CHENNAI: Gold prices in the city continued to surge on Wednesday (January 7). The yellow metal rose by Rs 320 to sell for Rs 1,02,960 per sovereign (8 grams) and Rs 12,870 per gram, after a rise of Rs 40.

On January 6, the rate of 22-carat gold was Rs 1,02,640 per sovereign and Rs 12,830 per gram.

Gold remains significantly higher compared to last year. Prices have surged from Rs 57,720 per sovereign (Rs 7,215 per gram) on January 7, 2025, to Rs 1,02,960 per sovereign (Rs 12,960 per gram) on January 7, 2026, marking an increase of Rs 45,240, or about 78.3%.

Meanwhile, silver prices increased by Rs 12 to sell for Rs 283 per gram (Rs 2,83,000 per kg) on January 7.

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.

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

January 6, 2026: 1 Sovereign- Rs 1,02,640 | 1 gram- Rs 12,830

January 5, 2026: 1 Sovereign- Rs 1,02,080 | 1 gram- Rs 12,760

January 3, 2026: 1 Sovereign- Rs 1,00,800 | 1 gram- Rs 12,600

January 2, 2026: 1 Sovereign- Rs 1,00,640 | 1 gram- Rs 12,580

January 1, 2026: 1 Sovereign- Rs 99,520 | 1 gram- Rs 12,440

Silver price over the last five days:

January 6, 2026: 1 gram - Rs 271

January 5, 2026: 1 gram - Rs 266

January 3, 2026: 1 gram - Rs 257

January 2, 2026: 1 gram - Rs 260

January 1, 2026: 1 gram - Rs 256