CHENNAI: A day after an increase of Rs 2,160, the shiny metal fell by Rs 640 per sovereign on February 20.
The yellow metal is now priced at Rs 1,15,360 per sovereign (8 grams), and Rs 14,420 per gram, marking a fall of Rs 80.
A day earlier, on February19, 22-carat-gold was priced at Rs 1,16,000 per sovereign and Rs 14,500.
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 270 per gram (Rs 2,70,000 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 64,560 per sovereign (Rs 8,070 per gram) on February 20, 2025, to Rs 1,15,360 per sovereign (Rs 14,420 per gram) on February 20, 2026, marking an increase of Rs 50,800, or about 78.6%.
February 19, 2026: 1 Sovereign- Rs 1,16,000| 1 gram- Rs 14,500
February 18, 2026: 1 Sovereign- Rs 1,13,840| 1 gram- Rs 14,230
February 17, 2026: 1 Sovereign- Rs 1,14,560| 1 gram- Rs 14,320
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 19, 2026: 1 gram- Rs 270
February 18, 2026: 1 gram- Rs 260
February 17, 2026: 1 gram- Rs 265
February 16, 2026: 1 gram- Rs 265
February 14, 2026: 1 gram- Rs 280