Gold Price Falls by Rs. 1,560 Per Sovereign in a Single Day
Gold prices saw a sharp fall today, dropping by Rs. 1,560 per sovereign in a single day, bringing some relief to buyers.
Due to rising war tensions in the Middle East involving Israel, the United States, and Iran, many investors had earlier shifted their money to gold as a safe investment. As a result, prices had increased significantly over the weekend.
In Tamil Nadu, on March 1, gold was sold at Rs. 1,26,200 per sovereign and Rs. 15,775 per gram. Silver was priced at Rs. 325 per gram.
However, on March 3, gold prices began to fall. In the morning, the rate dropped by Rs. 80 per sovereign to Rs. 1,25,200 and by Rs. 10 per gram to Rs. 15,650. By evening, prices fell further by Rs. 1,480 per sovereign and Rs. 185 per gram.
With this, gold is now being sold at Rs. 1,23,720 per sovereign and Rs. 15,465 per gram, marking a total single-day decline of Rs. 1,560 per sovereign.
