Gold price plunges by Rs 1,080 per sovereign in Chennai; check out price in Chennai on November 12
According to Maalaimalar, the price of 22-karat gold fell by Rs 135 per gram to Rs 7,085, which works out to a steep fall of Rs 1,080 per sovereign (8 grams). On Tuesday, gold is priced at Rs 56,680 per sovereign.
A customer purchasing Gold Jewellery from a showroom (File Photo)
CHENNAI: The price of gold in Chennai has seen a significant drop on November 12, continuing a recent trend of declining rates.
According to Maalaimalar, the price of 22-karat gold fell by Rs 135 per gram to Rs 7,085, which works out to a steep fall of Rs 1,080 per sovereign (8 grams). On Tuesday, gold is priced at Rs 56,680 per sovereign.
Silver prices also dipped, with one gram now selling at Rs 100, down by Rs 2.
Market analysts suggest that the dip in gold prices is primarily due to decreased demand and the strengthening of the Indian rupee against the US dollar in international markets.
Gold price (per sovereign):
12-11-2024: Rs 56,680
11-11-2024: Rs 57,760
10-11-2024: Rs 58,200
09-11-2024: Rs 58,200
08-11-2024: Rs 58,280
07-11-2024: Rs 57,600
Silver price (per gram):
12-11-2024: Rs 100
11-11-2024: Rs 102
10-11-2024: Rs 103
09-11-2024: Rs 103
08-11-2024: Rs 103
07-11-2024: Rs 102