Gold rebounds after brief slide; Silver slips below Rs. 300 per gram

Gold prices, which had witnessed a sharp decline over the past three trading sessions, rebounded in Chennai on Monday, while silver prices fell below the Rs. 300-per-gram mark.
The price of 22-carat gold jewellery rose by Rs. 640 per sovereign, reversing the recent downward trend that had brought temporary relief to buyers.
In contrast, silver registered a steep fall, slipping to Rs. 280 per gram.
Gold prices are largely influenced by global economic cues and movements in the Indian rupee against the US dollar.
Since January 2026, gold rates have remained volatile, repeatedly touching record highs and triggering concern among consumers.
At one point, the price of a sovereign had crossed Rs. 1.30 lakh, with silver prices also surging sharply during the same period.
Towards the end of January, however, prices eased on January 30, 31, and February 2, offering some respite to customers.
Over these three days, the price of a sovereign fell by nearly Rs. 2,280.
On Monday, the trend reversed again. The price of 22-carat gold increased by Rs. 80 per gram to Rs. 14,030, taking the price of a sovereign to Rs. 1,12,240.
Eighteen-carat gold also moved up, rising by Rs. 10 per gram to Rs. 12,010 and by Rs. 80 per sovereign to Rs. 96,080.
Silver prices, however, moved in the opposite direction.
The metal fell by Rs. 20 per gram to Rs. 280, while the price per kilogram declined by Rs. 20,000 to Rs. 2.80 lakh, traders said.