Chennai, November 3 — The price of gold witnessed a dip in Chennai today, with rates falling by Rs 120 per sovereign. As of Saturday, one sovereign of gold is priced at Rs 58,960 in the city, a decline from previous highs seen in mid-October. Gold per gram has also decreased by Rs 15, now retailing at Rs 7,370.
The recent price reduction comes after significant increases last month, when gold surpassed Rs 57,000 per sovereign on October 17, and then climbed further to Rs 58,000 on October 19. The current decline may offer some respite to buyers amid fluctuating prices in the precious metals market.
Meanwhile, silver prices remain stable. The metal continues to be sold at Rs 106 per gram, with no change from previous rates.
These price changes are crucial for jewelry buyers and investors as they reflect the current trends in the gold and silver markets. With the festive season approaching, the price shift may impact buying patterns in the coming days.
