Gold Prices Hit Record ₹1.6 Lakh: Market Recap for 26 January 2026

January 26, 2026, marked a truly historic Republic Day for gold investors and jewelry buyers in India, as the precious metal shattered all previous records. Gold prices soared to an unprecedented ₹1.6 lakh per 10 grams domestically, while on the international stage, the yellow metal majestically crossed the $5,000 per ounce mark for the very first time. This monumental surge has left market watchers and consumers alike buzzing about the future trajectory of gold.

The Multi Commodity Exchange (MCX) saw 24K gold quoted at ₹1,55,963 per 10 grams, reflecting the intense upward momentum. This record-breaking performance extended across various purities, with 22K, 24K, and 18K gold prices reaching new pinnacles in major Indian cities like Mumbai and Delhi. Silver, often seen as gold's companion, also experienced a significant rally, jumping 8% to near $110 an ounce internationally. Interestingly, reports highlighted that silver remains approximately 17% cheaper in India compared to China, prompting discussions on its relative value, though experts emphasize that silver is not merely 'cheap gold' and has its own distinct market dynamics.

The primary drivers behind this unprecedented rally are multifaceted. Strong safe-haven demand, fueled by global geopolitical uncertainties, has pushed investors towards the perceived security of gold. Additionally, continued buying by central banks worldwide has provided a robust floor and upward thrust to prices. Analysts widely agree that these factors suggest gold has more room to run, indicating sustained bullish sentiment. Even prominent financial commentators like Robert Kiyosaki have shared ambitious targets, suggesting a potential 5x return to $27,000, though such projections are highly speculative and should be viewed with caution.

For Indian investors and jewelry shoppers, navigating this record-high market requires careful consideration. While the allure of gold as a store of value remains strong, especially given its consistent performance amidst global volatility, potential buyers should monitor price fluctuations closely. Traders are keen to observe how the market performs post-Republic Day holidays, with many expecting continued momentum. Whether considering gold for investment diversification or for auspicious occasions, staying informed about global economic indicators and geopolitical developments will be crucial in making informed decisions in this exciting, yet volatile, gold market.