Gold Price Falls by Rs. 1,800 per Sovereign in Chennai
The price of gold in Chennai has dropped by Rs. 1,800 per sovereign, bringing relief to buyers after several days of fluctuating rates.
In recent weeks, gold prices had surged to unprecedented levels but have been showing a gradual decline over the past few days. This week, prices fell during the first two days, then saw a sharp increase of Rs. 2,000 per sovereign on Wednesday.
As of Thursday morning, the price of 22-carat gold stands at Rs. 11,100 per gram, down by Rs. 225, while one sovereign (8 grams) is priced at Rs. 88,800.
Meanwhile, silver prices have also seen a slight dip - falling by Rs. 1 per gram to Rs. 165, with one kilogram of silver selling at Rs. 1,65,000.
The recent decline in gold prices has brought some comfort and optimism among jewelry buyers and investors in the city.
