CHENNAI: The price of gold hit a new lifetime high in Chennai after it surged by Rs 160 per sovereign on Tuesday.

Following the rise, the yellow metal is being sold at Rs 56,000 per sovereign in the city.

After the latest rise in price by Rs 20 per gram, it is being sold at Rs 7,000 per gram.

The price of gold in Tamil Nadu has been fluctuating for the past few days.

The price of silver remains stable and is being sold at Rs 98 per gram.