CHENNAI: Gold prices surged by Rs 1,280 in the city on Saturday (February 14). The yellow metal is now priced at Rs 1,16,480 per sovereign (8 grams), and Rs 14,560 per gram, marking a rise of Rs 160.
On February 13, a day earlier, 22-carat gold was priced at Rs 1,15,200 per sovereign and Rs 14,400 per gram.
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 280 per gram (Rs 2,80,000 per kg).
Gold prices fell because strong US jobs data for January 2026, which were released on Wednesday, 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 63,920 per sovereign (Rs 7,990 per gram) on February 14, 2025, to Rs 1,16,480 per sovereign (Rs 14,560 per gram) on February 14, 2026, marking an increase of Rs 52,560, or about 82.2%.
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 10, 2026: 1 Sovereign- Rs 1,16,640 | 1 gram- Rs 14,580
February 9, 2026: 1 Sovereign- Rs 1,17,200 | 1 gram- Rs 14,650
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
February 9, 2026: 1 gram- Rs 300