Chennai gold price picks up again, rises by Rs 2,560 per sovereign in a single day on Feb 3, 2026

Planning to buy gold today? Check out the latest gold rates in Chennai before you head to the jewellers

Image of a woman buying gold used for representative purposes(Photo: PTI)

Updated on:

03 Feb 2026, 11:05 am

CHENNAI: Gold prices rose sharply on February 3. In the morning, the rate increased by Rs 640 per sovereign to Rs 1,12,240 per sovereign and Rs 80 per gram to Rs 14,030 per gram.

By the evening, prices climbed further by Rs 1,920 per sovereign to Rs 1,14,160 per sovereign, and Rs 240 per gram to Rs 14,270 per gram.

Overall, gold prices soared by a total of Rs 320 per gram and Rs 2,560 per sovereign, over the course of the day.

Silver prices high

Similar to gold, silver prices also witnessed fluctuations during both the morning and evening sessions.

After recording a dip in the morning (Rs 280 per gram), silver rates have now increased by Rs 20 per gram, taking the price to Rs 300 per gram, while bar silver is being sold at Rs 3 lakh.

Gold rate today vs gold rate on this day, last year

Gold remains significantly higher compared to last year. Prices have surged from Rs 61,640 per sovereign (Rs 7,705 per gram) on February 3, 2025, to Rs 1,14,160 per sovereign (Rs 14,270 per gram) on February 3, 2026, marking an increase of Rs 52,520 or about 117.3%.

Silver rate today vs silver rate on this day, last year

Silver cost Rs 107 per gram on February 3, 2025. By February 3, 2026, the price had risen to Rs 300 per gram, an increase of Rs 193 per gram.

Why are gold and silver prices on the rise?

Analysts said gold and silver prices have been volatile due to shifting global cues. While a weaker dollar, rising geopolitical tensions, central bank buying, and policy uncertainty under the Trump administration had earlier supported prices, the dollar strengthened after President Donald Trump nominated a new Federal Reserve chair, weighing on precious metals worldwide.