Gold and silver prices continued their upward momentum on January 29, reflecting strong demand in domestic bullion markets. Silver prices crossed the ₹4 lakh mark, while gold traded above ₹1.75 lakh, keeping investors and buyers on alert amid persistent volatility.
Gold and Silver Prices Surge
The rise in precious metal prices comes amid a mix of global economic uncertainty, inflationary pressures, and sustained demand for safe-haven assets. Market participants are closely tracking international cues, currency movements, and central bank signals, all of which are influencing bullion prices.
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Gold Rates Remain Firm Across Cities
On Wednesday, 22-carat and 24-carat gold prices remained elevated across major Indian cities. The steady rise in gold prices is being driven by global trends, including fluctuating bond yields and a cautious outlook among investors. Wedding season demand and long-term investment interest have also contributed to firm prices in the domestic market.
Jewellers noted that while higher prices may impact short-term retail buying, gold continues to attract investors looking for stability amid market uncertainties.
Silver Breaks ₹4 Lakh Milestone
Silver registered a notable surge, crossing ₹4 lakh, supported by industrial demand and global price strength. Analysts point out that silver’s dual role—as both an industrial metal and a precious asset—has made it particularly sensitive to economic developments, resulting in sharper price movements.
What’s Driving the Price Rally
Experts attribute the ongoing rally in gold and silver prices to:
- Global economic and geopolitical uncertainties
- Expectations around interest rate decisions
- Rupee-dollar exchange rate fluctuations
- Strong investment demand for precious metals
Outlook for Investors
Market observers suggest that bullion prices may remain volatile in the near term, with movements largely dependent on international market trends. Investors are being advised to keep a close watch on global indicators before making fresh buying decisions.
With gold and silver holding strong levels, precious metals continue to remain in focus for both investors and retail buyers across the country.
