Gold price RISES on September 5th: Check 22k, 24k gold rates in your city

Gold prices in Chennai rose by ₹70 per gram to ₹9,865. Similarly, one sovereign of gold increased by ₹560 to ₹78,920. Gold sellers attribute this to increased investment in gold by international investors. Silver prices decreased by ₹1 per gram to ₹136. 1 kg of silver bar costs ₹136,000.

Gold prices in Madurai, Coimbatore, Thoothukudi, and Trichy are also at ₹9,865. Market experts say that the middle class considers gold a safe investment and tends to invest in it whenever they have spare cash, regardless of price fluctuations.

Since this price will reflect in the retail market, it’s crucial for buyers to plan their purchases. US President Donald Trump’s tax plan and the rift in US relations with other countries are impacting international trade. This is causing gold prices to rise continuously. The excessive debt and fiscal deficit in the US are also expected to cause problems for the country’s economy, leading to increased investment in gold. Experts suggest that lower-income individuals might want to wait before investing in gold.