Chennai: In a significant development for gold buyers, the price of gold in Chennai decreased by Rs 560 per sovereign on Wednesday, bringing the rate down to Rs 50,640 per sovereign.
This decline comes amid a period of fluctuating gold prices in Tamil Nadu over the past few days.
The price of gold per gram has also seen a reduction, decreasing by Rs 70 and now being sold at Rs 6,330 per gram. The drop in gold prices has attracted attention from both buyers and market analysts, as gold remains a popular investment and gift option in the state.
Silver prices have also witnessed a slight decline, with the metal now being sold at Rs 87 per gram, a decrease of Rs 0.50 paise.
The fluctuation in gold and silver prices is being closely monitored, as these changes can impact consumer buying behavior, especially in a market where precious metals are considered significant for cultural and investment purposes.