Chennai witnessed a significant drop in gold prices on Monday (February 3), with the yellow metal falling by ₹680 per sovereign. This comes after gold had reached an all-time high on January 31, surging by ₹960 in a single day. Currently, gold is being sold at ₹61,640 per sovereign in the city.
Gold Price Fluctuations Over the Past Weeks
The price of gold has been on a rollercoaster ride in the past few days. On January 22, it crossed the ₹60,000 mark, selling at ₹60,200 per sovereign. The upward trend continued as it rose to ₹60,440 on January 24. However, after remaining steady for three days, prices dipped.