Gold prices in Chennai saw a dip on June 16, 2025, bringing some respite to buyers after recent fluctuations in the bullion market. According to official sources, the price of 22-carat gold dropped by ā¹15 per gram, translating to a reduction of ā¹120 per sovereign. The updated rate stood at ā¹71,880 per sovereign, down from ā¹72,000 the previous day.The fall in prices is attributed to a combination of factors including international gold market trends, strengthening of the rupee, and subdued local demand. Analysts note that the price movement is in line with global corrections as investors remain cautious over geopolitical tensions and expected interest rate decisions by major economies.
Jewellers in Chennai noted a slight increase in footfall following the price drop, with many consumers considering this an ideal time to make purchases for upcoming events. However, they also cautioned that volatility may continue, urging buyers to stay informed about daily rate changes before making investment decisions.