Chennai gold sovereign price jumps Rs 1,960 to cross Rs 94,000 per sovereign on Oct 14; silver soars to Rs 206 per gram

CHENNAI: Continuing its breakneck climb, the price of 22-carat gold in Chennai rose by Rs 1960 on Tuesday (Oct 14), reaching Rs 94,600 per sovereign (1 sovereign = 8 gram). Accordingly, the per-gram rate rose by Rs 245 to Rs 11,825.

A day earlier, on October 13, gold prices in Chennai had risen by Rs 640 per sovereign, closing at Rs 92,640 (per gram: Rs 11,580).

Gold has seen a record rally this year as traders turned to the safe-haven asset amid geopolitical and economic uncertainty, driven by the ongoing US shutdown and the global trade war President Donald Trump unleashed, including on India. Bullion is on track for its best year since 1979, when the Tehran revolution impacted global markets. Silver has also climbed to all-time highs, boosted by a weak dollar and strong central bank and investment buying.

Gold prices have surged from Rs 57,200 per sovereign (Rs 7,150 per gram) at the start of the year to Rs 94,600 today (October 14), a massive surge of Rs 39,200, or roughly 68.5%.

From Rs 57,200 per sovereign on January 1, gold 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. From Rs 77,640 per sovereign (Rs 9,705 per gram) on September 1, it soared 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.

Speaking to DT Next, S Santha Kumar, secretary, the Jewellers and Diamond Traders Association - Madras had earlier predicted that gold is likely to cross Rs 12,500 per gram (Rs 1 lakh per sovereign) before the end of December. "The demand has come down due to the price hike, but the rate would increase again, and those considering it as an investment should purchase it now," he recommended.

Silver soars

On the other hand, silver prices, which have also been on a steady rise, increased by Rs 9, and now cost Rs 206/gram. A gram of silver was priced at Rs 98 on January 1, and today it trades at Rs 206, marking a rise of Rs 108, or 110%. This means a kilogram of silver has increased from Rs 98,000 to Rs 2,06,000.

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

October 13, 2025 - 1 sovereign: Rs 92,640, 1 gram: Rs 11,580

October 11, 2025 - 1 sovereign: Rs 92,000, 1 gram: Rs 11,500

October 10, 2025 - 1 sovereign: Rs 90,720, 1 gram: Rs 11,340

October 9, 2025 - 1 sovereign: Rs 91,400, 1 gram: Rs 11,425

October 8, 2025 - 1 sovereign: Rs 91,080, 1 gram: Rs 11,385

Silver price over the last five days:

October 13, 2025 - 1 gram: Rs 197

October 11, 2025 - 1 gram: Rs 190

October 10, 2025 - 1 gram: Rs 187

October 9, 2025 - 1 gram: Rs 184

October 8, 2025 - 1 gram: Rs 170