CHENNAI: Gold prices in the city rose by Rs 800 on Wednesday (November 19) after a steep Rs 1,120 drop yesterday. With this, a sovereign (8 gram) now costs Rs 92,000, while the per-gram rate has increased by Rs 100 to Rs. 11,500.

Just a day earlier, on Tuesday (November 18), a sovereign of gold had slipped to Rs 91,200 (Rs 11,400 per gram) from Rs 92,320 (Rs 11,540 per gram).

On November 13, a sovereign had cost Rs 95,200, the highest rate gold touched this month.

The present seesaw trend follows a meteoric rise last month, when gold had surged to Rs 97,600 per sovereign (Rs 12,200 per gram) on October 17,the highest this year, before plunging to Rs 88,600/sovereign (Rs 11,075/gram) on October 28.

Gold has rallied significantly this year as investors turned to the safe-haven asset amid

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