Gold prices today, January 12: Check rates in Mumbai, Delhi and other cities

The price of 24carat gold fell Rs 10 in early trade on Monday with ten grams of the precious metal trading at Rs 140450 The price of silver also dropped by Rs 100 with one kilogram of the precious metal selling at Rs 259900The price of 22carat gold declined by Rs 10 with ten grams of the yellow metal selling at Rs 128740The price of ten grams of 24carat gold stood at Rs 140450 in Mumbai and Kolkata and Rs 139640 in ChennaiIn Delhi the price of ten grams of 24carat gold stood at Rs 140600In Mumbai the price of ten grams of 22carat gold was Rs 128740 the same as in Kolkata Bengaluru Hyderabad and Rs 128990 in ChennaiIn Delhi the price of ten grams of 22carat gold stood at Rs 128890The price of one kilogram of silver in Delhi Kolkata and Mumbai stood at Rs 259900The price of one kilogram of silver in Chennai stood at Rs 274900MCX silver may hit Rs 32 lakh in 2026 ReportMeanwhile after a sharp 170 per cent rally in MCX silver prices last year domestic brokerage firm Motilal Oswal believes the white metal still has enough strength to continue its recordbreaking run in 2026 Silver emerged as the bestperforming precious metal in 2025 beating not just gold but also most major asset classesIn its latest report Motilal Oswal said the strong rise in silver and gold prices was driven by a mix of global factors such as rising geopolitical tensions trade uncertainties easier monetary policies strong inflows into exchangetraded funds supply constraints and growing demand for safehaven assetsMotilal Oswal has pegged its 2026 target for MCX silver at Rs 320 lakh per kilogram with a risknegation level set at Rs 140 lakhBased on the current price of around Rs 252 lakh this suggests a potential upside of nearly 27 per centA steady decline in exchange inventories also added fuel to the rally The brokerage noted that its earlier price targets were achieved much faster than expectedAt the beginning of 2025 it had projected gold to reach Rs 84000 and silver to hit Rs 110000 by the end of the yearHowever gold touched Rs 84000 in the first quarter itself and later surged to a record high of Rs 140465Silver crossed Rs 88000 by the second quarter and went on to hit an alltime high of Rs 254000 more than doubling the brokeragersquos initial estimateMotilal Oswal said silver clearly outperformed gold due to its unique dual role as both a precious metal and an industrial metalWhile global uncertainty boosted its safehaven appeal rising industrial usage gave silver an additional pushThe brokerage pointed out that industrial demand for silver reached its secondhighest level on record in 2025 supported by rapid growth in solar power installations electric vehicles electrification and higher investments in power grid infrastructureThis strong demand kept the silver market in a structural deficit for the fifth straight year with consumption consistently exceeding supplyAccording to the report this imbalance led to brief periods of backwardation in prices a rare situation that signals tight physical availability in the marketWith inputs from Agencies