Chennai gold rate up by Rs 296 per sovereign Posted On : 15-Oct-2015

Chennai gold rate up by Rs 296 per sovereign

Within 24 hours, the rate of gold in Chennai market went up by Rs 296 per sovereign (eight grams) on October 14 (Wednesday), sending shock
waves among buyers.

On October 12 (Monday), the rate of gold witnessed a rise of Rs 200 and touched Rs 20,208 per eight grams at the end of the trade. There
was some solace in store the next day, as the price went down by Rs.210 (Rs 20,088).

However on Wednesday, the rate shot up again. At the end of the trade, gold in Chennai market was trading at Rs 20,384 per sovereign, Rs 296
higher than the previous day. This has shocked gold lovers.

"But it is only a happy news for those who had already invested in gold," said Sekar G, an analyst. Meanwhile, with trends predicting
that the price will go high in the coming days, many people have started feeling that this is the right season to buy gold, as various offers are in store.