CHENNAI: Gold, after a fall of Rs 520 the previous day, has risen again to set a new record, reaching the Rs 1.22 lakh mark on January 28.
The shiny metal has surged by Rs 2,960 per sovereign to be priced at Rs 1,22,640 per sovereign (8grams) and Rs 15,330 per gram, a rise of Rs 350.
On January 27, gold was priced at Rs 1,19,680 per sovereign and Rs 14,960 per gram.
Gold remains significantly higher compared to last year. Prices have surged from Rs 60,080 per sovereign (Rs 7,510 per gram) on January 28, 2025, to Rs 1,22,640 per sovereign (Rs 15,330 per gram) on January 28, 2026, marking an increase of Rs 62,560, or about 104.1%.
Meanwhile, silver prices increased by Rs 13 to sell for a record Rs 400 per gram (Rs 4,00,000 per kg) on January 28. A gram had cost Rs 387 per gram on January 27.
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 27, 2026: 1 Sovereign- Rs 1,19,680 | 1 gram- Rs 14,960
January 26, 2026: 1 Sovereign- Rs 1,20,200 | 1 gram- Rs 15,025
January 24, 2026: 1 Sovereign- Rs 1,16,400 | 1 gram- Rs 14,650
January 23, 2026: 1 Sovereign- Rs 1,16,400 | 1 gram- Rs 14,550
January 22, 2026: 1 Sovereign- Rs 1,13,600 | 1 gram- Rs 14,200
January 27, 2026: 1 gram- Rs 387
January 26, 2026: 1 gram- Rs 376
January 24, 2026: 1 gram- Rs 355
January 23, 2026: 1 gram- Rs 345
January 22, 2026: 1 gram- Rs 340