Chennai Gold News: Gold Prices Continue Downward Trend Amid Global Market Volatility
Gold prices in Chennai continued their downward trend today, providing relief to jewellery buyers and investors. The price of 22-carat gold dropped by ₹1,040 per sovereign, extending the decline seen over the past week.
According to the latest bullion market rates, 22-carat gold is being sold at ₹14,070 per gram and ₹1,12,560 per sovereign, while 24-carat gold is priced at ₹1,22,792 per sovereign. The price of 18-carat gold has also fallen to ₹94,360 per sovereign.
Market data indicates that gold prices have been steadily declining since June 1. During this period, the price of 22-carat gold has fallen by a total of ₹4,480 per sovereign in Chennai, making it one of the biggest corrections witnessed in recent weeks.
Meanwhile, silver prices remained unchanged in today`s trading session. Silver is currently being sold at ₹270 per gram and ₹2,70,000 per kilogram in the Chennai bullion market.
Experts attribute the fluctuations in gold prices to global economic conditions, geopolitical tensions in the Middle East, crude oil price movements, currency exchange rates, and changing investor sentiment in international bullion markets. With wedding season demand and investment interest remaining strong, buyers are closely tracking daily gold rate movements for favorable purchasing opportunities.
