CHENNAI: Gold, which rose by Rs 1,520 on February 11 evening, has now dipped by Rs 1,520 on Thursday (February 12). The price drop comes as the US dollar strengthened following stronger-than-expected January jobs data, which reduced expectations of early interest rate cuts. Investors are now awaiting US inflation data due on Friday for further signals on policy.
The shiny metal is now priced at Rs 1,16,800 per sovereign (8 grams) and Rs 14,600 per gram, down by Rs 190.
On February 11 evening, 22-carat gold was priced at Rs 1,18,320 per sovereign and Rs 14,790 per gram.
Meanwhile, silver prices remained unchanged for the third day at Rs 300 per gram (Rs 3,00,000 per kg).
Gold prices fell because strong US jobs data for January 2026, which were released on Wednesday, 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 63,520 per sovereign (Rs 7,940 per gram) on February 12, 2025, to Rs 1,16,800 per sovereign (Rs 14,600 per gram) on February 12, 2026, marking an increase of Rs 53,280, or about 83.8%.
February 11, 2026: 1 Sovereign- Rs 1,18,320 | 1 gram- Rs 14,790
February 10, 2026: 1 Sovereign- Rs 1,16,640 | 1 gram- Rs 14,580
February 9, 2026: 1 Sovereign- Rs 1,17,200 | 1 gram- Rs 14,650
February 7, 2026: 1 Sovereign- Rs 1,15,360 | 1 gram- Rs 14,420
February 6, 2026: 1 Sovereign- Rs 1,14,000 | 1 gram- Rs 14,250
February 11, 2026: 1 gram- Rs 300
February 10, 2026: 1 gram- Rs 300
February 9, 2026: 1 gram- Rs 300
February 7, 2026: 1 gram- Rs 285
February 6, 2026: 1 gram- Rs 280