Chennai saw another drop in gold prices on Wednesday (March 5), with 22-carat jewellery gold falling by Rs 640 per sovereign. The metal is now selling at Rs 1,20,960 per sovereign.
In gram terms, the price slipped by Rs 80 to Rs 15,120 per gram. The decline continues a recent cooling trend after prices had surged last week amid tensions involving the US, Israel and Iran.
Earlier, on March 3, jewellery gold was priced at Rs 15,465 per gram and Rs 1,23,720 per sovereign, while silver was at Rs 315 per gram in Tamil Nadu.
On March 4, gold fell sharply by Rs 265 per gram to Rs 15,200, and by Rs 2,120 per sovereign to Rs 1,21,600. Silver also dropped by Rs 20 per gram to Rs 295, with the kilogram rate down by Rs 20,000 to Rs 2.95 lakh.
On March 5, silver prices remained unchanged at Rs 295 per gram and Rs 2.95 lakh per kg, according to the latest market rates.
