As trading began in Chennai this morning, gold prices recorded a sharp increase, with the rate rising by ₹160 per sovereign to reach ₹99,200. After recently touching the ₹1 lakh mark per sovereign and shocking the market, gold prices are once again climbing steadily and inching closer to that level.
On Saturday morning, the last trading day of the week, the price of ornamental gold increased by ₹20 per gram, selling at ₹12,400 per gram. Correspondingly, the price per sovereign rose by ₹160 to ₹99,200.
While gold prices continue to deliver repeated shocks, silver prices are also hitting fresh highs, making gold appear comparatively moderate. This morning, silver prices increased by ₹5 per gram to ₹226. With this rise of ₹5,000, the price of one kilogram of silver has reached ₹2.26 lakh.
