In Chennai, the price of 22-carat gold has surged sharply on October 29, 2025, with a sovereign (8 grams) now costing Rs. 89,680, marking an increase of Rs. 1080 in just one day.
The per-gram rate also rose by Rs. 135 to Rs. 11,210, signaling a sudden and significant rally in the gold market.
This spike follows a volatile period in Tamil Nadu’s gold prices, where precious metal prices saw dramatic fluctuations.
Earlier this month on October 17, the 22-carat sovereign reached its peak for the year at Rs. 97,600 per sovereign with a gram price of Rs. 12,200.
However, prices had dipped sharply over the past week with a notable plunge of Rs. 3000 per sovereign on October 28, before rebounding vigorously the next day.
The rapid price movements in gold have created a stir among investors and buyers, highlighting ongoing market uncertainties driven by geopolitical and economic factors globally.
Despite the recent fall before the surge, gold remains a favored safe-haven asset amid such instability.
This sudden increase has caught the attention of jewelry traders and buyers in Chennai, one of India’s prominent gold markets, known for its vibrant demand for ornaments.
Market watchers anticipate more price volatility in the near term based on global trends and local demand-supply dynamics.The gold price rally has come as a shock to many consumers just days ahead of the festive season, intensifying the ongoing price sensitivities in the precious metals market in Tamil Nadu.