Gold gets costlier by Rs 1,600 in Chennai; sovereign costs Rs 90,400 on Oct 30 evening
Planning to buy gold today? Check out the latest gold rates in Chennai before you head to the jewellers.
CHENNAI: Continuing its week-long oscillating trend, the price of 22-carat gold in Chennai soared Rs 1,600/sovereign on Thursday (October 30) evening, hours after plunging by Rs 1,800. A sovereign (8 grams) now costs Rs 90,400, and a gram at Rs 11,300.
Today morning, gold was selling for Rs 88,800, after a Rs 1,800 drop from yesterday's price of Rs 90,600.
After a meteoric rise, gold has now entered a seesaw phase, with sharp day-to-day fluctuations. For perspective, it fell by Rs 3,000 on October 28, surged by Rs 2,000 on October 29, and dropped again by Rs 1,800 today morning, and rose to 90,400 now.
At the start of the month, on October 1, the yellow metal was priced at Rs 87,120 per sovereign (Rs 10,890 per gram). It then rose to Rs 97,600 (Rs 12,200 per gram) on October 17—the highest this year—but has since fallen to Rs 88,000 (Rs 11,100 per gram) today, a drop of Rs 8,800 per sovereign and Rs 1,100 per gram.
Speaking to Thanthi TV, Jayantilal Challani, Founder and Chairman of Challani Group. said there are multiple factors behind the sudden rise and fall in gold prices. "Central banks across the world continue to buy gold, leading to a surge in prices. The US Federal Reserve’s decision to keep gold as part of its reserves will also push prices up. Additionally, many investors are buying gold during price dips, which is another reason for the surge,” he added.
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 global trade tensions unleashed by President Donald Trump, including with India. For comparison, gold stood at Rs 57,200 per sovereign (Rs 7,150 per gram) on January 1, rising to Rs 90,400 on October 30 — a gain of Rs 33,200, or about 58%. On October 17, it had climbed to 70.6%, with a record rise of Rs 40,400 per sovereign.
Silver price continues to drop
On the other hand, silver, which had climbed a record Rs 200/gram this month, continues to be priced at Rs 165 (Rs 165,000/kilogram) in the evening session on October 30. It was sold for Rs 166 a day earlier.
A gram of silver was priced at Rs 98 on January 1, and today it trades at Rs 165, marking a rise of Rs 67, or 68.3%.
Gold price (22-carat) over the last five days:
October 29, 2025 - 1 sovereign: Rs 90,600, 1 gram: Rs 11,325
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
Silver price over the last five days:
October 29, 2025 - 1 gram: Rs 166
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
