Gold Prices Surge in Chennai: Ornamental Gold Rises Sharply by ₹1,760 per Sovereign
The price of ornamental gold in Chennai has witnessed a sharp increase, rising by ₹1,760 per sovereign.
On October 27, a sovereign was sold for ₹91,600 in Chennai. However, the very next day (October 28), prices fell steeply by ₹3,000, bringing the rate down to ₹88,600 per sovereign.
Following this, gold prices fluctuated over the following days but remained below the ₹91,000 mark. In this context, on Monday morning, the price of gold increased by ₹110 per gram, reaching ₹11,410 per gram, and ₹91,280 per sovereign.
By Monday evening, the price rose again to ₹11,480 per gram and ₹91,840 per sovereign.
Now, in a significant surge, the price of ornamental gold in Chennai has jumped by ₹1,760 per sovereign, reaching ₹93,600 per sovereign, with the per gram rate climbing by ₹220 to ₹11,700.
Similarly, silver prices have also increased. The price of silver rose by ₹1 per gram, reaching ₹170 per gram, while one kilogram (bullion silver) increased by ₹1,000, and is now being sold at ₹1.70 lakh per kg.
The sudden rise in both gold and silver prices has caught the attention of traders and buyers across Chennai, as festive demand and global market trends continue to influence domestic bullion rates.
