Gold and Silver Prices Surge Across India: Latest Rates in Mumbai, Delhi, Chennai, and More
Gold and silver prices have increased across major Indian cities on Monday, Jan. 12, 2026, as the precious metals felt the pressure of US Federal Reserve Chair Jerome Powell receiving subpoenas from the Department of Justice.
Today, gold is trading at Rs 1,39,400 while silver is at Rs 2,52,380, according to Bullions’ website.
Gold Prices in Major Indian Cities
In Mumbai, the financial heart of the country, 24-carat gold is retailing at approximately Rs 1,39,140 per 10 grams. Kolkata follows a similar upward trend, with its gold rate reported at Rs 1,38,960. Both cities have outpaced the national capital, Delhi, where the 24-carat rate currently stands at Rs 1,38,900.
The southern markets, however, continue to record the highest figures in the country. Chennai leads the metros with a peak rate of Rs 1,39,550, while Hyderabad and Bengaluru follow closely at Rs 1,39,660 and Rs 1,39,250 respectively, further widening the price gap between the southern hubs and the capital.
Silver Prices in Major Indian Cities
Silver rallied even more than gold levels with an Indian average at Rs 2,52,380. The white metal was trading at Rs 2,51,920 in Mumbai, according to Bullion’s website.
Today, silver in Delhi is trading at approximately Rs 2,51,490 per kg, while in southern cities like Chennai and Hyderabad, the price is even higher at Rs 2,52,660 and Rs 2,52,320 per kg due to local demand and tax variations.
Current Gold and Silver Rates
The following rates are as per 10 grams of gold.
- Mumbai: Rs 1,39,140
- Delhi: Rs 1,38,900
- Bengaluru: Rs 1,39,250
- Chennai: Rs 1,39,550
- Hyderabad: Rs 1,39,660
- Kolkata: Rs 1,38,960
Gold prices stabilised around $4,575 per ounce, influenced by a stronger US dollar and the recent DoJ action against US Federal Reserve Chair Jerome Powell.
Gold just emerged from a record-setting year, where almost every tailwind supporting the precious metal combined, from falling interest rates and heightened geopolitical tension, to lower trust in the US dollar, reports Bloomberg.
Impact of US Federal Reserve Chair Jerome Powell on Gold Prices
The recent subpoenas issued to US Federal Reserve Chair Jerome Powell have created a sense of uncertainty in the market, leading to an increase in gold prices. This is because gold is often seen as a safe-haven asset during times of economic uncertainty.
For more information on gold prices in India, visit our website. We also provide updates on silver prices in India, as well as other precious metals news.
Investing in Gold and Silver
Investing in gold and silver can be a great way to diversify your portfolio and hedge against inflation. However, it’s essential to do your research and understand the market trends before making any investment decisions.
For more information on investing in gold and investing in silver, visit our website. We also provide updates on Indian stock market news and other financial news.