CHENNAI: Gold and silver hit all-time record prices on January 12 (Monday). The yellow metal surged by Rs 1,760, reaching the Rs 1.04 lakh bracket, taking the rate to Rs 1,04,960 per sovereign (8 grams) and Rs 13,120 per gram, up by Rs 220.

On January 10, the rate of 22-carat gold was Rs 1,03,200 per sovereign and Rs 12,900 per gram.

Gold remains significantly higher compared to last year. Prices have surged from Rs 58,520 per sovereign (Rs 7,315 per gram) on January 11, 2025, to Rs 1,04,960 per sovereign (Rs 13,120 per gram) on January 12, 2026, marking an increase of Rs 46,440, or about 79%.

Silver soars

Meanwhile, silver prices surged by Rs 12 to sell for Rs 287 per gram (Rs 2,87,000 per kg) on January 12. A gram had cost Rs 275 on Saturday(January 10).

After a record rally in 2025, when gold marked its steepest annual rise since 1979, gold and silver are expected to remain firm in 2026, supported by global rate-cut expectations, safe-haven demand amid continuing geopolitical tensions, and steady industrial consumption. Market focus is now on the US Federal Reserve’s January 27–28 meeting, where interest rates are expected to remain unchanged.