CHENNAI: A day after a dip in prices, gold surged by Rs 3,600 per sovereign and entered the Rs 1.17 lakh bracket on January 23 (Friday), marking an all-time high.

22-carat gold is now priced at Rs 1,17,200 per sovereign (8 grams) and Rs 14,650 per gram, after rising by Rs 450.

Yesterday, on January 22, the shiny metal was selling for 1,13,600 per sovereign (Rs 14,200 per gram).

Gold rate today vs gold rate on this day, last year

Gold remains significantly higher compared to last year. Prices have surged from Rs 60,200 per sovereign (Rs 7,525 per gram) on January 23, 2025, to Rs 1,17,200 per sovereign (Rs 14,650 per gram) on January 23, 2026, marking an increase of Rs 57,000, or about 94.6%.

Silver surges

Meanwhile, silver prices increased by Rs 20 to sell for a record Rs 360 per gram (Rs 3,60,000 per kg) on January 23. A gram had cost Rs 340 per gram on January 22 (yesterday).

Why is gold price on the rise?

Explaining the relentless rise of gold in January, veteran jeweller Jayantilal Challani, president of Jewellers and Diamond Traders Association of Madras, said, “The current surge is primarily due to increased global uncertainty stemming from the Greenland crisis/tax rate tensions and overall risk-averse sentiment. Geopolitical tensions and fears over trade war affect the rate, as investors prefer safe-haven assets like gold.”

Gold price (22-carat) over the last five days:

January 22, 2026: 1 Sovereign- Rs 1,13,600 | 1 gram- Rs 14,200

January 21, 2026: 1 Sovereign- Rs 1,15,320 | 1 gram- Rs 14,415

January 20, 2026: 1 Sovereign- Rs 1,11,200 | 1 gram- Rs 13,900

January 19, 2026: 1 Sovereign- Rs 1,07,600 | 1 gram- Rs 13,450

January 17, 2026: 1 Sovereign- Rs 1,06,240 | 1 gram- Rs 13,280

Silver price over the last five days:

January 22, 2026: 1 gram- Rs 340

January 21, 2026: 1 gram- Rs 345

January 20, 2026: 1 gram- Rs 340

January 19, 2026: 1 gram- Rs 318

January 17, 2026: 1 gram- Rs 310