Gold prices in Chennai have taken a sharp dip today, offering a welcome opportunity for buyers ahead of the upcoming festive and wedding season.
According to the latest market update, the price of 22-carat gold has dropped by ₹400 per sovereign. It is now being sold at ₹14,250 per gram, bringing the price of one sovereign (8 grams) to ₹1,14,000.
Silver prices have also seen a decline alongside gold. The current rate of silver stands at ₹275 per gram, while 1 kilogram of silver is priced at ₹2,75,000.
Market Insight
The sudden drop in gold prices follows recent fluctuations in the market. Industry experts attribute this decline to global market movements and profit booking by investors. With several auspicious occasions approaching, this price correction is likely to encourage increased buying interest among customers.
