CHENNAI: Continuing its breakneck climb, the price of 22-carat gold in Chennai rose on Wednesday (Oct 15), reaching Rs 94,880 per sovereign (1 sovereign = 8 gram). Accordingly, the per-gram rate rose by Rs 280 to Rs 11,860.

On October 14 (Tuesday), gold rose by reaching a record Rs 94,600, while the gram rate increased by Rs 245 to Rs 11,825

Gold has seen a record rally this year as traders turned to the safe-haven asset amid geopolitical and economic uncertainty, driven by the ongoing US shutdown and the global trade war President Donald Trump unleashed, including on India. Bullion is on track for its best year since 1979, when the Tehran revolution impacted global markets. Silver has also climbed to all-time highs, boosted by a weak dollar and strong central bank and investment buying

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