Gold at peak performance amid geopolitical tensions and Fed rate cut cheer

Gold price today

• Gold price on Comex fell 0.80% from its peak, now at $4,602 per ounce.
• Domestic gold hit a record Rs 1,42,500 per 10g on Jan 12, now slightly lower.
• Geopolitical tensions and inflation continue to drive demand for gold.

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The price of gold on Comex dropped 0.80 percent from its peak performance of $4,639 to $4,602 per ounce on January 13 (3:08 am GMT), representing 0.26 percent decline from its previous close.

On MCX, the futures price opened the Tuesday session at Rs 1,41,775 for 10 grams of 24-carat purity, a 0.18 percent decline from its previous close at Rs 1,41,991. The gold price peaked at a record Rs 1,42,500 on the domestic market on January 12, 2026.

"Gold reaching all-time highs reflects a decisive shift in global risk positioning rather than a short-term anomaly.  This strength is notable given the USD Index holding close to 99, indicating that safe-haven demand remains firmly intact.

"Elevated geopolitical uncertainty, expanding global defense expenditure, and persistent inflation pressures— with US CPI projected at 2.7% year-on-year—continue to underpin flows into precious metals. In addition, tariff-led fiscal expansion estimated at $250–270 billion is reinforcing hedging demand. Structurally, the backdrop remains supportive, even if near-term consolidation unfolds," said Justin Khoo, Senior Market Analyst - APAC, VT Market.

Gold prices vary by purity. Check out below to see the prices of gold based on its purity

Gold Price Today (Rs)

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Gold Price In Indian Cities (Rs)

Why is gold volatile?

The Augmont Bullion report, published on January 12, noted gold surged to fresh record highs, $4,600 (Rs 1,40,000) driven by a mix of rising geopolitical tensions and growing expectations that the US Federal Reserve will be forced to cut interest rates further.

The gold boom began in mid-August, around $3,400 and reached $4,400 by mid-October. The prices then retraced and have been taking support from the uptrendline since. Gold has crossed its previous high resistance of $4,570. The next level to watch for is of $4,745-50 (78.6% fibbonnicci extension) and $4,966-70 (100% fibbonnicci extension), the report added.