Chennai gold price rebounds for 3rd day in evening trade, sovereign at Rs 87,200 on Oct 3

CHENNAI: Gold prices in Chennai rebounded during evening trade on October 3 after a sharp fall in the morning.

In the morning session, 22-carat gold dropped by Rs 880 per sovereign (1 sovereign = 8 grams) and Rs 110 per gram, with prices at Rs 86,720 per sovereign and Rs 10,840 per gram.

By evening, prices rose again, with a sovereign increasing by Rs 480 to Rs 87,200 and a gram by Rs 60 to Rs 10,900. This marks the third consecutive day of evening gains.

On October 2, gold had followed a similar trend. Prices dipped by Rs 560 in the morning to Rs 87,040 per sovereign (Rs 10,880 per gram) but recovered in the evening to rise by Rs 560 to sell for Rs 87,600 per sovereign (Rs 10,950 per gram).

On October 1, prices rose by Rs 240 to an all-time high of Rs 87,120 per sovereign and Rs 10,890 per gram. In the evening, it rose by Rs 480 to Rs 87,600 per sovereign and Rs 10,950 per gram.

While the gold price has been inching forward for most of the year, what triggered the recent rally is the trade war that US President Donald Trump unleashed on the world, including India. Gold has surged 52.2% this year, jumping from Rs 57,200 at the start of the year to Rs 87,600 per sovereign on October 1.

From Rs 57,200 per sovereign on January 1, it touched Rs 63,240 by February 5, and Rs 66,400 by March 14 after a single-day gain of Rs 1,440. On April 22, it jumped Rs 2,200 to Rs 74,320. The Rs 75,000 mark was crossed twice — on July 23 and August 6, at Rs 75,040. In September alone, gold prices surged by over Rs 9,000.

In September alone, gold prices surged by over Rs 9,000. From Rs 77,640 per sovereign (Rs 9,705 per gram) on September 1, prices increased to Rs 86,880 per sovereign (Rs 10,860 per gram) on September 30, marking a rise of Rs 9,240 per sovereign and Rs 1,155 per gram.

On the other hand, silver price which was Rs 161/gram in the morning rose to Rs 162 in the evening.

Gold price (22-carat) over the last five days:

October 2, 2025 - 1 sovereign: Rs 87,600, 1 gram: Rs 10,950

October 1, 2025 - 1 sovereign: Rs 87,600, 1 gram: Rs 10,950

September 30, 2025 - 1 sovereign: Rs 86,880, 1 gram: Rs 10,860

September 29, 2025 - 1 sovereign: Rs 85,600, 1 gram: Rs 10,700

September 27, 2025 - 1 sovereign: Rs 85,120, 1 gram: Rs 10,640

Silver price over the last five days:

October 2, 2025 - 1 gram: Rs 164

October 1, 2025 - 1 gram: Rs 161

September 30, 2025 - 1 gram: Rs 161

September 29, 2025 - 1 gram: Rs 160

September 27, 2025 - 1 gram: Rs 159