Gold prices stay near record highs in global and domestic markets; check rates in your city

The Augmont Bullion report, published on January 13, noted that gold has decisively broken above its earlier resistance at $4,570, opening the door to higher levels.

• Gold prices continues to surge at peak levels amid geopolitical tensions and Fed rate cut hopes
• Spot gold reached $4,642.9 on Jan 13; MCX futures peaked at Rs 1,42,949
• Market remains volatile ahead of US CPI data and Fed policy decisions

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The price of gold continues to surge at peak levels amid geopolitical tensions and hopes of another Fed rate cut. The spot price on Comex was $4,626.40 on January 14 (03:36 am GMT), representing a 0.59 percent gain from its previous close. The price of precious metal surged to an all-time high at $4,642.9 on January 13.

On MCX, the futures price opened the Wednesday session at Rs 1,42,699 for 10 grams of 24-carat purity, and continued to trade flat at Rs 1,42,801, representing 0.39 percent increase from its previous close at Rs 1,42,241. The domestic price of gold peaked at Rs 1,42,949 on January 13.

"Gold prices are trading in a highly volatile range. Market participants remain cautious ahead of the US CPI data due later this evening, a key input for the Fed’s upcoming policy decisions. While the broader trend remains positive, gold is trading in overbought territory, keeping volatility elevated," said Jateen Trivedi, VP Research Analyst (Commodity and Currency) at LKP Securities.

Gold prices vary by 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)

Outlook: Will gold continue its momentum?

The Augmont Bullion report, published on January 13, noted that gold has decisively broken above its earlier resistance at $4,570, opening the door to higher levels. The next key targets are $4,745–4,750 (78.6% Fibonacci extension, Rs 1,46,000) and $4,966–4,970 (100% Fibonacci extension, Rs 1,52,500).

Here are the key developments that are driving the price of precious metals, according to the Augmont report:

• Market sentiment was rattled after U.S federal prosecutors reportedly threatened action against Fed Chair Jerome Powell over comments made to Congress regarding a building renovation project. Powell has described the move as a “pretext” aimed at pressuring the central bank to cut interest rates, raising serious concerns about policy independence.
• Geopolitical risks continue to mount, with the US stepping up its involvement in Venezuela, President Donald Trump warning of possible military action amid unrest in Iran, ongoing conflict in Ukraine, tensions between China and Japan, and renewed insistence by the White House on acquiring Greenland. Adding to the uncertainty, Trump warned that any country doing business with Iran could face a 25 percent tariff on all the US trade.
• The US officials also confirmed that President Trump will be briefed on Tuesday on potential responses to Iran, including sanctions, cyber measures, and military options—keeping global risk sentiment fragile and supportive for precious metals.