Day after Rs 3,000 fall, Chennai gold price soars by Rs 2,000 to Rs 90,600 per sovereign on Oct 29, 2025
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CHENNAI: A day after gold plunged by Rs 3,000 to sell for Rs 88,600, the price of the shiny metal has climbed back to the 90K mark. The price of 22-carat gold in Chennai, which has been oscillating lately, increased by Rs 920 per sovereign on Wednesday evening (Oct 29).
A sovereign (8 grams) now costs Rs 90,600, with the per-gram rate rising by Rs 115 to Rs 11,325. Combined with the morning price rise of Rs 1,080 (Rs 89,600)/sovereign, gold has risen by Rs 2,000 in a single day.
A day earlier, on October 28, gold had plunged by Rs 3,000 in a single day: it fell by Rs 1,200 to Rs 90,400 per sovereign (gram: Rs 11,300) in the morning and further dropped Rs 1,800 to Rs 88,600 (gram: Rs 11,075) in the evening.
On October 17, a sovereign had cost Rs 97,600 (gram: Rs 12,200), the highest it has recorded this year, only to fall later.
Gold has seen a record rally this year as traders turned to the safe-haven asset amid geopolitical and economic uncertainty, driven by the ongoing US shutdown and the global trade war President Donald Trump unleashed, including on India.
Gold prices have recorded a massive surge from Rs 57,200 per sovereign (Rs 7,150 per gram) at the start of the year to Rs 90,600 this evening (October 29), a growth of Rs 33,400, or roughly 65.2%.
However, after a straight breakneck climb, the yellow metal has been on an on and off decline since the past week. Commenting on this decrease, S Santha Kumar, secretary, The Jewellers and Diamond Traders Association – Madras, had attributed it to the inflation prevailing in the US economy, saying it has nothing to do with any domestic reasons.
However, Santha Kumar had also predicted that gold is likely to go up again by next week. “It is expected to cross Rs 1 lakh per sovereign by November."
Meanwhile, the cost of silver remains priced at Rs 166 (Rs 166,000/kilogram) on the evening of Oct 29.
A gram of silver was priced at Rs 98 on January 1, and today it trades at Rs 166, marking a rise of Rs 68, or 69.3%.
Gold price (22-carat) over the last five days:
October 28, 2025 - 1 sovereign: Rs 88,600, 1 gram: Rs 11,075
October 27, 2025 - 1 sovereign: Rs 91,600, 1 gram: Rs 11,450
October 25, 2025 - 1 sovereign: Rs 92,000, 1 gram: Rs 11,500
October 24, 2025 - 1 sovereign: Rs 91,200, 1 gram: Rs 11,400
October 23, 2025 - 1 sovereign: Rs 92,000, 1 gram: Rs 11,500
Silver price over the last five days:
October 28, 2025 - 1 gram: Rs 165
October 27, 2025 - 1 gram: Rs 170
October 25, 2025 - 1 gram: Rs 170
October 24, 2025 - 1 gram: Rs 170
October 23, 2025 - 1 gram: Rs 174