CHENNAI: Gold prices plunged by Rs 400 on January 8 (Thursday), but continued to stay in the Rs 1.02 lakh bracket. The yellow metal is being sold for Rs 1,02,000 per sovereign (8 grams) and Rs 12,750 per gram, down by Rs 50.
On January 7, the rate of 22-carat gold was Rs 1,02,400 per sovereign and Rs 12,800 per gram.
Gold remains significantly higher compared to last year. Prices have surged from Rs 57,800 per sovereign (Rs 7,225 per gram) on January 8, 2025, to Rs 1,02,000 per sovereign (Rs 12,750 per gram) on January 8, 2026 evening, marking an increase of Rs 44,200, or about 76%.
Meanwhile, silver prices decreased by Rs 5 to sell for Rs 272 per gram (Rs 2,72,000 per kg) on January 8. A gram had cost Rs 277 yesterday.
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 7, 2026: 1 Sovereign- Rs 1,02,400 | 1 gram- Rs 12,800
January 6, 2026: 1 Sovereign- Rs 1,02,640 | 1 gram- Rs 12,830
January 5, 2026: 1 Sovereign- Rs 1,02,080 | 1 gram- Rs 12,760
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
Silver price over the last five days:
January 7, 2026: 1 gram - Rs 277
January 6, 2026: 1 gram - Rs 271
January 5, 2026: 1 gram - Rs 266
January 3, 2026: 1 gram - Rs 257
January 2, 2026: 1 gram - Rs 260