Kumari Palany & Co

Gold Prices Surge in Chennai, Reaching Rs 55,200 Per Gram

Posted on: 20/May/2024 10:36:56 AM

The price of jewelry gold in Chennai saw a notable increase today(Monday), climbing by Rs 50 per gram to reach Rs 6,900 per gram. This rise brings the price of a sovereign (eight grams) of Aparana gold to Rs 55,200, marking a significant hike of Rs 400.

Gold prices have been on a record-setting trajectory since March 1, consistently reaching new highs. Following a brief decline, the prices spiked dramatically during the last Akshaya Tritiya, with the cost of a village (approximately 8 grams) soaring by Rs 155, causing a stir among the public.

Yesterday, jewelry gold was being traded at Rs 6,850 per gram, equating to Rs 54,800 for a sovereign. The increase in gold investments has driven the price up further since trading commenced today.

The consistent rise in gold prices has been met with a mix of concern and astonishment from the public. The latest hike underscores the continuing trend of gold`s value appreciation, impacting both investors and consumers in the market.

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