Chennai Gold Rate Today: Gold Price Surges by ₹2,280 Per Sovereign to ₹1,07,080; Investment Demand Rises

Gold prices in Chennai have witnessed another sharp increase on November 5, with 22-carat gold rising by ₹2,280 per sovereign to reach ₹1,07,080. With gold prices climbing by more than ₹4,500 in just two days and over ₹5,000 in the last four days, jewellery buyers and gold investors are closely watching the market.

Chennai Gold Rate Today – November 5, 2026

Gold prices continued their upward movement in Chennai today. The price of 22-carat gold increased by ₹285 per gram, taking the rate to ₹13,385. Accordingly, the price of one sovereign (8 grams) rose by ₹2,280 to ₹1,07,080.

The latest rates are:

The price of 24-carat pure gold also increased by ₹331 per gram. Its eight-gram price was reported at ₹1,16,816.

Gold Prices Rise by More Than ₹4,500 in Two Days

The latest increase follows a sharp rise recorded yesterday (November 4). On Wednesday, 22-carat gold prices increased by ₹2,400 per sovereign to reach ₹1,04,800. The price per gram rose by ₹300 to ₹13,100.

During the same period, 24-carat gold was priced at ₹1,14,328.

The continuous upward movement has surprised jewellery buyers, particularly those planning to purchase gold for weddings and upcoming family functions. The increase of more than ₹4,500 in just two days has also drawn the attention of people considering gold as a long-term investment.

Silver Price Remains Unchanged Today

Unlike gold, silver prices have remained stable in Chennai today.

- Silver price per gram: ₹210

- Silver price per kilogram: ₹2,10,000

Yesterday, silver prices had increased by ₹10 per gram, while silver bars recorded a rise of ₹10,000 per kilogram.

What Is Driving the Gold Price Rally?

Several international economic developments influence gold prices. The global economic climate and fluctuations in the Indian Rupee against the US Dollar are among the important factors affecting domestic gold rates.

Gold prices had declined for a few days last week. Notably, on October 31, the price dropped by ₹2,480 per sovereign. However, the market reversed direction soon afterwards, with gold prices steadily moving higher.

Although the Indian Rupee has shown a slight recovery against the US Dollar, international investors have shifted their attention towards gold. This trend has partly been linked to significant setbacks faced by President Trump`s Republican Party in the US midterm elections, which hahave contributed to the recent rise in gold prices.

Is the Gold Price Increase a Concern for Investors?

The sharp increase in gold prices is creating mixed reactions among jewellery buyers and investors. Those planning to purchase jewellery are facing higher costs, while existing gold holders are seeing an increase in the value of their holdings.

With gold jewellery prices rising by more than ₹5,000 per sovereign over the last four days alone, buyers and investors are keeping a close watch on daily price movements.

Gold remains an important investment option for many Indian households. However, investors should consider market volatility, their investment goals and purchase costs before making investment decisions.