Gold price spikes by Rs 480 per sovereign, gram costs Rs 7,450 on Jan 17 in Chennai

CHENNAI: The price of gold in Chennai increased by Rs 480 per sovereign on Friday (January 17), and the yellow metal is being sold at Rs 59,600 per sovereign.

Accordingly, gold price per gram has increased by Rs 60 with a gram now costing Rs 7,450.

The price of gold last week was on a steady upward trend, finishing at 58,520 per sovereign on January 11. This week, it rose to Rs 58,720 on January 13 only for it to slightly dip to Rs 58,640 the next day, January 14. However, it has been on the uptick again for the past two consecutive days (Jan 15 & 16), rising by a total of Rs 480 per sovereign.

Also Read: Gold price in Chennai rises by Rs 240 per gram in 16 days

Meanwhile, the price of silver has increased by Re 1 per gram and is being sold at Rs 104 per gram.

Gold price over the last five days:

16.01.2024: 1 sovereign (22 carat) - Rs 59,120

15.01.2024: 1 sovereign (22 carat) - Rs 58,720

14.01.2024: 1 sovereign (22 carat) - Rs 58,640

13.01.2025: 1 sovereign (22 carat) - Rs 58,720

12.01.2025: 1 sovereign (22 carat) - Rs 58,520

11.01.2025: 1 sovereign (22 carat) - Rs 58,520

Silver price over the last five days:

16.01.2024: 1 gram - Rs 103

15.01.2024: 1 gram - Rs 101

14.01.2024: 1 gram - Rs 101

13.01.2025: 1 gram - Rs 102

12.01.2025: 1 gram - Rs 101

11.01.2025: 1 gram - Rs 101