Gold and silver prices on January 22: Precious metal rate fall amid firm US dollar and weak demand

Gold prices slipped in early trade on Wednesday following a rebound in the US dollar and weak domestic demand.

The precious metal traded flat on Tuesday even as it scaled nearly a month-high level in the global markets. US President Donald Trump’s threat to impose tariffs on its neighbours and China from February 1 boosted the yellow metal’s appeal as a safe haven. However, weak domestic demand capped its gains.

After falling overnight, the US dollar rebounded in early Asian trade, which hit gold sentiment. In major Indian cities, 24K gold slipped by ₹10 to ₹81,220 per 10 grams. Spot gold was up 0.13% to $2,748 an ounce in early Asian trade.

Gold Price Today in India (January 22, 2024)

In Delhi markets, 24K gold prices declined by ₹10 to ₹81,370 per 10 grams and 22K gold at ₹74,640 per 10 grams. The 24K Gold in Mumbai dropped by ₹10 to ₹81,220 per 10 grams, and 22K gold to ₹74,490 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (January 22, 2025)

Silver prices declined by ₹100 to ₹96,400 per kilogram in major Indian cities on Wednesday due to weak global trends. Tariff war fears and the US backing out of the Paris climate deal drove the white metal lower in early trade.

Spot Silver dropped by 0.04% to $30.82 an ounce in early Asian trade. The metal moved between $30.73 and $30.91 an ounce in early trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver prices this week

Gold prices have traded in a range this week due to a firm dollar. Investors await more clarity on new US President Donald Trump’s trade policy actions before taking positions. Meanwhile, Silver prices have also traded in a range due to mixed cues on the global front.

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