Chennai, Aug 24:
Gold prices continued their sharp upward trend in Chennai on Monday, with the price of a sovereign of 22-carat gold rising by ₹640 to ₹1,20,240.
The price of one gram increased by ₹80 to ₹15,030. With the latest hike, gold has risen by ₹6,480 per sovereign since August 15, adding to concerns among buyers ahead of the festive and wedding season.
Gold had closed at ₹1,19,600 per sovereign on Saturday after rising by ₹800, while it was priced at ₹1,18,800 on Friday.
Silver prices also moved up on Monday. The price of a gram rose by ₹5 to ₹275, while a kilogram of silver was priced at ₹2.75 lakh.
Gold prices have risen steadily over the past few days, with the sovereign moving from ₹1,15,200 on August 19 to ₹1,20,240 on Monday.