In Chennai, the price of 22-karat gold has seen an increase of ₹65 per gram, bringing it to ₹7,360 per gram, while a sovereign of gold (8 grams) is now priced at ₹58,880, reflecting a rise of ₹520. This spike in gold prices comes as Deepavali approaches, a time when gold purchases traditionally surge.
Over the past few days, gold prices have been steadily climbing in Tamil Nadu. On October 24, 2024, the price of 22-karat gold was ₹7,285 per gram and ₹58,280 per sovereign. Silver prices have also remained steady, selling at ₹110 per gram.
With the festive season underway, gold sales have risen as many shoppers buy jewelry to celebrate Deepavali. The current trend in gold prices reflects both increased demand and market fluctuations as people prepare for one of the most celebrated festivals of the year.