CHENNAI: The gold rate in the city surged by Rs 1,600 on December 13 in a single session. The yellow metal is now priced at Rs 98,000 per sovereign (8 grams) and Rs 12,250 per gram, a rise of Rs 200. This marks the highest in December.

On December 11, gold was priced at Rs 96,400 per sovereign (8 grams) and Rs 12,050 per gram, after rising by Rs 20.

On November 29, the price of the yellow metal was 95,840 per sovereign (Rs 11,980 per gram)—the highest price in November, a month that saw sharp fluctuations, with rates even dipping below Rs 90,000 per sovereign.

Earlier, gold had surged to Rs 97,600 per sovereign (Rs 12,200 per gram) on October 17, the highest this year, before dropping to Rs 88,600 per sovereign (Rs 11,075 per gram) on October 28.

The current gold rally is supported by

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