Gold prices surged sharply in the Chennai market on Monday, driven by strong global demand and rising safe‑haven investment sentiment.
Local jewellers reported a steep rise in precious metal rates, with 24‑carat gold climbing to around ₹7,900 per gram, while 22‑carat gold touched approximately ₹7,250 per gram — marking a significant uptick compared to recent weeks.
The sudden surge comes amid fluctuations in international bullion markets and continued volatility in global financial conditions. Traders say increased demand from investors seeking refuge in gold, as well as currency movements, have contributed to the rising prices.
Silver prices also jumped, trading near ₹95 per gram in the city’s retail outlets. Consumers and investors were advised to track live rates throughout the day before making purchases, as gold prices can vary frequently according to global trends, dollar rates and local market dynamics.
Jewelers expect demand to remain strong in the near term as buyers rush to secure gold amid the price rally.