Gold prices witnessed a fresh increase in Chennai on Friday, with the rate rising by Rs 800 per sovereign after recent fluctuations over the past few days.
According to market sources, the price of 22-carat gold increased by Rs 100 per gram to Rs 13,850, while a sovereign (8 grams) is now being sold at Rs 1,10,800.
The latest rise comes after a sharp decline on Thursday, when gold prices fell by Rs 300 per gram and Rs 2,400 per sovereign in a single day, bringing the rate down to Rs 13,750 per gram and Rs 1,10,000 per sovereign.
Gold prices have remained volatile since March 25, with significant ups and downs recorded in recent days. On April 1, the price had surged to Rs 1,12,400 per sovereign before witnessing corrections.
Meanwhile, silver prices remained unchanged on Friday. Silver is being sold at Rs 255 per gram, with a kilogram priced at Rs 2.55 lakh.
Market observers attribute the fluctuation in prices to global trends and demand variations, with investors closely tracking further movements in the coming days.
