CHENNAI: Gold became cheaper by Rs 480 per sovereign on January 16, 2026. The yellow metal is now priced at Rs 1,05,840 per sovereign (8 grams) and Rs 13,230 per gram, a fall of Rs 60.
On January 15, 22-carat gold was priced at Rs 1,06,320 per sovereign (8 grams) and Rs 13,290 per gram.
Gold remains significantly higher compared to last year. Prices have surged from Rs 59,120 per sovereign (Rs 7,390 per gram) on January 16, 2025, to Rs 1,05,840 per sovereign (Rs 13,230 per gram) on January 16, 2026, marking an increase of Rs 46,720, or about 79%.
Meanwhile, silver prices decreased by Rs 4 to sell for a record Rs 306 per gram (Rs 3,06,000 per kg) on January 16. A gram had cost Rs 310 per gram on Thursday (January 15).
After a record 2025 rally, the strongest for gold since 1979, geopolitical tensions from Venezuela to Iran and Greenland and fading hopes of a quick end to the Russia-Ukraine war have lifted demand for both precious metals. Questions over Fed independence have added to market uncertainty after the Trump administration launched a criminal investigation against Federal Reserve chair Jerome Powell, prompting central bank chiefs worldwide to voice support for him.
Market focus now shifts to the US Federal Reserve's January 27-28 meeting, where rates are expected to remain unchanged.
January 15, 2026: 1 Sovereign - Rs 1,06,320 | 1 gram - Rs 13,290
January 14, 2026: 1 Sovereign - Rs 1,06,240 | 1 gram - Rs 13,280
January 13, 2026: 1 Sovereign - Rs 1,05,360 | 1 gram - Rs 13,170
January 12, 2026: 1 Sovereign - Rs 1,04,960 | 1 gram- Rs 13,120
January 10, 2026: 1 Sovereign- Rs 1,03,200 | 1 gram- Rs12,900
January 15, 2026: 1 gram- Rs 310
January 14, 2026: 1 gram- Rs 307
January 13, 2026: 1 gram- Rs 292
January 12, 2026: 1 gram- Rs 287
January 10, 2026: 1 gram- Rs 275