CHENNAI: The price of 22-carat gold in Chennai rose once again by Rs 200 on Thursday afternoon (Oct 9), reaching a new all-time high of Rs 91,400 per sovereign (1 sovereign = 8 gram). Accordingly, the per-gram rate rose by Rs 25 to Rs 11,425.

This morning, gold surged by Rs 120 per sovereign, reaching a record Rs 91,200, while the gram rate rose by Rs 15 to Rs 11,400.

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 1, it touched Rs 63,240 by February 5, and Rs 66,400 by March 14 after a single-day gain of Rs 1,440. On April 22, it jumped Rs 2,200 to Rs 74,320. The Rs 75,000 mark was crossed twice — on July 2

See Full Page