Gold price drops by Rs 560 in Chennai; sovereign at Rs 89,440 on Nov 5, 2025
Planning to buy gold today? Check out the latest gold rates in Chennai before you head to the jewellers.
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CHENNAI: Amid a two-week streak of fluctuations, gold prices dropped by Rs 560 on Wednesday (November 5), with a sovereign (8 grams) of 22-carat gold priced at Rs 89,440 and a gram at Rs 11,180.
On Tuesday (November 4), gold fell by Rs 800 to Rs 90,000 per sovereign (Rs 11,250 per gram). On November 1, the rates stood at Rs 90,480 per sovereign and Rs 11,310 per gram.
The recent price fluctuations follow a meteoric rise last month, when gold had surged to Rs 97,600 per sovereign (Rs 12,200 per gram) on October 17—the highest this year—before plunging to Rs 88,600/sovereign (Rs 11,075/gram) on October 28.
Speaking to Thanthi TV, Jayantilal Challani, Founder and Chairman of the Challani Group, attributed the frequent fluctuations to global factors. “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 further drives demand,” he said.
Gold has rallied significantly this year as investors turned to the safe-haven asset amid geopolitical and economic uncertainty, driven by the ongoing US shutdown and global trade tensions.
For perspective: gold was priced at Rs 57,200 per sovereign (Rs 7,150 per gram) on January 1 this year, but costs Rs 89,440 today, November 5, marking a growth of Rs 29,240, or roughly 51.1%. On October 17, it had climbed to 70.6%, owing to a record rise of Rs 40,400 per sovereign.
Meanwhile, silver dropped by Rs 2 per gram today, bringing the rate to Rs 163 per gram (Rs 163,000/kg).
Gold price (22-carat) over the last five days:
November 04,2025: 1 sovereign- Rs 90,000 | 1 gram- Rs 11,250
November 03, 2025: 1 sovereign- Rs 90,800 | 1 gram- Rs 11,350
November 01, 2025: 1 sovereign – Rs 90,480 | 1 gram – Rs 11,310
October 31, 2025: 1 sovereign – Rs 90,400 | 1 gram – Rs 11,300
October 30, 2025: 1 sovereign – Rs 90,400 | 1 gram – Rs 11,300
Silver price over the last five days:
November 04, 2025: 1 gram - Rs 165
November 02, 2025: 1 gram- Rs 168
November 01, 2025: 1 gram – Rs 166
October 31, 2025: 1 gram – Rs 165
October 30, 2025: 1 gram – Rs 165
