Gold Price Hits New Peak in Chennai; Jumps Rs 1,600 Per Sovereign in a Single Day
Gold prices have been witnessing sharp fluctuations since the 16th of this month, with rates rising almost daily and repeatedly touching new record highs. On January 21, the price of gold crossed ₹1.15 lakh per sovereign, shocking buyers and investors alike.
After a brief correction, where prices dropped by ₹1,720 per sovereign the day before yesterday, gold prices resumed their upward trend. On Wednesday morning, gold prices in Chennai rose again, followed by a sharp surge in the evening, setting a new all-time high.
According to the latest update, the price of 22-carat jewellery gold in Chennai increased by ₹1,600 per sovereign in a single day, reaching ₹1,18,000 per sovereign. Earlier in the morning, the price had risen by ₹560, and later climbed further by ₹1,040. Gold was sold at ₹14,620 per gram, up by ₹70.
Silver Prices Also Surge
Silver prices also recorded a strong rise. The price of silver increased by ₹10 per gram in the morning and another ₹10 per gram in the afternoon, taking the total increase to ₹20 per gram in a single day. Silver is currently priced at ₹365 per gram and ₹3.65 lakh per kilogram in Chennai.
The continued rise in gold and silver prices has raised concerns among jewellery buyers, while investors are closely watching the bullion market for further movements.
