Gold price increases by Rs 560 per sovereign in Chennai on November 19
The slight rise came on the back of the recent decline in price. In the Chennai market, gold is now being sold at Rs 7,065 per gram, recording an increase of Rs 560 per sovereign, bringing the rate on Tuesday to Rs 56,520 per sovereign.
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CHENNAI: The price of 22-carat gold in Chennai saw an increase of Rs 70 per gram on November 19.
The slight rise came on the back of the recent decline in price. In the Chennai market, gold is now being sold at Rs 7,065 per gram, recording an increase of Rs 560 per sovereign, bringing the rate on Tuesday to Rs 56,520 per sovereign.
On October 30, gold price reached an all-time high of Rs 59,520 per sovereign, with some analysts predicting that the price could cross Rs 60,000. However, following that peak, the market experienced a sharp downward trend.
On November 14, gold price had dropped by Rs 880 per sovereign, bringing it down to Rs 55,480 per sovereign.
Meanwhile, silver prices saw a slight increase, with one gram now selling at Rs 101, up by Rs 2.