Table of Contents
The historic rally in the Indian bullion market has hit a major roadblock. As of January 31, 2026, gold and silver prices have witnessed a sharp correction, ending the month on a volatile note. After a record-breaking streak that saw 24-karat gold reaching unprecedented highs, profit-booking and a rebounding US dollar have triggered a massive “wipeout” for investors.
If you are checking the gold rate today 31 January 2026, here is the definitive guide to the price shifts in India, Chennai, Kolkata, Delhi, and major MCX futures.
Gold Rate Today India: Sharp Correction Ahead of Budget 2026
In a major development just before the unveiling of Budget 2026, the today gold price in India has dropped sharply. Market analysts are calling it one of the largest two-day falls in history, with nearly ₹1.8 lakh wiped out per 100 grams of 24K gold within 48 hours.
City-Wise Gold Rates (Per 10 Grams)
- Gold Price Today 24 Carat (Delhi): ₹1,69,340
- Today Gold Price Kolkata (24K): ₹1,69,190
- Gold Rate Today in Chennai (24K): ₹1,72,900
- Gold Rate in Hyderabad (24K): ₹1,69,190
- Gold Rate Today in Vijayawada (22K): ₹1,55,090
For retail buyers, the today gold price 22k stands near ₹1.55 lakh per 10 grams in most metropolitan cities, while 18 carat gold price today is retailing at approximately ₹1.27 lakh.
Silver Rate Today: The “Collapse” from Record Highs
The story of the month has been the silver rate now. After surging past the ₹4.10 lakh per kg milestone earlier this week, silver prices in India today have consolidated. For those tracking the silver rate today 1 kg, the price has corrected to approximately ₹3,94,900 in Delhi and Mumbai.
Key Silver Prices at a Glance:
- Silver Rate Today India (1 kg): ₹3,94,900
- Today Silver Rate Chennai: ₹4,04,900 (Trading at a premium)
- Silver Rate Today Kolkata: ₹3,94,900
- Silver MCX Rate: ₹2,91,922 (March futures)
The silver rate today per kg saw a significant dip as international spot silver prices tumbled over 26% on Friday, following a hawkish stance from the US Federal Reserve.
MCX Gold and Silver Price Live Update
The silver price today: mcx and gold mcx price today are the primary focus for commodity traders. The silver mcx rate today settled near ₹2.91 lakh, failing to sustain the massive speculative highs seen mid-month. Similarly, gold silver mcx live today data indicates that while the long-term trend remains positive, the short-term technical indicators suggest a necessary cooling period.
Platinum Price Today: A 4-Week Low
Investors in white metals are also seeing a shift. The platinum price today in India stands at ₹7,393 per gram (₹73,930 per 10 grams). In cities like Kolkata, the rate saw a sharp decrease of over ₹9,000 per 10 grams compared to yesterday’s highs, mirroring the broader liquidation across precious metals.
Conclusion: Is This a Buying Opportunity?
As January comes to a close, the gold and silver price trend suggests a period of consolidation. While the silver news today might seem discouraging for recent buyers, long-term investors view this “crash” as a potential entry point before the volatility of the post-Budget market.
Stay updated with our live feed for the latest silver price now and gold rate today in Delhi, Mumbai, and beyond.
Other Articles
