Gold prices continued their upward trend in Chennai on Wednesday, with jewellery gold hitting record-high levels, reflecting ongoing strong demand ahead of the festival season.
According to local market rates, 22-carat gold was selling at around ā¹12,870 per gram, up by ā¹40 from the previous day, while one sovereign (8 grams) was priced at approximately ā¹1,02,960.
Silver prices also climbed, with silver per gram trading at ā¹283 and a kilogram at around ā¹2,83,000.
The recent rise in gold prices mirrors a broader national trend of precious metal appreciation, as market data shows gold continuing near multi-year highs due to safe-haven demand and global economic uncertainties. City-wise reports indicate higher gold rates in major markets like Chennai, Delhi and Mumbai, with prices for 24-carat and 22-carat gold reflecting steady gains compared to previous sessions.
For buyers and investors, this means higher costs for jewellery purchases, particularly ahead of auspicious occasions. Analysts suggest monitoring daily price movements and consulting with local jewellers before making significant purchases, as rates remain volatile and sensitive to global cues and domestic demand.