2024-04-14 23:43:00
Chennai: Gold prices in Chennai rose by Rs 600 in a single day yesterday to touch a new high of Rs 54,840. The price of gold is determined based on the international economic environment and the value of the Indian rupee against the US dollar.
Last year’s sharp drop in gold prices, on October 4, 2023, was sold at Rs.42,280 per pound. After this, the price of gold, which increased in response to the Israel-Palestine war, rose continuously and reached a new high of Rs.47,800 to the pound on December 4.
Last month the price of gold started to rise sharply. Accordingly, on March 28, a pound reached an all-time high of Rs.50,000. Since then the price of gold has been on the rise. Specifically, on April 7, one pound was sold at Rs.52,920. Later, it rose day by day and increased to Rs 54,440 on 12th. Gold prices hit new highs consecutively on these 5 days.
The day before yesterday (April 13) the price decreased slightly. In this situation, the price of gold rose after a long time on Sunday. Yesterday, a gram was sold at Rs.6,780 and a pound was sold at Rs.54,240. Thus, one gram was sold at Rs.6,855 and one pound at Rs.54,840 yesterday.
24 carat pure gold was sold at Rs 7,325 per gram and Rs 58,600 per pound. No change in silver price. The price of one gram of silver remained at Rs.89 and one kg bar of silver at Rs.89,000 yesterday.
Chennai Gold and Diamond Jewellers’ Association General Secretary S. Shanthakumar said, “The global economic downturn continues. Demand increases due to investment in gold. People are buying gold by competing in the local market as well as in the foreign market.
Due to this, the price is increasing. The usual price set on Saturday will continue on Sunday. After many months, gold prices rose on Sunday. This is due to the increased demand for gold. This price increase will be seen for a few days. On April 15 (today), there is a possibility that the price of the pound will cross Rs.55,000,” he said.
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