India's gold price jumps to Rs 1.1 million per sovereign in Chennai

On August 6, 2026 the price of 22‑carat gold in Chennai rose by Rs 2,160 per sovereign, reaching Rs 1,10,000 (about Rs 13,750 per gram). The increase represents a 46.6% rise from the same date in 2025, when the metal was priced at Rs 75,040 per sovereign. Silver also edged higher, climbing to Rs 250 per gram (Rs 2,50,000 per kilogram).

Two days later, on August 8, 2026, gold prices continued to climb across major Indian cities. Futures on the Multi Commodity Exchange (MCX) opened near Rs 1,49,029 per 10 grams and touched an intraday high of about Rs 1,49,700, while 24‑carat gold traded around Rs 1,49,900 per 10 grams. The rise was attributed to global bullion firming on safe‑haven demand amid US‑Iran tensions and lower US Treasury yields. Silver futures also rose, reaching roughly Rs 2,28,397 per kilogram.