Gold Silver Rate 31 Jan: The upward trend in gold and silver prices has come to a halt. Silver prices have plunged by more than ₹1 lakh in a single day, while gold has also seen a notable decline. A day ahead of the Union Budget, on the morning of 31 January, the price of 24-carat gold in the national capital Delhi slipped to ₹1,69,340 per 10 grams. In Mumbai, gold is trading lower at ₹1,69,190 per 10 grams.
In the international market, gold is currently priced at $5,087.73 per ounce. The decline in gold prices is attributed to a stronger US dollar, weak global cues, and profit-booking by investors. Here’s a look at the latest gold and silver prices following this fall.
Gold Silver Rate 31 Jan: Latest prices of major cities (Gold Per 10 grams)
| City | 22 Carat Gold (₹) | 24 Carat Gold (₹) |
|---|---|---|
| Delhi | ₹1,55,240 | ₹1,69,340 |
| Lucknow | ₹1,55,240 | ₹1,69,340 |
| Mumbai | ₹1,55,090 | ₹1,69,190 |
| Bhopal | ₹1,55,140 | ₹1,69,240 |
| Jaipur | ₹1,55,240 | ₹1,69,340 |
| Hyderabad | ₹1,55,090 | ₹1,69,190 |
| Chandigarh | ₹1,55,240 | ₹1,69,340 |
| Ahmedabad | ₹1,55,140 | ₹1,69,240 |
| Kolkata | ₹1,55,090 | ₹1,69,190 |
| Chennai | ₹1,55,090 | ₹1,69,190 |
Silver Rate Today 31 Jan: What is the latest silver price in these cities (according to GoodReturns)
| City | 1 kg (₹) |
|---|---|
| Mumbai | ₹3,50,000 |
| Meerut | ₹3,50,000 |
| Delhi | ₹3,50,000 |
| Pune | ₹3,50,000 |
| Ludhiana | ₹3,50,000 |
| Lucknow | ₹3,50,000 |
| Ahmedabad | ₹3,50,000 |
| Patna | ₹3,50,000 |
| Kolkata | ₹3,50,000 |
| Jaipur | ₹3,50,000 |
Gold Silver Crash: Why did the prices of gold and silver fall so drastically?
Gold and silver prices had risen sharply, and experts had already predicted a decline. Their predictions proved true on Friday. There are several reasons behind this decline. Gold and silver prices suddenly fell. The main reason was that investors began booking profits after making significant profits. That is, they began selling gold and silver, which led to a decline in prices.
- The dollar strengthened – When the dollar rises in value, gold and silver become more expensive to buy, so people buy less.
- US Treasury yields increased – As safe bonds started giving higher returns, investors started investing in bonds, leaving gold and silver.
- Global and US news effects – Trump’s statement and news of changes in the US Fed also put pressure on prices.
Gold Silver Rate Today 31 Jan: How to know the latest rate?
Keep in mind that IBJA does not release rates on Saturdays and Sundays, as well as on government holidays. You can also easily check the retail price of gold on your mobile phone. Simply give a missed call to 8955664433 and you will receive a message immediately. You will also receive complete gold price information via SMS.
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