Chennai: Gold hits Rs 1.22 lakh, silver touches Rs 400 on January 28; check how much they cost

CHENNAI: Gold, after a fall of Rs 520 the previous day, has risen again to set a new record, reaching the Rs 1.22 lakh mark on January 28.

The shiny metal has surged by Rs 2,960 per sovereign to be priced at Rs 1,22,640 per sovereign (8grams) and Rs 15,330 per gram, a rise of Rs 350.

On January 27, gold was priced at Rs 1,19,680 per sovereign and Rs 14,960 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 60,080 per sovereign (Rs 7,510 per gram) on January 28, 2025, to Rs 1,22,640 per sovereign (Rs 15,330 per gram) on January 28, 2026, marking an increase of Rs 62,560, or about 104.1%.

Silver Surges

Meanwhile, silver prices increased by Rs 13 to sell for a record Rs 400 per gram (Rs 4,00,000 per kg) on January 28. A gram had cost Rs 387 per gram on January 27.

Why is gold price on the rise?

Explaining the relentless rise of gold in January, veteran jeweller Jayantilal Challani, president of Jewellers and Diamond Traders Association of Madras, said, “The current surge is primarily due to increased global uncertainty stemming from the Greenland crisis/tax rate tensions and overall risk-averse sentiment. Geopolitical tensions and fears over trade war affect the rate, as investors prefer safe-haven assets like gold.”

Gold price (22-carat) over the last five days:

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

January 22, 2026: 1 Sovereign- Rs 1,13,600 | 1 gram- Rs 14,200

Silver price over the last five days:

January 27, 2026: 1 gram- Rs 387

January 26, 2026: 1 gram- Rs 376

January 24, 2026: 1 gram- Rs 355

January 23, 2026: 1 gram- Rs 345

January 22, 2026: 1 gram- Rs 340