CHENNAI: After a continuous downward slide, gold prices surges by Rs 2,160 on Thursday (February 19).
The yellow metal is now priced at Rs 1,16,000 per sovereign (8 grams), and Rs 14,500 per gram, a surge of Rs 270.
The shiny metal was priced at Rs 1,13,840 per sovereign (8 grams) and Rs 14,230 per gram on February 18.
The price drop comes as the US dollar strengthened following stronger-than-expected January jobs data, which reduced expectations of early interest rate cuts.
Silver also witnessed an increase by Rs 10 to Rs 270 per gram (Rs 2,70,000 per kg) on February 19.
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 64,280 per sovereign (Rs 8,035 per gram) on February 19, 2025, to Rs 1,16,000 per sovereign (Rs 14,500 per gram) on February 19, 2026, marking an increase of Rs 51,720, or about 80.4%.
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 13, 2026: 1 Sovereign- Rs 1,15,200| 1 gram- Rs 14,400
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
February 13, 2026: 1 gram- Rs 280