Chennai, Nov 5:
Retail gold prices in Chennai witnessed a sharp surge on Thursday, climbing by Rs 2,280 per sovereign to breach the Rs 1.07-lakh milestone ahead of peak Deepavali festive purchases.
Following a rise of Rs 285 per gram, standard 22-carat ornament gold is now priced at Rs 1,07,080 per sovereign (Rs 13,385 per gram), up significantly from Wednesday afternoonâs rate of Rs 1,04,800 per sovereign (Rs 13,100 per gram). Retail prices reflect a steep 19.72% year-on-year increase compared to November 5, 2025, when gold stood at Rs 89,440 per sovereign.
Meanwhile, industrial silver rates held completely steady across bullion counters in the city at Rs 210 per gram (Rs 2,10,000 per kilogram), matching Wednesdayâs closing levels. Jewellers in T. Nagar and George Town reported heavy retail footfalls, noting that buyers are locking in seasonal purchases despite high international bullion movements.