Gold Prices Continue to Fall in Tamil Nadu, Down ₹295 Per Gram This Week

Gold prices continued to decline in Tamil Nadu on Saturday, September 26, bringing some relief to buyers after a week of largely falling prices. The price of 22-carat ornamental gold dropped by ₹10 per gram today, taking the rate to ₹14,000 per gram. A sovereign (8 grams) is now priced at ₹1,12,000 in Chennai, Coimbatore, Madurai, Trichy and other cities across the state.

Gold prices have witnessed a notable decline this week. The price fell by ₹15 per gram on Monday, ₹85 on Tuesday, ₹50 on Wednesday and ₹135 on Thursday. Although gold prices increased by ₹10 per gram on Friday, they fell again by ₹10 today.

Overall, the price of 22-carat gold has declined by ₹295 per gram this week, translating into a drop of ₹2,360 per sovereign. Gold prices have been fluctuating since the beginning of September, but this week has seen a more consistent downward trend, with prices falling on five of the six trading days.

Meanwhile, 24-carat gold has declined by ₹11 per gram and is currently priced at ₹15,273 per gram. The price of 10 grams stands at ₹1,52,730. Eighteen-carat gold is priced at ₹11,770 per gram, while a sovereign costs ₹94,160.

Silver prices remained unchanged today. Silver is currently priced at ₹250 per gram, or ₹2.50 lakh per kilogram, across Tamil Nadu.

Global developments, including the Iran-US conflict, crude oil prices and movements in the US dollar, continue to influence precious metal prices. Any major changes in geopolitical tensions or global markets could affect gold and silver prices in the coming week.