Gold Prices Fall Further in Chennai; Evening Rates Drop Again
Gold prices in Chennai continued their downward trend today, with fresh declines recorded in the evening session after a sharp fall earlier in the day.
In the morning, gold prices had already seen a major drop, falling by ₹5,360 per sovereign. The rate for 22-carat gold stood at ₹12,950 per gram, while one sovereign was priced at ₹1,03,600. Silver prices also declined by ₹15 per gram, reflecting the overall weakness in precious metals.
However, the fall did not stop there.
By evening, gold prices dropped further by ₹2,240 per sovereign, bringing the rate down to ₹1,01,360. On a per gram basis, ornamental gold prices fell by ₹280 to ₹12,670.
Overall, within a single day, gold prices in Chennai have recorded a massive decline of ₹7,600 per sovereign, marking one of the sharpest drops in recent times.
Market experts say this continued fall is mainly due to a significant drop in international gold prices, which has directly impacted the Indian market. The trend has created strong interest among buyers, while traders and jewellers are closely monitoring the situation.
For consumers, this may present a good opportunity to buy at lower prices. However, experts advise caution, as gold rates are currently volatile and may continue to fluctuate based on global market conditions in the coming days.
