The price of gold witnessed a significant increase on Friday, January 24, as it rose by Rs 240 per sovereign, bringing the cost to Rs 60,440. The price per gram has also climbed by Rs 30, with gold now retailing at Rs 7,555 per gram.
Gold prices have shown an upward trend in recent weeks. On January 16, the price was Rs 59,120 per sovereign, which rose to Rs 59,600 on January 17. However, it experienced a brief dip to Rs 58,480 on January 18 before recovering and surpassing the Rs 60,000 mark on January 20. The latest hike has solidified its position above this threshold.
Meanwhile, the price of silver has also risen, albeit modestly, by Re 1 per gram. Silver is now being sold at Rs 105 per gram in the city.
With the upward trajectory of gold prices, investors and consumers in Chennai are keeping a close watch on the market trends.