Gold At New Record High, Silver Crosses Rs 3 Lakh: City-Wise Rates On January 19
Gold and silver prices surged on Monday, January 19, as investors across global markets rushed towards safe-haven assets amid escalating geopolitical tensions. The rally followed fresh uncertainty triggered by US President Donald Trump’s warning of additional tariffs on European countries over the control of Greenland, unsettling risk sentiment worldwide.
In India, the sharp rise was reflected across key cities. In Mumbai, 24-carat gold climbed to Rs 1,45,690 per 10 grams, while 22-carat gold was priced at Rs 1,33,550 per 10 grams. These rates do not include GST and making charges. Silver also hit a fresh all-time high, touching Rs 3,05,100 per kg in the spot market.
The upward momentum was equally strong in international markets. Spot gold rose 1.5% to $4,663.37 per ounce by 0335 GMT, after briefly touching an all-time high of $4,689.39 per ounce earlier in the session. US gold futures for February delivery also jumped 1.6% to $4,669.90 per ounce.
The spike came after Trump reiterated his stance on imposing a series of escalating tariffs on European allies unless the United States is allowed to buy Greenland, intensifying an already tense diplomatic standoff involving Denmark and the European Union.
Europe Prepares Response As Tensions Rise
European Union ambassadors reportedly reached a broad agreement on Sunday to intensify efforts aimed at dissuading Trump from imposing tariffs. At the same time, EU officials are preparing retaliatory measures should the proposed duties move forward.
“Geopolitical tensions have given gold bulls yet another reason to push the yellow metal to new highs," StoneX senior analyst Matt Simpson said.
“With Trump throwing tariffs into the mix, it is clear that his threat to Greenland is real, and that we could be one step closer to the end of NATO and political imbalances within Europe."
Safe-Haven Demand Strengthens
The uncertainty weighed heavily on US stock futures and the dollar, pushing investors towards traditional safe-haven assets such as gold, the Japanese yen, and the Swiss franc. A low-interest-rate environment, combined with geopolitical and economic instability, continues to support demand for non-yielding assets like gold.
What Drives Gold Prices In India?
Gold prices in India are influenced by international rates, import duties, taxes, and currency fluctuations. Beyond market dynamics, gold holds deep cultural and financial significance in the country, especially during weddings and festivals.
With volatility increasing, investors and buyers are closely tracking daily price movements to stay ahead in a rapidly changing market.
In India, the sharp rise was reflected across key cities. In Mumbai, 24-carat gold climbed to Rs 1,45,690 per 10 grams, while 22-carat gold was priced at Rs 1,33,550 per 10 grams. These rates do not include GST and making charges. Silver also hit a fresh all-time high, touching Rs 3,05,100 per kg in the spot market.
Global Markets Mirror The Rally
The upward momentum was equally strong in international markets. Spot gold rose 1.5% to $4,663.37 per ounce by 0335 GMT, after briefly touching an all-time high of $4,689.39 per ounce earlier in the session. US gold futures for February delivery also jumped 1.6% to $4,669.90 per ounce.
The spike came after Trump reiterated his stance on imposing a series of escalating tariffs on European allies unless the United States is allowed to buy Greenland, intensifying an already tense diplomatic standoff involving Denmark and the European Union.
Europe Prepares Response As Tensions Rise
European Union ambassadors reportedly reached a broad agreement on Sunday to intensify efforts aimed at dissuading Trump from imposing tariffs. At the same time, EU officials are preparing retaliatory measures should the proposed duties move forward. “Geopolitical tensions have given gold bulls yet another reason to push the yellow metal to new highs," StoneX senior analyst Matt Simpson said.
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“With Trump throwing tariffs into the mix, it is clear that his threat to Greenland is real, and that we could be one step closer to the end of NATO and political imbalances within Europe."
Safe-Haven Demand Strengthens
The uncertainty weighed heavily on US stock futures and the dollar, pushing investors towards traditional safe-haven assets such as gold, the Japanese yen, and the Swiss franc. A low-interest-rate environment, combined with geopolitical and economic instability, continues to support demand for non-yielding assets like gold. What Drives Gold Prices In India?
Gold prices in India are influenced by international rates, import duties, taxes, and currency fluctuations. Beyond market dynamics, gold holds deep cultural and financial significance in the country, especially during weddings and festivals.With volatility increasing, investors and buyers are closely tracking daily price movements to stay ahead in a rapidly changing market.
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