Gold Prices Soar in Chennai: Rs 5,200 Jump per Sovereign in a Single Day
Gold prices in Chennai witnessed a sharp surge today, with the price of gold jewellery rising by ₹5,200 per sovereign in a single day. After an initial increase of ₹2,960 per sovereign in the morning, prices climbed by a further ₹2,240 later in the day. As a result, gold jewellery is now being sold at ₹1,24,880 per sovereign and ₹15,610 per gram.
Driven by sustained pressure in global markets, gold and silver prices across India have reached new record levels. Across Tamil Nadu, including Chennai, the price of gold jewellery has crossed ₹1.22 lakh per sovereign. Meanwhile, silver prices touched ₹400 per gram for the first time, marking an unprecedented high.
Historical price trends highlight the rapid rise in gold rates over the past few months. On November 1, one sovereign of gold was priced at ₹90,480. This increased to ₹96,560 by December 1. On December 15, gold crossed the ₹1 lakh mark for the first time. On January 1, the price stood at ₹99,520.
Market analysts attribute the surge to strong global demand, economic uncertainty and fluctuations in international bullion markets, with prices expected to remain volatile in the coming days.
