CHENNAI: A day after a Rs 4,120 jump, gold prices plummeted by Rs 1,720 and re-entered the Rs 1.13 lakh bracket on January 22 (Thursday). 22-carat gold is now priced at Rs 1,13,600 per sovereign (8 grams) and Rs 14,200 per gram, marking an decrease of Rs 215.
Yesterday, on January 21, the shiny metal was selling for 1,15,320 per sovereign (Rs 14,415 per gram).
Gold remains significantly higher compared to last year. Prices have surged from Rs 60,200 per sovereign (Rs 7,525 per gram) on January 22, 2025, to Rs 1,13,600 per sovereign (Rs 14,200 per gram) on January 22, 2026, marking an increase of Rs 53,400, or about 88.7%.
Meanwhile, silver prices decreased by Rs 5 to sell for a record Rs 340 per gram (Rs 3,40,000 per kg) on January 22. A gram had cost Rs 345 per gram on January 21 (yesterday).
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.”
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
January 16, 2026: 1 Sovereign- Rs 1,05,840 | 1 gram- Rs 13,230
Silver price over the last five days:
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
January 16, 2026: 1 gram- Rs 306