Gold price increases by Rs 240 per sovereign in Chennai on November 21
There is no change in the price of silver. One gram of silver continues to be sold for Rs 101, while one kilogram is priced at Rs 1,01,000.
Representative Image (Photo: Hemanathan.M)
CHENNAI: Gold price increased by Rs 30 per gram in the city on Thursday, reaching Rs 7,145 per gram, while the price for a sovereign has risen by Rs 240, now costing Rs 57,160.
There is no change in the price of silver. One gram of silver continues to be sold for Rs 101, while one kilogram is priced at Rs 1,01,000.
Gold prices had been increasing steadily until the end of last month (October). However, from the beginning of this month, the price has been gradually decreasing.
On Nov 1, one gram of gold was sold for Rs 7,385, and one sovereign was priced at Rs 59,080.
The decline in prices was observed following the US presidential election results and a slight reduction in geopolitical tensions related to the ongoing war.
From Monday, gold prices have started rising again. The price increased by Rs 60 per gram and Rs 480 per sovereign on Monday (Nov 18).
On Tuesday (Nov 19), the price increased by Rs 70 per gram and Rs 560 per sovereign, with one gram being sold for Rs 7,065 and one sovereign for Rs 56,520. As of Wednesday (Nov 20), the price increased by Rs 50 per gram, reaching Rs 7,115 per gram, while the price for a sovereign rose by Rs 400, costing Rs 56,920.