Chennai, Nov 7:
Gold prices in Chennai edged higher by Rs 160 per sovereign on Saturday, driven by renewed retail interest and festive bullion demand.
Standard 22-carat gold increased by Rs 20 per gram to touch Rs 13,160, taking the cost of one sovereign (8 grams) to Rs 1,05,280. The upward revision follows Friday’s level of Rs 1,07,080 per sovereign. Compared to the corresponding date last year, when gold stood at Rs 90,160 per sovereign (Rs 11,270 per gram), prices have climbed by Rs 15,120 per sovereign, registering an appreciation of nearly 16.77%.
Silver rates recorded a notable surge on Saturday, climbing to Rs 250 per gram (Rs 2,50,000 per kg) from the previous day’s closing mark of Rs 210 per gram. Bullion traders noted that the uptick in precious metals aligns with intensified festive purchases ahead of Diwali.