CHENNAI: Gold surged by Rs 5,040 per sovereign (8 grams) on February 4.
The yellow metal is now priced at Rs 1,19,200 per sovereign and Rs 14,900 per gram, a rise of Rs 630.
On February 3, afternoon gold was priced at Rs 1,14,160 per sovereign and Rs 14,270 per gram.
Meanwhile, silver prices increased by Rs 20 to be priced at Rs 320 per gram (Rs 3,20,000 per kg) on February 4. A gram had cost Rs 300 per gram on February 3 afternoon.
Gold remains significantly higher compared to last year. Prices have surged from Rs 62,480 per sovereign (Rs 7,810 per gram) on February 4, 2025, to Rs 1,19,200 per sovereign (Rs 14,900 per gram) on February 4, 2026, marking an increase of Rs 56,720, or about 90.7%.
Silver cost Rs 106 per gram on February 4, 2025. By February 4, 2026, the price had risen to Rs 320 per gram, an increase of Rs 214 per gram.
Analysts said gold and silver prices have been volatile due to shifting global cues. While a weaker dollar, rising geopolitical tensions, central bank buying, and policy uncertainty under the Trump administration had earlier supported prices, the dollar strengthened after President Donald Trump nominated a new Federal Reserve chair, weighing on precious metals worldwide.
February 3, 2026: 1 Sovereign- Rs 1,14,160 | 1 gram- Rs 14,270
February 2, 2026: 1 Sovereign- Rs 1,11,600 | 1 gram- Rs 13,950
January 31, 2026: 1 Sovereign- Rs 1,19,200 | 1 gram- Rs 14,900
January 30, 2026: 1 Sovereign- Rs 1,26,800 | 1 gram- Rs 15,850
January 29, 2026: 1 Sovereign- Rs 1,34,400 | 1 gram- Rs 16,800
February 3, 2026: 1 gram- Rs 300
February 2, 2026: 1 gram- Rs 300
January 31, 2026: 1 gram- Rs 350
January 30, 2026: 1 gram- Rs 405
January 29, 2026: 1 gram- Rs 425