Gold and silver prices slumped in international markets on Friday, after a blistering rally through January that saw multiple record highs, as investors rushed to lock in profits amid speculation that a more hawkish chair would soon head the US Federal Reserve. In New Delhi, pure gold of 99.9 per cent purity plunged by ₹14,000, or 7.65 per cent, to ₹1,69,000 per 10 grams. Silver prices tumbled by ₹20,000, or nearly 5 per cent, to ₹3,84,500 per kg, after having surged ₹19,500 to a record ₹4,04,500 per kg on Thursday. Gold and silver exchange-traded funds also witnessed sharp declines in the domestic market. However, the World Gold Council expects investment demand to remain firm in 2026, citing gold’s role as an all-weather hedge going forward.

Source: The Telegraph January 31, 2026 02:34 UTC