The price of gold saw a sharp increase in Chennai today. The rate for 22-carat gold rose by Rs 800 per sovereign, bringing the price to ₹90,400.
Similarly, the price per gram increased by ₹100, reaching ₹11,300.
The steady rise in gold prices is being attributed to higher global market rates, festive season demand, and investors moving towards safe assets amid economic uncertainty. Jewelers say that though prices are at a record high, people continue to buy gold in smaller quantities due to the ongoing festive season.
Experts predict that the price may fluctuate further in the coming weeks depending on international market trends and currency exchange rates.