Gold falls 4% to Rs 1,67,800 as dollar gains strength

• Gold price in India dropped over 4%, reaching Rs 1,67,800 per 10g on Jan 30.
• Domestic gold prices fell more than international rates, raising parity concerns.
• Gold may consolidate between $5,150-$5,500 before resuming uptrend, report says

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The Indian Bullion Jewellers Association pegged the gold price at Rs 1,67,800 per 10 grams of 24-carat purity at its 12:30 pm rate session on January 30. The metal's price is 4.34 percent dwon from its previous close at Rs 1,75,416, due to a firmer US dollar.

On MCX, the price dipped 3.83 percent to Rs 1,76,910 at 1.10 pm. On January 29, 2026, domestic gold prices hit a record Rs 1,93,096 after the US Federal Reserve held interest rates steady.

On Comex, gold fell to $5,159 an ounce, a 2.99 percent decline from its previous close as the market reacted to a resurgent dollar.

Check the prices of gold as of January 30, 2026:

Why is gold prices falling?

The Augmont Bullion report, published on January 29, said gold prices declined, weighed down by a firmer US dollar, but remained on track for their strongest monthly gain since 1980, as investors continued to seek safety amid ongoing geopolitical and economic uncertainty.

"Gold demand is broadening across investor classes, ranging from crypto-linked capital flows to central banks, as precious metals remain in focus during periods of high returns and uncertainty," the report stated.

It noted that geopolitical risks intensified further after President Trump urged Iran to negotiate a nuclear deal, while Tehran responded with threats of retaliation against the US, Israel, and their allies.

According to the report, gold prices can consolidate here in the range of $5,150 to $5,500 before resuming its uptrend towards $5,800–6,000 (Rs 1,87,000–1,95,000). Strong support lies at $5,150 (Rs 1,60,000); a break could trigger profit-booking toward $5,000–$4,750.