Chennai saw another drop in gold prices on Tuesday (March 18), with 22-carat jewellery gold falling by Rs 640 per sovereign to Rs 1,16,560. The per-gram rate declined by Rs 80 to Rs 14,570.
The report attributed the ongoing slide to reduced investment interest from international investors, which has weighed on domestic prices.
Over the past few days, prices have steadily eased. On March 16, gold fell by Rs 50 per gram to Rs 14,710 and by Rs 400 per sovereign to Rs 1,17,680. On March 17, it slipped further to Rs 14,650 per gram and Rs 1,17,200 per sovereign.
Overall, gold has dropped by Rs 1,520 per sovereign in three days, according to the latest rates.
Silver also moved lower on March 18, falling by Rs 5 per gram to Rs 275. The kilogram rate declined by Rs 5,000 to Rs 2.75 lakh.
