Gold prices in Tamil Nadu have witnessed a significant decline over the past two days, offering some relief to buyers amid fluctuating global trends.
The price of 22-carat gold dropped by ₹680 per sovereign on Tuesday alone, bringing the total fall over two days to ₹1,280 per sovereign.
On June 23, the price of gold stood at ₹73,840 per sovereign (₹9,230 per gram). By June 24, it had dipped to ₹73,240, and today, it further dropped to ₹72,560 per sovereign (₹9,070 per gram). This marks one of the steepest short-term declines in recent weeks.
Experts attribute the price drop to easing global tensions and corrections in international bullion markets. The decline is expected to boost consumer interest, particularly ahead of upcoming festivals and wedding seasons. Jewelers anticipate increased footfall, while investors remain cautiously optimistic about potential rebounds.