A sovereign of gold in Chennai costs Rs 92,640 on Oct 13; is this the right time to buy?
Gold prices have surged from Rs 57,200 per sovereign (Rs 7,150 per gram) at the start of the year to Rs 92,640 today (October 13), a massive surge of Rs 35,440, or roughly 62%.
CHENNAI: Continuing its breakneck climb, the price of 22-carat gold in Chennai rose by Rs 440 on Monday afternoon (Oct 13), reaching Rs 92,640 per sovereign (1 sovereign = 8 gram). Accordingly, the per-gram rate rose by Rs 55 to Rs 11,580.
This morning, gold rose by Rs 200 per sovereign, reaching a record Rs 92,200, while the gram rate increased by Rs 165 to Rs 11,525. With the combined morning and evening trades, gold saw a total single-day rise of Rs 640 per sovereign.
On October 11 (Saturday), 22-carat gold had increased by Rs 680 per sovereign to sell for Rs 91,400 a sovereign (Rs 11,425/gram). By evening, prices again rose by Rs 600 to Rs 92,000 a sovereign (Rs 11,500/gram).
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 92,640 today (October 13), a massive surge of Rs 35,440, or roughly 62%.
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 2, and now cost Rs 197/gram.
A gram of silver was priced at Rs 98 on January 1, and today it trades at Rs 197, marking a rise of Rs 99, or 101%. This means a kilogram of silver has increased from Rs 98,000 to Rs 1,97,000
Gold price (22-carat) over the last five days:
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
October 7, 2025 - 1 sovereign: Rs 89,600, 1 gram: Rs 11,200
Silver price over the last five days:
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
