By vmg@gmail.com 
After touching lifetime highs, gold and silver prices witnessed a sharp correction on Thursday, January 22, as investors opted for profit booking amid softening global geopolitical tensions.
In the domestic market, both precious metals declined significantly from their peak levels, ending a strong multi-day rally that had been driven by safe-haven demand.
💰 Gold & Silver Rates in Delhi (Latest)
| Metal | Latest Price | Change | Previous Record |
|---|---|---|---|
| Gold (24K) | ₹1,57,200 / 10g | ▼ ₹2,500 (-1.5%) | ₹1,59,700 |
| Silver | ₹3,20,000 / kg | ▼ ₹14,300 (-4.3%) | ₹3,34,300 |
Source: All India Sarafa Association
🌍 International Market Snapshot
| Metal | Overseas Price | Record High |
|---|---|---|
| Spot Gold | $4,822.65 / oz | $4,888.22 |
| Spot Silver | $93.36 / oz | $95.89 |
Gold hit a global record of $4,888.22 per ounce on January 21 before cooling off, while silver retreated after touching a historic peak earlier this week.
❓ Why Did Gold and Silver Prices Fall Today?
Several factors triggered the decline in precious metals:
🔹 1. Profit Booking at Record Levels
After a sharp rally since the start of 2026, investors chose to lock in gains, leading to selling pressure in both gold and silver.
🔹 2. Easing Geopolitical Tensions
Markets reacted positively after US President Donald Trump softened his stance on imposing tariffs on European nations and indicated progress on a Greenland-related deal. Reduced geopolitical risk weakened safe-haven demand.
🔹 3. Fall in Gold & Silver ETFs
Precious metal ETFs dropped by up to 15%, amplifying volatility. ETFs tend to react faster and sharper than physical bullion during sentiment shifts.
🔹 4. Softer Global Cues
A mild decline in global bond yields and improved risk sentiment also contributed to the pullback in gold prices.
“Easing geopolitical risk sentiment triggered partial profit booking in domestic markets,”
— Jateen Trivedi, VP Research, LKP Securities (via PTI)
📊 Gold & Silver Futures (MCX)
| Contract | Latest Low | Record High |
|---|---|---|
| Gold (Feb) | ₹1,48,777 / 10g | ₹1,58,475 |
| Silver (Mar) | ₹3,04,039 / kg | ₹3,35,521 |
Both futures saw sharp intraday corrections after hitting historic peaks on Wednesday.
🔮 What’s Next for Gold and Silver?
Experts believe volatility will remain high in the near term due to:
- Upcoming US inflation data
- Bank of Japan monetary policy decision
- Global geopolitical developments
- Possible import duty changes in India’s Union Budget
“Concerns may have eased temporarily, but underlying risks still support gold on dips,”
— Praveen Singh, Mirae Asset Sharekhan
📌 Key Takeaways for Investors
- Short-term correction driven by profit booking
- Long-term outlook remains constructive but volatile
- ETF investors should be cautious due to higher volatility
- Physical gold may find support at lower levels