Chennai, Apr 10:
Gold prices have witnessed a significant surge over the past two days, with the price of 22-carat ornamental gold rising by ₹1,200 per sovereign today. As a result, the price of one sovereign now stands at ₹68,400 in Chennai. This marks a total increase of ₹2,680 per sovereign in just two days.
The fluctuating global market trends have been influencing gold prices. Last week, gold rates in Tamil Nadu had slightly declined. However, they have now soared to record highs once again. On April 9, the price of gold per gram increased by ₹65, reaching ₹8,290, while the price per sovereign rose by ₹520, selling at ₹66,320.
By noon the same day, there was a sudden spike in prices, with gold increasing by ₹120 per gram, reaching ₹8,410. This led to a sharp rise of ₹960 per sovereign, bringing it up to ₹67,280. Today (April 10), the prices have further escalated, with 22-carat ornamental gold climbing by another ₹1,200 per sovereign, now selling at ₹68,400. The per-gram rate has also surged by ₹150, reaching ₹8,560.
The continuous increase in gold prices has left jewelry buyers shocked, as prices are touching new peaks. Experts suggest that ongoing global economic uncertainties and demand fluctuations are driving the price surge, making it a challenging time for customers looking to invest in gold.