Gold Prices Fell from Record High on January 22: Spot Gold Slipped ~100 Ounces

Gold prices retreated on Thursday (January 22) after a strong safe-haven rally earlier in the week, as global risk sentiment improved and the US dollar firmed up, triggering profit-booking by investors.

In overseas markets, spot gold slipped nearly $100 per ounce to about $4,790, retreating from its record high of around $4,887 per ounce. The correction coincided with a recovery in equity markets and easing volatility.

In the domestic market, bullion had surged sharply a day earlier. In Delhi, gold of 99.9% purity jumped ₹6,500 to ₹1.59 lakh per 10 grams (inclusive of taxes), according to the All India Sarafa Association. Silver also scaled a fresh record, rising to ₹3.34 lakh per kg.

What’s Weighing on Gold Today?

The demand for defensive assets moderated after US President Donald Trump struck a more conciliatory tone on trade, softening his position on tariffs and ruling out the use of force over Greenland. This helped ease concerns of a potential clash with NATO allies and reduced immediate geopolitical anxiety.

Geopolitical Risks and Macro Uncertainty Remain Supportive

Analysts noted that despite the latest pullback, lingering geopolitical tensions and broader macroeconomic uncertainty continue to underpin gold’s bullish trend.

Also Read: Gold, Silver ETFs Hit Record Highs: Prices Surge Up to 8% as Investors Rush to Safe Havens

ETF Participation Rises as Prices Scale New Highs

As per market experts, the record-high gold prices have spurred increased investor participation through regulated instruments. Investors are raising allocations via lump-sum investments and systematic investment plans (SIPs) in gold ETFs.

Rupee Weakness Boosts Domestic Prices

A softer rupee has further amplified gains in local gold prices, adding to the overall momentum in the domestic bullion market.

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