Day after Diwali, Chennai gold price records Rs 1,440 dip, sovereign costs Rs 96,000 in evening trade
Planning to buy gold today? Check out the latest gold rates in Chennai before you head to the jewelers.
CHENNAI: A day after Deepavali, the price of 22-carat gold fell by Rs 1,440 on October 21 evening (Tuesday), putting a pause in its breakneck climb. A sovereign (1 sovereign = 8 gram) now costs Rs 96,000. Accordingly, the per-gram rate dipped by Rs 180 to Rs 12,000 in the evening session.
In the morning session today, gold had recorded a Rs 2,080 rise to sell for Rs 97,440 per sovereign (Rs 12,180: 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, too, had climbed to all-time highs, boosted by a weak dollar and strong central bank and investment buying, but is now on a decline.
Gold prices have surged from Rs 57,200 per sovereign (Rs 7,150 per gram) at the start of the year to Rs 96,000 (Rs 12,000 per gram) today (October 21), marking a growth of Rs 38,800, or roughly 67.83%.
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.
On the other hand, silver prices, which had crossed a record Rs 200/gram this month, are now on a decline. Today evening (Oct 21), silver dipped by Rs 6, and now costs Rs 182/gram (Rs 1,82,000/kilogram). In the morning, a gram of silver was sold for Rs 188.
Gold price (22-carat) over the last five days:
October 20, 2025 - 1 sovereign: Rs 95,360, 1 gram: Rs 11,920
October 18, 2025 - 1 sovereign: Rs 95,600, 1 gram: Rs 11,950
October 17, 2025 - 1 sovereign: Rs 97,600, 1 gram: Rs 12,200
October 16, 2025 - 1 sovereign: Rs 95,200, 1 gram: Rs 11,900
October 15, 2025 - 1 sovereign: Rs 94,880, 1 gram: Rs 11,860
Silver price over the last five days:
October 20, 2025 - 1 gram: Rs 190
October 18, 2025 - 1 gram: Rs 190
October 17, 2025 - 1 gram: Rs 203
October 16, 2025 - 1 gram: Rs 206
October 15, 2025 - 1 gram: Rs 207
