Evening Gold Rate Update: Prices Hit Record High in Chennai
Gold prices soared dramatically this evening, hitting a new all-time high as the market closed. The price of 22-karat gold jumped by a total of ₹2,560 per sovereign today, marking one of the sharpest single-day increases this year. In the morning, gold rose by ₹1,600 per sovereign, and by the afternoon it climbed further by ₹960, pushing rates to unprecedented levels.
With this surge, 22K gold is now selling at ₹12,370 per gram, while one sovereign stands at ₹98,960, inching ever closer to the ₹1 lakh milestone. Silver prices also moved up slightly and are now selling at ₹216 per gram, reflecting a ₹1 increase.
Market analysts attribute this sudden spike to global economic uncertainty, heightened geopolitical tensions, and rising international gold prices, all of which have boosted safe-haven demand. The weaker rupee has further added to import costs, intensifying the upward pressure on domestic gold rates.
This unexpected evening surge has left both buyers and jewellers stunned. Many customers are postponing purchases, hoping for a correction, while others are hurrying to buy before prices climb even higher. With the current trend, experts warn that gold may cross the ₹1 lakh per sovereign mark sooner than anticipated.
