Chennai saw another sharp drop in gold rates on Thursday (March 6), with 22-carat jewellery gold falling by Rs 1,280 per sovereign to Rs 1,19,680. The per-gram price declined by Rs 160 to Rs 14,960.
The report noted that gold and silver had surged last week amid the conflict involving the US and Israel against Iran, and Iran’s retaliation. After the initial spike when the war began, prices have been easing over the past few days.
In Tamil Nadu, jewellery gold was quoted at Rs 15,465 per gram and Rs 1,23,720 per sovereign on March 3, while silver was Rs 315 per gram. On March 4, gold fell to Rs 15,200 per gram and Rs 1,21,600 per sovereign; silver slipped to Rs 295 per gram.
On March 5, gold eased further to Rs 15,120 per gram and Rs 1,20,960 per sovereign, while silver remained unchanged at Rs 295 per gram. With Thursday’s decline, gold is reported to be down Rs 6,520 over five days.
Silver also moved lower on March 6, falling by Rs 5 per gram to Rs 290. The kilogram rate dropped by Rs 5,000 to Rs 2.90 lakh.
