Gold Rate in India, Jan 4: 24K, 22K Prices Pause Near Record Levels Amid US-Venezuela Tensions

This week has been exceptionally bearish for the bullion market as gold rate in India fell from all-time highs, which was good news for retail buyers who were under massive pressure. Despite the fall, the 24-carat gold price in India and the 22-carat gold rate still hovered near a record, which was difficult for gold buyers across major cities like Delhi, Mumbai, Chennai, and Kolkata.

However, the fresh geopolitical tension which arose yesterday between us and Venezuela is expected to impact the global gold prices. US-Venezuela escalation is expected to be bullish for gold in the near term, mainly through safe‑haven demand and a weaker dollar.

The US, on Jan 3rd, carried out strikes in Venezuela and captured President Nicolás Maduro, sharply raising geopolitical risk at the very start of 2026.

As per reports and expectations, gold is expected to open higher on Monday, along with crude and silver, when markets reopen, as the Venezuela raid adds to an already strong safe‑haven bid; India will import at these higher global levels, passing through to MCX and retail prices.

Gold Prices in India Today

On Sunday, the 22 karat gold rate in India steadied at yesterday's rate to cost Rs. 1,24,500 per 10 grams. While the 24-carat gold prices today are at Rs. 1,35,820 per 10 grams. Similarly, the 18-carat gold rate today retails at Rs 1,01,870.

In a similar line, the 100 grams of 22-carat gold stand at Rs 12,45,000. The 24-carat gold price in India per 100 grams is now retailing at Rs. 13,58,200.

MCX Gold and Silver Futures Update

Trading on the MCX is closed on Sunday, so gold futures prices on the Multi Commodity Exchange (MCX), expected to mature on February 5, closed at Rs 1,35,752. Similarly, silver futures, with an expiry date of March 5, settled at Rs 2,36,599.

City-Wise Gold Rates Today

Major metropolitan cities in India, including Chennai, Mumbai, Bangalore, and Hyderabad, mirrored the gold rates in India. Here's the latest city-wise update on 22-carat and 24-carat gold rates on 4th Jan

In Chennai, the 24-carat gold rate stands at Rs. 1,35,820 per 10 grams, while the 22-carat gold price in Chennai is Rs. 1,24,500 per 10 grams.

In Bangalore, the gold rate for 24-carat is Rs. 1,35,820 per 10 grams, and the 22-carat gold rate in Bangalore is Rs. 1,24,500 per 10 grams.

In Hyderabad, the 24K gold price is Rs. 1,35,820 per 10 grams, and the 22K gold rate in Hyderabad is Rs. 1,24,500 per 10 grams.

In Mumbai, the 22-carat gold rate is Rs. 1,24,500 per 10 grams, while the 24-carat gold price in Mumbai remains at Rs. 1,35,820 per 10 grams.

Silver Price Movement in India

Silver prices in India on Sunday, January 4th, showed no major movements, so 1kg of silver in India costs Rs.2,41,000. 100g of silver rates in India cost Rs 24,100.

Spot Gold Prices + Spot Silver Price Today

Reuters in its 2nd Jan report mentioned, "Spot gold was steady at $4,313.29 per ounce, as of 01:46 p.m. ET, (1846 GMT), after rising as high as $4,402.06 earlier in the session. U.S. gold futures for February delivery settled 0.3% lower at $4,329.6/oz. Spot silver advanced 0.7% to $71.77/oz."

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