CHENNAI: Gold prices continued their downward slide for a third day in a row, dropping by Rs 720 on Wednesday (February 18).
The yellow metal is now priced at Rs 1,13,840 per sovereign (8 grams), and Rs 14,230 per gram, a fall of Rs 90.
The shiny metal was priced at Rs 1,14,560 per sovereign (8 grams) and Rs 14,320 per gram on February 17.
The price drop comes as the US dollar strengthened following stronger-than-expected January jobs data, which reduced expectations of early interest rate cuts.
Silver also witnessed a fall by Rs 5 to Rs 260 per gram (Rs 2,60,000 per kg) on February 18.
Gold prices fell because strong US jobs data for January 2026, which were released last week, reduced expectations of interest rate cuts, meaning rates may stay higher for longer, which strengthens the dollar, and in turn, makes gold slightly less attractive to investors, since it does not earn interest.
Gold remains significantly higher compared to last year. Prices have surged from Rs 63,760 per sovereign (Rs 7,970 per gram) on February 18, 2025, to Rs 1,13,840 per sovereign (Rs 14,230 per gram) on February 18, 2026, marking an increase of Rs 50,080, or about 78.5%.
February 17, 2026: 1 Sovereign- Rs 1,14,560| 1 gram- Rs 14,320
February 16, 2026: 1 Sovereign- Rs 1,15,520| 1 gram- Rs 14,440
February 14, 2026: 1 Sovereign- Rs 1,16,480| 1 gram- Rs 14,560
February 13, 2026: 1 Sovereign- Rs 1,15,200| 1 gram- Rs 14,400
February 12, 2026: 1 Sovereign- Rs 1,16,800 | 1 gram- Rs 14,600
February 17, 2026: 1 gram- Rs 265
February 16, 2026: 1 gram- Rs 265
February 14, 2026: 1 gram- Rs 280
February 13, 2026: 1 gram- Rs 280
February 12, 2026: 1 gram- Rs 300