CHENNAI: Gold prices in the city surged for the second time on Monday (January 5). In the evening session, 22-carat gold rose by Rs 640 per sovereign, taking the price to Rs 1,02,080 per sovereign and Rs 12,760 per gram, up by Rs 80.

Earlier on Monday, gold was priced at Rs 1,01,440 per sovereign (Rs 12,680 per gram) after rising by Rs 640. This followed its January 3 rate of Rs 1,00,800 per sovereign and Rs 12,600 per gram.

Taken together, gold prices jumped by Rs 1,280 per sovereign, or Rs 160 per gram, in a single day.

Gold remains significantly higher compared to last year. Prices have surged from Rs 57,720 per sovereign (Rs 7,215 per gram) on January 4, 2025, to Rs 1,02,080 per sovereign (Rs 12,760 per gram) on January 5, 2026, marking an increase of Rs 44,360, or about 77%.

Meanwhile, silver prices also increased by Re 1 to sell for Rs 266 per gram (Rs 2,65,000 per kg) on January 5 evening. Earlier this morning, silver had cost Rs 265 per gram.

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 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

December 31, 2025: 1 sovereign-Rs 99,480 | 1 gram- Rs 12,480

December 30, 2025: 1 sovereign-Rs 1,00,800 | 1 gram- Rs 12,600

Silver price over the last five days:

January 3, 2026: 1 gram - Rs 257

January 2, 2026: 1 gram - Rs 260

January 1, 2026: 1 gram - Rs 256

December 31, 2025: 1 gram - Rs 257

December 30, 2025: 1 gram - Rs 258