CHENNAI: Gold prices continued their downward slide, dropping by Rs 960 on Tuesday (February 17).
The yellow metal is now priced at Rs 1,14,560 per sovereign (8 grams), and Rs 14,320 per gram, a fall of Rs 120.
The shiny metal was priced at Rs 1,15,520 per sovereign (8 grams) and Rs 14,440 per gram on February 16.
The price drop comes as the US dollar strengthened following stronger-than-expected January jobs data, which reduced expectations of early interest rate cuts.
Meanwhile, silver remains stable at Rs 265 per gram (Rs 2,65,000 per kg).
Gold prices fell because strong US jobs data for January 2026, which were released last week, reduced expectations of interest rate cuts, meaning rates may stay higher for longer, which strengthens the dollar, and in turn, makes gold slightly less attractive to investors, since it does not earn interest.
Gold remains significantly higher compared to last year. Prices have surged from Rs 63,520 per sovereign (Rs 7,940 per gram) on February 17, 2025, to Rs 1,14,560 per sovereign (Rs 14,320 per gram) on February 17, 2026, marking an increase of Rs 51,040, or about 80.3%.
February 16, 2026: 1 Sovereign- Rs 1,15,520| 1 gram- Rs 14,440
February 14, 2026: 1 Sovereign- Rs 1,16,480| 1 gram- Rs 14,560
February 13, 2026: 1 Sovereign- Rs 1,15,200| 1 gram- Rs 14,400
February 12, 2026: 1 Sovereign- Rs 1,16,800 | 1 gram- Rs 14,600
February 11, 2026: 1 Sovereign- Rs 1,18,320 | 1 gram- Rs 14,790
February 16, 2026: 1 gram- Rs 265
February 14, 2026: 1 gram- Rs 280
February 13, 2026: 1 gram- Rs 280
February 12, 2026: 1 gram- Rs 300
February 11, 2026: 1 gram- Rs 300
February 10, 2026: 1 gram- Rs 300