Gold & Silver Crash LIVE: 24K Gold ~₹16,900/gm, Silver Down 35% from Record High

Gold & Silver Crash LIVE: 24K Gold ~₹16,900/gm, Silver Down 35% from Record High

Gold & Silver Rate Today LIVE Updates (January 31, 2026): Sharp Global Correction Continues – Silver Down ~35% from Record High

                    Precious metals are witnessing one of the most dramatic corrections in recent history following explosive rallies to record highs earlier in 2026. On Friday (January 30), international gold prices fell over 11%, while COMEX silver plunged more than 31% in a massive sell-off driven by profit-booking, a rebounding US dollar, and margin hikes on futures contracts.

            As of January 31, silver remains approximately 35% below its peak of around $121.755 per ounce, with COMEX silver hovering near $85–98 per ounce (down sharply from recent highs).



In India, domestic prices have followed suit with significant declines, though local factors like jewellery demand and premiums have moderated the fall slightly in some cities. Gold and silver rates retreated from near-record levels reached mid-week, with 24K gold trading around ₹16,900–16,934 per gram in major cities and silver below ₹4 lakh per kg in most markets (some sources show further drops to ~₹3.5 lakh/kg amid ongoing volatility).

Key Highlights Today:

International Market: Gold down ~8–11% recently to around $4,879–5,075/oz; silver at ~$85–98/oz after 25–31% daily drops.

Domestic Trend: Prices stable to slightly lower on Saturday after Friday's sharp retreat; MCX gold futures around ₹1.50–1.69 lakh per 10 grams in early trade.
Reasons for Correction: Heavy profit-taking after January's surge (gold up significantly YTD), stronger dollar, and institutional margin requirements on silver futures.

Outlook: Experts warn of potential further dips in silver (possibly 30% more), while gold may stabilize as a safe-haven asset amid equity weakness.

Gold Prices Today (January 31, 2026) – City-Wise Breakdown

Prices are for physical gold (per gram) as per major sources like Good Returns, Hindustan Times, and market aggregators. Note: Rates exclude making charges/GST and can vary by jeweller; 10-gram equivalents often used for jewellery purchases.

Delhi:

24K Gold: ₹16,934 per gram (₹1,69,340 per 10 grams)
22K Gold: ₹15,524 per gram (₹1,55,240 per 10 grams)
18K Gold: ₹12,704 per gram

Mumbai:

24K Gold: ₹16,919 per gram (₹1,69,190 per 10 grams)
22K Gold: ₹15,509 per gram (₹1,55,090 per 10 grams)
18K Gold: ₹12,689 per gram

Hyderabad:

24K Gold: ₹16,919 per gram
22K Gold: ₹15,509 per gram
18K Gold: ₹12,689 per gram

Bengaluru (Bangalore):

24K Gold: ₹16,919 per gram
22K Gold: ₹15,509 per gram
18K Gold: ₹12,689 per gram

Kolkata:

24K Gold: ₹16,919 per gram
22K Gold: ₹15,509 per gram
18K Gold: ₹12,689 per gram

Other cities like Chennai may see slight premiums (e.g., higher in some reports at ~₹1,72,900 per 10 grams for 24K), but most align with Mumbai/Delhi levels post-correction.

Silver Prices Today (January 31, 2026)

Silver has seen the steepest correction, with domestic rates dropping sharply from peaks above ₹4.1 lakh/kg.

Delhi/Mumbai/Kolkata/Bengaluru:

Silver: ₹394.90 per gram (₹3,94,900 per kg) – some updates show further decline to ~₹350–395 per gram or ₹3.5 lakh/kg amid volatility.

Hyderabad:

Silver: Slightly premium at ~₹404.90 per gram (₹4,04,900 per kg) in earlier quotes, but aligning lower today.

International COMEX silver remains under pressure, down significantly from $121+ highs to current levels around $85–98/oz.


Friday's Recap (January 30, 2026) – The Big Sell-Off
Gold slipped below recent peaks: Mumbai ~₹1,70,620 per 10 grams (24K), Delhi slightly higher at ~₹1,70,770.

Silver: ~₹3,950 per 10 grams in Delhi/Mumbai; Hyderabad higher at ~₹4,150 per 10 grams.

The tumble followed Thursday's record highs, with silver particularly hit hard.

This correction comes after a strong January rally, fueled by equity market weakness, geopolitical tensions, and safe-haven buying. Domestic demand for gold jewellery remains resilient in India, supporting premiums in some regions.

Advice for Buyers/Investors: Monitor live MCX rates and international spot prices closely, as volatility persists. Consult local jewellers for exact quotes, including making charges. Gold continues to trend upward YTD despite today's dip, while silver faces more downside risk.

Short Title: Gold & Silver Crash Continues: 24K Gold ~₹16,900–16,934/gm, Silver Down 35% Globally.