CHENNAI: Gold, after crossing the Rs 1.34 lakh mark the previous day, has dropped by Rs 4800 on January 30, 2026 (Friday). The shiny metal now costs Rs 1,29,600 per sovereign (8grams), and Rs 16,200 per gram, a fall of Rs 600.
On January 28, gold was priced at Rs 1,34,400 per sovereign and Rs 16,800 per gram.
Gold rate today vs gold rate on this day, last year
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 1,29,600 per sovereign (Rs 16,200 per gram) on January 30, 2026, marking an increase of Rs 68,720, or about 112.8%.
Silver surge
Meanwhile, silver prices decreased to Rs 415 per gram (Rs 4,15,000 per kg) on January 30. A gram had cost Rs 425 per gram on January 29.
Why are gold and silver prices on the rise?
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.
Gold price (22-carat) over the last five days:
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
Silver price over the last five days:
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