The price of gold in Chennai saw a decline today (November 28), with the rate of ornamental gold dropping by ₹120 per sovereign to ₹56,720 and by ₹15 per gram to ₹7,090.
The fluctuation in gold prices is influenced by global market trends, making it challenging to predict. Over the past few days, prices have shown a volatile pattern, with sudden spikes followed by drops.
Yesterday (November 27), gold prices rose by ₹200 per sovereign, with a sovereign priced at ₹56,840 and a gram at ₹7,105. However, today’s drop of ₹120 per sovereign and ₹15 per gram marks a reversal of yesterday’s increase.
Such fluctuations highlight the unpredictable nature of gold prices in the current market scenario.