On Wednesday, the price increased by ₹520 per sovereign, bringing it to ₹59,520, which amounts to ₹7,440 per gram.
The surge in gold prices continued on Wednesday, reaching ₹59,520 per sovereign in Chennai. The price rose by ₹520 per sovereign, translating to ₹7,440 per gram.
October 29 marked Dhanteras, an auspicious day leading up to the Deepavali festival, when many Hindus, particularly from other regions, traditionally buy gold and silver. This month, gold prices have generally been on the rise, surpassing the ₹57,000 and ₹58,000 marks earlier in October.
On October 17, the price of one sovereign of gold exceeded ₹57,000, and just three days later, it climbed to ₹58,000. Now, ten days later, it has set yet another record.
In addition, the price of silver also saw an increase, rising by Re 1 to be sold at ₹109 per gram.