Gold Rate In India Continues Rally on Jan 6 as Global Tensions Fuels Demand; Silver Up Rs.12,000 in Two Days

Gold prices in India today continued their rise after experiencing another jump this week and hovering near record levels in the first month of 2026. The rally in gold rate in India followed gains in global bullion markets, where gold climbed to 7 days high this morning after escalating tensions involving Venezuela boosted safe-haven demand, keeping gold prices firm both globally and in the domestic market.

On 6th January, 24-carat gold rates in India jumped by Rs. 600 per 10 grams to cost Rs.1,38,820.While the 22-carat gold price stands at Rs. 1,27,250 per 10 grams after a rise of Rs. 550. The cheaper variant, 18-carat gold, spiked by Rs.450 to retail at Rs. 1,04, 120 per 10 grams.
The bigger weight variant was seen at the same spike. 100 grams of 24-carat gold rates now retail at Rs. 13,88,200, and the 22-carat gold rates per 100 grams now cost Rs.12,72,500.

Silver prices in India today

Silver rates in India today also saw another big jump, with prices rising to Rs. 12000 per kg in the last two days. Currently, 1 kg of silver costs Rs. 2,53,000 with an increase of Rs. 5000, and 100 grams of silver costs Rs. 25,300, which jumps to Rs. 500.

Gold prices in Chennai, Bengaluru, and Hyderabad

MCX Gold and Silver Futures

Gold prices on the MCX (Multi Commodity Exchange) today traded flat. Gold futures due to mature on February 5th were up by 0.34% to Rs. 1,38,589 per 10 grams

Silver futures, with an expiration date of March 5th, saw a big rise this morning, trading 1.79% higher at Rs. 2,50,555.
"MCX Gold Feb is expected to rise towards ₹139,000 level as long as it stays above ₹137,000 level. MCX Silver March is expected to rise towards ₹251,000 level as long as it stays above ₹243,000 level" as per Commodity outlook by ICICI Direct.

Global Gold and Silver Price Update

According to Reuters, Spot gold was up 0.5% at $4,469.96 per ounce, as of 0534 GMT, after rising nearly 3% in the last session. U.S. gold futures for February delivery rose 0.7% to $4,481.30. Spot silver gained 3.5% to $79.18 per ounce."

As per the commodity report from ICICI Direct, "Spot Gold is likely to trade with the positive bias and rise towards $4500 level on weakness in dollar and softening of US treasury yields across curve. Further, prices may rally as weaker set of economic data from US has raised concerns over economic slowdown, bolstering hopes for more than 1 rate cut in 2026. Additionally, demand for safe haven may increase on escalating geopolitical tension in Eastern Europe, Middle East and Venezuela. Furthermore, US President Donald Trump has warned of another strike if Caracas resist US efforts to open up its oil industry and stop drug trafficking and signaled possible action against Colombia and Mexico. Moreover, prices may rally on strong central bank demand for gold and ongoing concern over Fed independence."

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