Gold prices witnessed a sharp rise across Tamil Nadu on the morning of August 2, 2025, creating a buzz in the jewellery market and among investors. The price of gold has increased by ₹140 per gram, pushing the cost of one sovereign (8 grams) up by ₹1,120. This marks one of the most significant hikes in recent times.As of Saturday morning, the rate for standard 22-karat gold stands at ₹9,290 per gram. Consequently, the cost of one sovereign has surged to ₹74,320. This escalation has affected both retail buyers and those planning traditional purchases such as wedding jewellery, prompting many to reconsider their plans or make hurried purchases fearing further hikes.
In the case of 24-karat pure gold, the price has reached ₹10,134 per gram. The higher purity and investment value of 24K gold continue to attract bullion investors despite the steeper cost.
Silver prices, too, have remained on the higher end. A kilogram of silver is now priced at ₹1,23,000, while one gram of silver is sold at ₹123. This steady rise in silver value is attributed to industrial demand and global market trends.
Market analysts attribute the hike in gold and silver prices to multiple global factors, including fluctuating dollar rates, inflation concerns, geopolitical tensions, and increased festive season demand. As the festival and wedding seasons approach, traders expect the demand for gold to remain high, which may further influence prices.
Buyers are advised to keep a close eye on the market for price fluctuations before making large purchases, especially with global economic trends playing a critical role in shaping bullion rates.