CHENNAI: A day after gold touched an all-time high of Rs 97,600, it dropped by Rs 2000 on October 18 (Saturday) reaching Rs 95,600 per sovereign (1 sovereign = 8 gram). Accordingly, the per-gram rate rose by Rs 250 to Rs 11,950.

A day earlier, on October 17, gold rose by Rs 2,400 to sell for Rs 97,600 (per gram: Rs 12,200).

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.

Gold prices hav

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