Day after Rs 3,000 fall, Chennai gold price soars by Rs 1,080 to Rs 89,680 per sovereign on Oct 29, 2025
Planning to buy gold today? Check out the latest gold rates in Chennai before you head to the jewellers.
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CHENNAI: The price of 22-carat gold in Chennai, which has been oscillating lately, increased by Rs 1,080 per sovereign on Wednesday (Oct 29). A sovereign (8 grams) now costs Rs 89,680, with the per-gram rate rising by Rs 135 to Rs 11,210.
A day earlier, on October 28, gold had plunged by Rs 3,000 in a single day: it fell by Rs 1,200 to Rs 90,400 per sovereign (gram: Rs 11,300) in the morning and further dropped Rs 1,800 to Rs 88,600 (gram: Rs 11,075) in the evening.
On October 17, a sovereign had cost Rs 97,600 (gram: Rs 12,200), the highest it has recorded this year, only to fall later.
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.
Gold prices have recorded a massive surge from Rs 57,200 per sovereign (Rs 7,150 per gram) at the start of the year to Rs 89,680 today (October 29), a growth of Rs 32,480, or roughly 56.7%.
However, after a straight breakneck climb, the yellow metal has been on an on and off decline since the past week. Commenting on this decrease, S Santha Kumar, secretary, The Jewellers and Diamond Traders Association – Madras, had attributed it to the inflation prevailing in the US economy, saying it has nothing to do with any domestic reasons.
However, Santha Kumar had also predicted that gold is likely to go up again by next week. “It is expected to cross Rs 1 lakh per sovereign by November."
A gram of silver costs Rs 166 on October 29, marking an increase of Re 1 (Rs 166,000/kilogram) from October 28.A gram of silver was priced at Rs 98 on January 1, and today it trades at Rs 166, marking a rise of Rs 68, or 69.3%.
Gold price (22-carat) over the last five days:
October 28, 2025 - 1 sovereign: Rs 88,600, 1 gram: Rs 11,075
October 27, 2025 - 1 sovereign: Rs 91,600, 1 gram: Rs 11,450
October 25, 2025 - 1 sovereign: Rs 92,000, 1 gram: Rs 11,500
October 24, 2025 - 1 sovereign: Rs 91,200, 1 gram: Rs 11,400
October 23, 2025 - 1 sovereign: Rs 92,000, 1 gram: Rs 11,500
Silver price over the last five days:
October 28, 2025 - 1 gram: Rs 165
October 27, 2025 - 1 gram: Rs 170
October 25, 2025 - 1 gram: Rs 170
October 24, 2025 - 1 gram: Rs 170
October 23, 2025 - 1 gram: Rs 174