Gold price in Chennai records sharp fall on May 1, 2025

CHENNAI: The price of gold in the city has decreased by Rs 1,640 per sovereign, with a gram costing Rs 8,775 on Thursday. A sovereign now costs Rs 70,200.

According to a Thanthi TV report, India saw an estimated sale of gold jewellery and related items worth approximately Rs 14,000 crore on the occasion of Akshaya Tritiya on Wednesday.

Last Akshaya Tritiya (May 10, 2024), the rate of gold per sovereign was Rs 53,280. On Wednesday (April 30, 2025), the rate per sovereign was Rs 71,840, which is an increase of 35% in a year.

On February 5, the gold rate was Rs 63,240/sovereign. It later shot up to Rs 64,000, only to plummet to Rs 63,520 on February 12.

On March 14, after more fluctuations, the price jumped to Rs 66,400 — a massive spike of Rs 1,440 from the previous day’s price.

On April 22, the gold price soared to an all-time high of Rs 74,320/sovereign, marking a steep rise of Rs 2,200 per sovereign compared to the previous day's rate

After a continuous rise over the past few days, the price has dropped and is being sold at Rs 70,200 per sovereign on May 1 (Today).

Meanwhile, the price of silver has decreased by Rs 2 and is now being sold at Rs 109/gm.

Gold price over the last five days:

30.04.2025: 1 sovereign (22 carat)- Rs 71,840

29.04.2025: 1 sovereign (22 carat)- Rs 71,840

28.04.2025: 1 sovereign (22 carat)- Rs 71,520

26.04.2025: 1 sovereign (22 carat)- Rs 72,040

25.04.2025: 1 sovereign (22 carat)- Rs 72,040

Silver price over the last five days:

30.04.2025: 1 gram- Rs 111

29.04.2025: 1 gram- Rs 111

28.04.2025: 1 gram- Rs 111

26.04.2025: 1 gram- Rs 112

25.04.2025: 1 gram- Rs 112