CHENNAI: Gold After plunging by Rs 4,800 per sovereign in the morning, the price of gold has further dropped by Rs 2,800 in the afternoon session on January 30.
The shiny metal is now priced at Rs 1,26,800 per sovereign (8 grams), Rs 15,850 per gram, a fall of Rs 350.
Gold was priced at Rs 1,29,600 per sovereign (8grams) and Rs 16,200 per gram on January 30 morning.
Gold remains significantly higher compared to last year. Prices have surged from Rs 60,880 per sovereign (Rs 7,610 per gram) on January 30, 2025, to Rs 1,26,800 per sovereign (Rs 15,850 per gram) on January 30, 2026 afternoon, marking an increase of Rs 65,920, or about 108.2%.
Meanwhile, silver prices decreased by Rs 10 to be priced at Rs 405 per gram (Rs 4,05,000 per kg) on January 30 afternoon. A gram had cost Rs 415 per gram on January 30 morning.
Analysts said gold and silver prices are being driven higher by a weaker US dollar, rising geopolitical tensions, central bank buying, and heightened policy uncertainty under the Trump administration. President Donald Trump's remarks playing down concerns over the dollar, his indication that he would soon name a new Federal Reserve chair, and fresh tariff threats, including moves targeting Canada and higher duties on automobiles, pharmaceuticals and lumber, have unsettled markets.
Silver has also benefited from strong industrial demand from solar power, electric vehicles, data centres and electronics.
January 29, 2026: 1 Sovereign- Rs 1,34,400 | 1 gram- Rs 16,800
January 28, 2026: 1 Sovereign- Rs 1,24,880 | 1 gram- Rs 15,610
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 29, 2026: 1 gram- Rs 425
January 28, 2026: 1 gram- Rs 400
January 27, 2026: 1 gram- Rs 387
January 26, 2026: 1 gram- Rs 376
January 24, 2026: 1 gram- Rs 355
