Chennai: Gold and silver prices dip on January 3, 2026; check details here

CHENNAI: Gold prices eased marginally in Chennai on January 3 (Saturday), a day after reclaiming the Rs 1 lakh milestone. According to jewellers, the price of 22-carat gold fell by Rs 480 per sovereign, following Friday’s rebound.

After the decline, 22-carat gold is priced at Rs 1,00,160 per sovereign (8 grams) and Rs 12,520 per gram, down by Rs 60.

On Friday (January 2), the yellow metal was sold at Rs 1,00,640 per sovereign and Rs 12,580 per gram

Despite the day’s dip, gold remains significantly higher compared to last year. Prices have surged from Rs 58,080 per sovereign (Rs 7,270 per gram) on January 3, 2025, to Rs 1,00,160 per sovereign (Rs 12,520 per gram) on January 3, 2026, marking an increase of Rs 42,080, or about 72%.

Meanwhile, silver prices also declined, falling by Rs 4 to sell for Rs 256 per gram (Rs 2,56,000 per kg) on Saturday. A day ago, silver had cost Rs 260 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 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

• December 29, 2025: 1 Sovereign- Rs 1,04,160 | 1 gram- Rs 13,020

Silver price over the last five days:

• 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

• December 29, 2025: 1 gram- Rs 281