CHENNAI: Gold grew costlier by Rs 400 on Saturday (October 4), reaching an all-time high Rs 87,600 per sovereign and Rs 10,950 per gram, for the third time this month. The yellow metal had touched the same rate on October 1 and 2.

On October 3, in the morning session, 22-carat gold had dropped by Rs 880 per sovereign (1 sovereign = 8 grams) to sell for Rs 86,720 a sovereign (Rs 10,840/gram). By evening, prices rose by Rs 480 to Rs 87,200 a sovereign (Rs 10,900/gram). This marked the third consecutive day of evening gains.

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. Gold has surged 52.2% this year, jumping from Rs 57,200 at the start of the year

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