CHENNAI: Gold price is showing no sign of slowing down, recording a rise of Rs 1,000 per gram in just 30 days to reach a historic high of Rs 11,125 per gram and Rs 89,000 per sovereign in Chennai on Monday.

To put this breakneck speed in context, it took two years from March 7, 2022, to March 3, 2024, for it to rise by Rs 1,000, and seven months since then to climb further by another Rs 1,000.

“The main reason for the increase in gold price is the changes in the geopolitical situation, especially the developments in the United States. To strengthen its economy, they started hoarding gold, and many other countries are also purchasing it," said S Santha Kumar, secretary, the Jewellers and Diamond Traders Association - Madras.

"It is expected to cross Rs 12,500 per gram (Rs 1 lakh per sov

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