Gold Prices Edge Up Amid Geopolitical Tensions on 3 January 2026

The Indian gold market on January 3, 2026, witnessed a general upward movement in prices, though with characteristic volatility seen at the start of the new year. While many cities like Delhi, Mumbai, and Chennai reported an increase, there was a notable exception in Visakhapatnam where rates reportedly slashed, highlighting the regional variations in pricing. This slight but noticeable edge up in gold prices comes amidst broader market swings, keeping both investors and jewelry shoppers keenly observing the daily rates for 18, 22, and 24-carat gold.

Specifically, 24-carat gold was noted at ₹13,621 per gram in some reports, reflecting the day's positive momentum. In contrast, silver prices experienced a marginal slip, diverging from gold's upward trajectory. This dynamic start to 2026 suggests that while gold maintains its allure, the precious metals market will continue to be characterized by sharp swings. Daily updates on prices across major Indian cities remain crucial for consumers planning purchases or investments.

A significant global event influencing today's gold market was the reported US attacks on Venezuela. Such geopolitical developments typically enhance gold's appeal as a safe-haven asset, prompting investors to flock to the yellow metal amidst uncertainty. This heightened demand, coupled with the existing market volatility, likely contributed to gold's positive movement. The implications of this conflict are also being closely watched for their potential impact on crude oil prices and the broader Indian stock market.

Looking ahead, the outlook for gold in 2026 remains overwhelmingly positive, despite the initial volatility. Market predictions suggest that gold prices could see a significant surge throughout the year, with some bold forecasts even hinting at gold touching ₹2 lakh per 10 grams. For Indian investors and jewelry buyers, it's advisable to stay informed about global events and market trends. While the long-term outlook is bullish, short-term fluctuations are inevitable, making careful timing and continuous monitoring of prices in cities like Chennai, Mumbai, Delhi, and Kolkata essential for making informed decisions.