Gold prices witnessed a steep correction in the city over the last two days, offering some relief to buyers after a prolonged surge. The price of 22-carat gold fell by ₹7,600 per sovereign today, taking the total decline to ₹15,200 per sovereign in just two days, according to bullion traders.
On Thursday, a sovereign (8 grams) of 22-carat gold was priced at ₹1,19,200, while the rate per gram stood at around ₹14,900, down by ₹950. On Wednesday, gold had been trading at around ₹1,34,400 per sovereign, highlighting the sharpness of the recent fall.
Silver prices also eased during the period. Silver was selling at around ₹350 per gram and ₹3.55 lakh per kilogram, reflecting a drop of nearly ₹75 per gram over the last two days.