Gold Scales New Peak on Jan 7; Rises for 5th Consecutive Session; Chennai, Hyderabad Gold Rates at Record High

Gold rates this morning experienced another surge for the 5th consecutive day in a row. After today's increase, gold rates in India have touched a fresh record high as the 24k gold price hit the 1.4 lakh per 10-gram mark. Over the last five sessions, gold prices have surged almost 43000 per 100 g because of heavy demand. The main reason behind this huge surge is the geopolitical tension arising after the capture of Venezuelan president Nicolas Maduro on January 3rd. The news caused the rise in spot gold prices, which also jumped sharply in the last few days, pushing Indian bullion prices to historic levels.

Gold and Silver Price On Jan 7th

Gold Rate In Hyderabad

On January 7th, 22-carat gold rates in Hyderabad today spiked by Rs. 600 to cost Rs. 127,850. Meanwhile, 24-carat gold now retails for Rs.139,480, which jumped by Rs.600. Just like that, 18-carat gold rates in Bangalore also rose by Rs. 490 to retail at Rs. 104,610 per 10 grams.

Silver Rate in Hyderabad

Hyderabad silver rates today also jumped sharply. Currently 1 kg of silver costs Rs. 283,000 after rising by Rs. 12,000. Similarly, 100 grams of silver in Bangalore today retails at Rs. 28,300 per 10 grams, which jumped by Rs. 1200.

Gold Prices in Chennai Today

Gold Rate in Chennai Today Experienced a huge jump for the second consecutive day. The 24-carat gold rate in Chennai jumped by Rs. 330 per 10 grams to cost Rs. 139,640, while the 22-carat gold rate in Chennai jumped by Rs. 300 and now retails at Rs. 128,000 per 10 grams.

Silver Price in Chennai

Just like in Hyderabad, silver rates in Chennai jumped massively and are now very close to 3 lakh per kg. 1 kg of silver now costs Rs. 283,000 after a big rise of Rs. 12,000, while 100 g of silver cost Rs. 28,300, which jumped by Rs. 1,200.

Outlook & Trends In The Market

According to analysts at IBJA, "Gold prices rose on Tuesday as traders looked beyond tensions in Venezuela toward a busy lineup of economic data in the US. Silver rallied for a third day. Spot gold climbed about 1.1% on Tuesday to trade above $4,495 an ounce, after gaining 2.7% in the previous session following the US capture of Venezuelan leader Nicolás Maduro, which injected fresh geopolitical uncertainty into markets. While the political landscape in the South American nation remains fragile, traders turned their attention to a slew of US economic data due this week - including the December jobs report due Friday.

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold and silver prices are steady after three days of gains, with traders looking beyond heightened geopolitical tensions to US economic data due this week," they further added.

Gold And Silver Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for February 5th, 2026, delivery experienced a fall of 0.62% and are currently trading at Rs. 138,220 per 10 grams. Similarly, the silver futures for the March 5th, 2026, expiry fell today by 1.47%, trading at Rs. 254,995 per kg at the time of writing.

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