Big explosion in gold and silver prices in UP, silver crosses Rs 4 lakh for the first time, gold near ₹ 1.80 lakh

News India Live, Digital Desk: In the bullion markets across the country including Uttar Pradesh today i.e. 29 January 2026 Gold and silver prices have destroyed all previous records. As soon as the market opens on Thursday, where gold More than ₹12,000 There was a rise in price, while silver made a historic rise. ₹4 lakh per kg Has crossed the psychological level of.

This “fire” in prices just before the wedding season has driven away common buyers from the markets, due to which the bullion markets appear deserted.

Today’s price in major cities of UP (24 carat gold)

Gold prices have touched new peaks in big cities of Uttar Pradesh:

New record for silver:

Today’s Quote: ₹3,99,000 – ₹4,03,000 per kg (in different cities).

Edge: compared to yesterday approximately ₹39,000 per kg The huge speed of.

4 main reasons for this ‘historic’ surge in prices

According to experts, global and domestic conditions are responsible for this storm in the bullion market:

US Federal Reserve’s decision: The US Fed has decided to keep the interest rates stable, due to which the inclination of investors has increased towards safe haven i.e. gold and silver.

Geopolitical Tensions: Rising tensions between the US and Iran in the Gulf region and the continuation of the Russia-Ukraine crisis have created uncertainty in the global market.

Dollar weakness: The US dollar has reached its lowest level in 4 years in the international market. When the dollar weakens, gold prices naturally rise.

Wedding season: The wedding season is about to begin in India, due to which a huge increase in the demand for physical gold is being seen.

Market condition: Buyers missing, jewelers worried

There is silence in the bullion markets after the prices reached this level:

Out of reach of common man: Buying gold has now become a big challenge for middle class families.

Jewelers say: According to local jewelers of Varanasi and Lucknow, people are coming only to ask for prices, purchases are being made to a negligible extent. The number of people selling or exchanging old jewelery may increase.

Investors’ Silver: Those who had invested earlier got almost Rs. ₹1 lakh per kg Profit of up to Rs.Expert Advice: There is extreme volatility in the market. Experts believe that gold prices will soon ₹2 lakh So the strategy of ‘buy on dips’ may be right for long term investors.