Gold Price Falls Sharply in Chennai: ₹1,880 Drop per Sovereign

Chennai, September 28: Gold prices have fallen sharply in Chennai today, bringing some relief to jewellery buyers. The price of 22-carat gold has declined by ₹235 per gram, while the price of a sovereign (8 grams) has dropped by ₹1,880.

Silver prices have also moved lower, with the price falling by ₹5 per gram and ₹5,000 per kilogram.

Today`s Gold Price

The price of 22-carat gold today stands at:

- 1 gram: ₹13,765

- 1 sovereign (8 grams): ₹1,10,120

- Today`s fall: ₹235 per gram / ₹1,880 per sovereign

Silver Price Today

Silver prices have also declined:

- 1 gram: ₹245

- 1 kilogram: ₹2,45,000

- Today`s fall: ₹5 per gram / ₹5,000 per kilogram

Gold Has Seen a Decline Over the Past Week

Gold prices have been moving lower in recent days. The price of a sovereign fell by around ₹2,280 over the previous week, followed by another significant decline today.

On Sunday, September 27, there was no change in gold or silver prices. The previous rate was ₹14,000 per gram and ₹1,12,000 per sovereign for gold, while silver was priced at ₹250 per gram.

What Does the Price Drop Mean for Buyers?

The recent decline could provide some relief to people planning to purchase gold jewellery. At the same time, gold prices can remain volatile as market conditions, global economic developments and investment demand influence prices.

While jewellery purchases may vary depending on prices and seasonal demand, gold continues to attract investors as an asset class.

Note: Gold and silver prices can change during the day. Jewellery prices may also vary depending on making charges, wastage, GST and other applicable costs.