CHENNAI: Amid yet another relentless rally, the price of 22-carat gold in Chennai increased by a steep Rs 600 per sovereign (1 sovereign = 8 grams) on October 7 (Tuesday), touching an all-time high of Rs 89,600 per sovereign. Accordingly, the per-gram rate rose by Rs 75 to Rs 11,200.

On October 6 (Monday), in the morning session, 22-carat gold had increased by Rs 880 per sovereign (1 sovereign = 8 grams) to sell for Rs 88,480 a sovereign (Rs 11,060/gram). By evening, prices again rose by Rs 520 to Rs 89,000 a sovereign (Rs 11,125/gram).

Between October 4 and 7, across just four days, gold rose by Rs 2000 per sovereign (Rs 250 per gram) to touch Rs 89,600 today.

While the gold price has been inching forward for most of the year, what triggered the recent rally is the trade war that US P

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