CHENNAI: Amid yet another relentless rally, the price of 22-carat gold in Chennai increased by a steep Rs 800 per sovereign (1 sovereign = 8 grams) on October 8 (Wednesday), touching an all-time high of Rs 90,400 per sovereign. Accordingly, the per-gram rate rose by Rs 100 to Rs 11,300.

On October 7 (Tuesday), 22-carat gold had increased by Rs 600 per sovereign (1 sovereign = 8 grams) to sell for Rs 89,600 a sovereign (Rs 11,200/gram).

Between October 4 and 8, across just five days, gold rose by Rs 2800 per sovereign (Rs 350 per gram) to touch Rs 90,400 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 President Donald Trump unleashed on the world, including India.

From Rs 57,200 per sovereign on January

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