Gold and silver price on January 28: Precious metals trade lower amid fear of global trade war

Gold prices dropped for the second straight day in early trade on Tuesday, January 28, as a firm dollar and rebound in US bond yields hit safe-haven demand. Increased worries of a tariff war and caution ahead of the US Federal Reserve’s policy decision on Wednesday weighed on the precious metal.

In major Indian cities, 24-carat gold traded lower by ₹10 at ₹82,240 per 10 grams, while 22-carat gold traded at ₹75,390 per 10 grams. On Monday, the prices of 24K gold declined by ₹170 to ₹82,250 per 10 grams, and those of 22K gold by ₹75,400 per 10 grams. Spot gold declined by 0.03% to $2,739 an ounce in early Asian trade on Monday.

Gold Price Today in India (January 28, 2024)

In Delhi markets, 24K gold prices edged lower by ₹10 to ₹82,390 per 10 grams and 22K gold at ₹75,540 per 10 grams. The 24K gold in Mumbai fell ₹10 to ₹82,240 per 10 grams and 22K gold to ₹75,390 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (January 28, 2025)

Silver prices fell for the second day in a row on Tuesday, retreated by ₹100 to ₹96,400 per kg in major Indian cities.

Weak Chinese manufacturing data and a firm US dollar hit the appeal of non-yielding metal. Silver prices had retreated by ₹1000 to ₹96,500 per kg on Monday.

Spot silver dropped 0.51% to $30.05 an ounce in early Asian trade. The metal moved between $30.04 and $30.23 an ounce in early trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices continued to fall on Tuesday due to a stronger dollar in global markets. Gold hit its all-time high level on Friday amid hopes of a rate cut by the US Fed this year but rising trade war tensions have hit the bulls.

Silver prices also dropped for the second day due to weak Chinese economic data.

Here’s a comparison of gold and silver prices from earlier this week: