Gold and silver price on January 30: Gold rate hit fresh record high on weak dollar

Gold prices hit a fresh record high in early trade on Thursday, January 30, led by retail demand and weak US dollar in global markets.

Strong retail demand ahead of a busy marriage season in February supported the metal in domestic markets.

The US Federal Reserve kept its policy rates unchanged on Wednesday as it awaited more data and certainty on the trade policy front before beginning the rate cut cycle. The US dollar and US bond yields softened, which aided the gold price.

Gold prices rebounded by ₹920 after a weak start on Wednesday, with the 24K gold hitting ₹82,850 per 10 grams in major cities.

The 24K gold breached ₹83,000 mark and the 22K gold ₹76,000 per 10 grams levels for the first time in Delhi on Thursday. Meanwhile, the spot gold increased by 0.02% to $2,760 an ounce in early Asian trade on Thursday.

Gold Price Today in India (January 30, 2024)

In Delhi markets, 24K gold prices gained by ₹10 to ₹83,010 per 10 grams and 22K gold at ₹76,110 per 10 grams. The 24K Gold in Mumbai edged up ₹10 to ₹82,860 per 10 grams and 22K gold to ₹75,960 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (January 30, 2025)

Silver prices eased by ₹100 to ₹96,400 per kg in major Indian cities on Thursday due to poor offtake by industrial users and coin makers.

The white metal traded almost flat after recovering from overnight losses in global markets, keeping local prices in a range. On Wednesday, the metal price remained unchanged at ₹96,500 in lacklustre trade. Spot Silver was up 0.01% to $30.84 an ounce in early Asian trade.

Silver Price Today in Major Cities

Comparison of Gold and Silver Prices This Week

Gold prices snapped the three-day falling streak and rebounded to all-time highs on Wednesday as the US dollar eased and local demand improved. After the US Fed decision, investors will turn to key economic data for further direction.

Silver prices have traded in a range this week due to poor offtake by industrial users and mixed global cues.

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