Gold prices witnessed a sharp decline in the international market today, with the price per ounce falling by $130.98 (approximately ₹12,225). This marks a drop of 2.74%, bringing the current trading price to $4,367 per ounce.
Market analysts attribute this sudden decline to global economic fluctuations, which have significantly impacted gold demand and pricing trends.
Following this downturn in the global market, gold prices in India are also expected to soften in the coming days. However, as of now, prices in Chennai remain relatively high. Gold is currently being sold at ₹13,340 per gram and ₹1,06,720 per sovereign.
Experts suggest that if the global trend continues, domestic prices may soon reflect further reductions.
