Gold and silver prices in India were largely steady on Thursday, 2 January 2026, as local markets tracked international trends and currency movements. Investors and buyers found little volatility on the first trading day of the year, with demand from jewellery and investment pockets helping to keep prices firm.
Gold price today India
Benchmark 24-carat gold traded at around Rs 13,486 per gram while 22-carat gold was near Rs 12,364 per gram. Market participants said international rates, the US dollar and inflation expectations remained the main influences on domestic pricing. With the wedding season approaching and a steady flow of festival purchases, jewellers reported consistent retail demand.
City-level spreads reflected local taxes, transportation costs and retailer margins. Dealers noted only minor intraday movement and advised buyers to confirm rates with local jewellers before making large purchases.
Citywise gold rates per gram
- Delhi 24K Rs 13,503 | 22K Rs 12,379
- Mumbai 24K Rs 13,488 | 22K Rs 12,364
- Kolkata 24K Rs 13,488 | 22K Rs 12,364
- Chennai 24K Rs 13,614 | 22K Rs 12,479
Traders said the modest differences between cities reflected state duties and the competitive dynamics among local retailers rather than large swings in global bullion rates.
Silver market outlook
Silver held steady, with pure silver 999 quoted at about Rs 2,38,900 per kilogram and silver 925 around Rs 2,38,000 per kilogram. Per 10 gram rates for silver 999 were broadly uniform at Rs 2,389 in Delhi, Mumbai and Kolkata, while Chennai showed a slightly higher quote at Rs 2,569 per 10 grams.
Industry sources said industrial demand from electronics and solar panel manufacturers, together with investment interest, continued to support silver prices. Any significant change in manufacturing demand or a shock to global markets could, however, introduce volatility.
Market drivers and buyer advice
Analysts highlighted three main drivers for current prices. First, international bullion markets and the dollar exchange rate. Second, domestic demand from jewellery buyers ahead of seasonal events. Third, investor appetite as a hedge against inflation. None of these factors signalled abrupt price shifts on Thursday.
Buyers planning purchases were advised to check live rates with local jewellers, consider making payments in the local currency to avoid exchange surprises and shop around for competitive margins. For investors, a measured approach is recommended rather than reacting to small day to day moves.
Precious metal prices may change during the trading day in line with global trends and local demand. Market watchers will be watching international cues and currency movements for direction in the coming sessions.
Key Takeaways:
- Gold price today India shows 24K at Rs 13,486 per gram and 22K at Rs 12,364 per gram.
- City rates vary with Chennai marginally higher; silver remains steady at about Rs 2,38,900 per kg.
- Stable global demand, currency moves and seasonal jewellery buying are supporting prices.
