Chennai, June 19:
Gold prices in Chennai witnessed a steep fall on June 19, dropping by Rs 3,040 per sovereign (8 grams) and Rs 380 per gram, marking a significant correction in the bullion market.
Following the decline, gold is now priced at Rs 1,08,560 per sovereign and Rs 13,570 per gram. This comes a day after June 18 rates stood at Rs 1,12,480 per sovereign and Rs 14,060 per gram, indicating a notable one-day dip.
Silver prices have also registered a decline alongside gold. On June 19, silver is being sold at Rs 255 per gram (Rs 2,55,000 per kg), compared to Rs 270 per gram (Rs 2,70,000 per kg) on June 18, reflecting a fall of Rs 15 per gram.
Despite the current drop, gold prices remain significantly higher compared to last year. On June 19, 2025, gold was priced at Rs 74,120 per sovereign (Rs 9,265 per gram). The current price of Rs 1,08,560 per sovereign (Rs 13,570 per gram) represents a sharp increase of Rs 34,440, or approximately 46.46% over the past year.
The sharp fall in prices comes after a period of fluctuations in the bullion market, with gold showing volatility over the past few days. While the current dip may offer temporary relief for buyers, overall prices continue to remain elevated compared to historical levels.