Chennai, June 6:
Gold prices witnessed a significant decline on June 6, bringing relief to buyers after recent highs.
The price of the yellow metal dropped by Rs 1,840 per sovereign (8 grams) and Rs 230 per gram in the city.
Following the fall, gold is now being sold at Rs 1,13,600 per sovereign and Rs 14,200 per gram.
On the previous day, June 5, gold was priced higher at Rs 1,15,440 per sovereign and Rs 14,430 per gram, indicating a notable day-to-day correction in rates.
Silver prices also registered a decline alongside gold. On June 6, silver is being sold at Rs 270 per gram (Rs 2,70,000 per kg), down by Rs 10 compared to June 5, when it was priced at Rs 280 per gram (Rs 2,80,000 per kg).
Despite the current drop, gold prices remain significantly higher compared to last year. On June 6, 2025, gold was priced at Rs 73,040 per sovereign (Rs 9,130 per gram).
The current rate of Rs 1,13,600 per sovereign reflects an increase of Rs 40,560, marking a sharp rise of about 55.53% over the year.
A look at the recent trend shows that gold prices have been gradually declining over the past few days.
On June 5, the price stood at Rs 1,15,440 per sovereign, while it was Rs 1,15,840 on June 4.
On June 3, 2, and 1, gold remained steady at Rs 1,16,000 per sovereign, indicating a downward movement in the market in recent sessions.
Market observers attribute the fluctuation to changing global trends and investor sentiment, with further price movements expected to depend on international market conditions and currency fluctuations.