 39,000 per kg compared to yesterday. 4 main reasons for this ‘historic’ jump in prices. According to experts, global and domestic conditions are responsible for this storm in the bullion market: US Federal Reserve’s decision: The US Fed has decided to keep the interest rates stable, giving investors a The inclination has moved towards safe haven i.e. gold and silver. Geopolitical Tensions: The increasing tension between the US and Iran in the Gulf region and the continuation of the Russia-Ukraine crisis have created uncertainty in the global market. Weakness of the Dollar: The US dollar has reached a 4-year low in the international market. When the dollar weakens, gold prices naturally increase. Wedding Season: Wedding season is about to start in India, due to which a huge increase is being seen in the demand for physical gold. Market condition: Buyers missing, jewelers worried. There is silence in the bullion markets after the prices reached this level: Out of reach of common man: Buying gold has now become a big challenge for middle class families. Jewelers say: According to local jewelers of Varanasi and Lucknow, people are only coming to ask for prices, purchases are being made to a negligible extent. The number of people selling or exchanging old jewelery may increase. Investors’ Silver: People who had invested earlier have made a profit of about ₹ 1 lakh per kg on silver in just 10 days. Expert Advice: There is extreme volatility in the market. Experts believe that gold prices may soon touch the ₹ 2 lakh mark, so the strategy of ‘buy on dips’ may be right for long-term investors.