Chennai gold price rises by Rs 1,120 in single day, crosses Rs 85,000 mark on September 23, 2025
Over the past 23 days of this month, gold has become costlier by Rs 7,480 per sovereign and Rs 935 per gram, which adds up to a 9.6 per cent growth in three weeks.
CHENNAI: Gold prices in the city touched a new peak on Tuesday (September 23), crossing Rs 85,000 per sovereign (1 sovereign = 8 grams) for the first time this year. In a single day, the price of 22-carat gold has risen by Rs 1,120, to sell at Rs 85,120 per sovereign, and Rs 10,640 per gram. In the morning, a sovereign had cost Rs 84,000, and a gram had cost Rs 10,500. Compared to Monday's rate of Rs 83,440, the overall rise today is Rs 1,680.
Over the past 23 days of this month, gold has become costlier by Rs 7,480 per sovereign and Rs 935 per gram, which adds up to a 9.6 per cent growth in three weeks. It was priced at Rs 77,640 per sovereign (Rs 9,705 per gram) on September 1. Traders said global and domestic economic factors are driving the sharp rise.
The current upward trend began earlier this month when gold first crossed Rs 80,000 per sovereign on September 6. Since then, prices have risen steadily: Rs 81,000 on September 9, Rs 82,000 on September 16, and Rs 83,000 earlier this week. Tuesday’s steep increase pushed prices to their highest level yet.
While the gold price has been inching forward for most of the year, what triggered the recent rally is the trade war that US President Donald Trump unleashed on the world, including India. From Rs 57,200 per sovereign on January 1, it 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.
Gold has climbed nearly 49 per cent since the start of the year, rising from Rs 57,200 per sovereign (Rs 7,150 per gram) on January 1 to Rs 85,120 per sovereign (Rs 10,640 per gram) today.
According to Gold Guru Santhakumar, secretary of Madras Jewellers and Diamond Traders Association, the US Federal Reserve’s decision to cut interest rates and the weakening of the Indian rupee against the US dollar have shifted investor demand towards gold. He added that the metal continues to be seen as a safe investment, fuelling demand and prices.
On the other hand, silver prices also surged on Tuesday evening, rising by Re 1 per gram to close at Rs 150 per gram and Rs 1,50,000 per kilogram.
With no signs of a slowdown, traders and consumers alike are closely watching the bullion market for further movement.
Gold price (22-carat) over the last five days:
September 22, 2025 - 1 sovereign: Rs 83,440, 1 gram: Rs 10,430
September 20, 2025 - 1 sovereign: Rs 82,320, 1 gram: Rs 10,290
September 19, 2025 - 1 sovereign: Rs 81,840, 1 gram: Rs 10,230
September 18, 2025 - 1 sovereign: Rs 82,760, 1 gram: Rs 10,220
September 17, 2025 - 1 sovereign: Rs 82,160, 1 gram: Rs 10,270
Silver price over the last five days:
September 22, 2025 - 1 gram: Rs 148
September 20, 2025 - 1 gram: Rs 145
September 19, 2025 - 1 gram: Rs 143
September 18, 2025 - 1 gram: Rs 141
September 17, 2025 – 1 gram: Rs 142
