CHENNAI: The occasion of Akshaya Tritiya has sparked a significant surge in gold prices in Chennai for the third time on a single day.
Accordingly, the price of gold has increased by Rs 1240 per sovereign.
In the morning, the price of 22-carat gold has witnessed a initial increase of Rs 360 per sovereign and being sold at Rs 53,280.
Again rosed by Rs 360, the yellow metal was sold at Rs 53,640.
In this situation, the price has once again increased by Rs 520 per sovereign and now being sold at Rs 54,160.
Accordingly, per gram of gold rose by Rs 65 and sold at Rs 6,770.
Silver price also spikes by Rs 1.20, costing Rs 91.20 per gram, compared to its price of Rs 90 in the morning.
Akshaya Tritiya, also known as Akti or Akha Teej, is an annual Hindu and Jain spring festival. As the day falls on the third lunar day of the bright half of the Hindu month of Vaishakha, it is considered auspicious.
Buying gold on this day is a tradition, as worshipping Lord Kuber on this day is believed to bring eternal prosperity.