Gold Price DROPS On New Year's Day: Check 22K, 24K Rates Today
Gold Price: here's been a significant drop in gold and silver prices. This price decrease is due to factors like international market conditions and a rise in the dollar's value, leading to crowds flocking to jewelry stores
A great start! Housewives are overjoyed
On the very first day of 2026, a sharp drop in gold and silver prices has brought great excitement to Tamil Nadu's jewelry lovers and investors. After gold prices hit unprecedented highs in 2025, the new year has kicked off with "Good News". 24K gold rate today is 13, 506 and 22k today is 12, 380 per gram
Happiness on women's faces
On the very first day of 2026, a sharp drop in gold and silver prices has brought great excitement to Tamil Nadu's jewelry lovers and investors. After gold prices hit unprecedented highs in 2025, the new year has kicked off with "Good News".
Significant drop in silver prices too!
Similarly, there's a considerable drop in silver prices too. One gram of silver has decreased by Rs. 1 and is selling for Rs. 256. Accordingly, the price of one kilogram of bar silver is Rs. 2,56,000.
What are the reasons for the price drop?
Three main reasons are cited for the fall in gold prices at the beginning of this year.
Profit-booking in the international market
Since gold prices were at a peak at the end of last December, international investors have started selling gold to book profits. This has slightly reduced the demand for gold in the global market, causing the price to fall.
Value of the US Dollar
The strengthening value of the US dollar in the international market has reduced investment in gold. The economic rule that gold prices generally fall when the dollar's value rises is reflected here.
Shift in investor focus
With expectations that the US Federal Reserve might cut interest rates in 2026, investors have started shifting from gold to other financial investments.
Sales are booming, people are interested
While the price has dropped, jewelry stores are crowded as it's New Year's Day. Many have started buying jewelry in advance, believing that buying gold on New Year's brings good luck and for the upcoming Thai month wedding season.
Specifically, major jewelry stores in Chennai have seen brisk pre-bookings and direct sales since the morning. The price of one sovereign falling below one lakh is a great opportunity for those looking to buy smaller jewelry items.
Future situation, experts' prediction
Economists predict that the current drop is temporary and that gold prices are likely to rise again in the second half of 2026. It is said that gold will continue to be a safe investment in the long run due to international economic tensions and the gold reserve policies of central banks.
Therefore, it would be a wise decision for those planning to buy jewelry to take advantage of this price drop and purchase what they need.
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