Gold rate plunges by Rs 400 in Chennai; sovereign at Rs 90,160 on Nov 7, 2025
Planning to buy gold today? Check out the latest gold rates in Chennai before you head to the jewellers.
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CHENNAI: Gold prices in Chennai witnessed a drop on Friday (November 7), dropping by Rs 400 per sovereign. The price of 22-carat gold stands at Rs 90,160 per sovereign (8 grams) and Rs 11,270 per gram and has fallen by Rs 50.
On Thursday (November 6), gold rose by Rs 1,120 in a single day, and a sovereign was priced at Rs 90,560 and Rs 11,320 per gram in the evening.
The recent price fluctuations follow a meteoric rise last month, when gold had surged to Rs 97,600 per sovereign (Rs 12,200 per gram) on October 17—the highest this year—before plunging to Rs 88,600/sovereign (Rs 11,075/gram) on October 28.
Speaking to Thanthi TV, Jayantilal Challani, Founder and Chairman of the Challani Group, attributed the frequent fluctuations to global factors. “Central banks across the world continue to buy gold, leading to a surge in prices.
The US Federal Reserve’s decision to keep gold as part of its reserves will also push prices up. Additionally, many investors are buying gold during price dips, which further drives demand,” he said.
Gold has rallied significantly this year as investors turned to the safe-haven asset amid geopolitical and economic uncertainty, driven by the ongoing US shutdown and global trade tensions.
For perspective: gold was priced at Rs 57,200 per sovereign (Rs 7,150 per gram) on January 1 this year but costs Rs 90,160 today, November 7, marking a growth of Rs 23,960, or roughly 57.6%. On October 17, it had climbed to 70.6%, owing to a record rise of Rs 40,400 per sovereign.
Meanwhile, the silver rate remains the same as the previous day. It is priced at Rs 165 per gram (Rs 165,000/kg).
Gold price (22-carat) over the last five days:
November 06,2025: 1 Sovereign- Rs 90,560 | 1 gram- Rs 11,320
November 05,2025: 1 sovereign- Rs 89,440 | 1 gram- Rs 11,180
November 04,2025: 1 sovereign- Rs 90,000 | 1 gram- Rs 11,250
November 03, 2025: 1 sovereign- Rs 90,800 | 1 gram- Rs 11,350
November 01, 2025: 1 sovereign – Rs 90,480 | 1 gram – Rs 11,310
Silver price over the last five days:
November 06, 2025: 1 gram - Rs 165
November 05, 2025: 1 gram - Rs 163
November 04, 2025: 1 gram - Rs 165
November 02, 2025: 1 gram - Rs 168
November 01, 2025: 1 gram - Rs 166
