Rates of precious metals in futures trade dropped on Thursday, January 22, 2026, as geopolitical tensions and safe-haven demand eased after US President Donald Trump called off Greenland-related tariffs. The gold February 5 contract on the Multi Commodity Exchange (MCX) opened with a dip of Rs 1,305 at Rs 1,51,557 per 10 grams against the previous close of Rs 1,52,862. It fell further to hit the intraday low of Rs 1,48,777, a drop of Rs 4,085 or 2.67 per cent. Last seen, the precious metal futures were trading at Rs 1,50,543, down Rs 2,319 or 1.52 per cent.
On the MCX, the yellow metal futures for April 2026 were down by Rs 2,364 or 1.47 per cent to trade at Rs 1,58,050 per 10 grams in business turnover of 5846 lots.
Silver Price On MCX
However, the silver futures, maturing on March 5, 2025, started the session in the green. It started the trading session at Rs 3,19,843, up from its previous close of Rs 3,18,492. However, it fell amid profit-booking and touched a low of 3,05,753, a drop of 12,739. Last seen, it was trading at Rs 3,09,346 with a drop of Rs 9,146 or 2.87 per cent.
Gold Price in the International Market
In the international market, the COMEX gold price was down by 0.79 per cent to approximately USD 4,799.2 per troy ounce. The spot gold price at 11 am was USD 4,795.89 per ounce, down by USD 38.59 or 0.80 per cent.
Key levels to watch
According to Rahul Kalantri, VP Commodities, Mehta Equities Ltd., gold has support at Rs 1,51,050-1,49,310, while resistance is at Rs 1,54,850-1,55,950. Silver has support at Rs 3,04,810, 2,92,170, while resistance is at Rs 3,20,810, 3,24,470.
"Gold and silver experienced sharp volatility in early trade, touching fresh record highs before easing gains later in the session. The profit booking was followed by U.S. President Donald Trump’s remarks at the Davos forum, where he ruled out the use of force to acquire Greenland, easing geopolitical concerns. This led to profit booking in precious metals amid persistent risk aversion in global markets. Nevertheless, uncertainty surrounding U.S. trade tariffs and the prevailing “sell America” narrative continue to underpin safe-haven demand, while rupee weakness is supporting domestic bullion prices," Kalantri said.
Check Gold, Silver Prices In Major Cities
Gold price in Delhi
In Delhi, the 24-carat gold price was quoted at Rs 1,54,446 per 10 grams. For 22-carat gold, the consumer would have to spend Rs 1,41,600 per 10 grams.
Gold price in Mumbai
In Mumbai, 24-carat gold was available at Rs 1,54,310 per 10 grams, while 22-carat gold stood at Rs 1,41,450 per 10 grams.
Gold price in Kolkata
The 24-carat gold price in Kolkata today was Rs 1,54,310 per 10 grams, while the rate for 22-carat gold was Rs 1,41,450 per 10 grams.
Gold price in Chennai
In Chennai, the 24-carat gold was available for Rs 1,54,910 per 10 grams. For 22-carat gold, the rate was Rs 1,42,000 per 10 grams.
Silver prices in Delhi
The price of silver per kg in the national capital was Rs 3,25,000.
Silver price in Mumbai
In Mumbai, the consumer would have to pay Rs 3,25,000 per kg today to buy the precious metal.
Silver price in Kolkata
In Kolkata, the price of 1 kg of silver stood at Rs 3,25,000.
Silver price in Chennai
In Chennai, the price of precious metal stood at Rs 3,40,000 per kg.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
