CHENNAI: Continuing its breakneck climb, the price of 22-carat gold in Chennai rose by Rs 400 on Saturday afternoon (Oct 18), reaching Rs 96,000 per sovereign (1 sovereign = 8 grams). Accordingly, the per-gram rate rose by Rs 50 to Rs 12,000.

This morning, gold dropped by Rs 2000 on October 18 (Saturday) reaching Rs 95,600 per sovereign (1 sovereign = 8 gram). Accordingly, the per-gram rate dipped 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 yea

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