Chennai: The price of gold in Chennai witnessed a significant reduction on Monday, dropping by Rs 352 per sovereign. The current price stands at Rs 53,328 per sovereign, down from Sunday’s rate of Rs 53,680.
This decrease translates to a reduction of Rs 44 per gram, with the price now set at Rs 6,666 per gram. The gold market in Tamil Nadu has been experiencing considerable fluctuations over the past several days, reflecting broader trends in the precious metals market.
In addition to the dip in gold prices, silver also saw a decrease. The price of silver fell by Rs 0.70 paise per gram, bringing the current rate to Rs 97.30 per gram.
The fluctuations in the prices of gold and silver are influenced by a variety of factors, including global market trends, currency exchange rates, and local demand. Investors and consumers alike are closely monitoring these changes as they impact both investment decisions and retail purchases.