Chennai: The price of 22-carat jewellery gold in Chennai rose on March 20, gaining Rs 400 per sovereign to trade at Rs 1,11,600. The per-gram rate increased by Rs 50 to Rs 13,950.
The uptick comes after a steep decline a day earlier. On March 19 morning, gold fell Rs 270 per gram to Rs 14,300 and dropped Rs 2,160 per sovereign to Rs 1,14,400, while silver slipped Rs 10 per gram to Rs 265.
By March 19 evening, gold weakened further, down Rs 400 per gram to Rs 13,900 and Rs 3,200 per sovereign to Rs 1,11,200. Silver remained unchanged in the evening; overall, gold fell Rs 5,360 per sovereign in a single day and silver dropped Rs 10,000 per kg.
The report also noted that international investors have reduced investments in gold, contributing to the recent decline in domestic prices. After a week of falling rates, gold has now posted a small rebound.
Silver continued to soften on March 20, falling Rs 5 per gram to Rs 260 and down Rs 5,000 per kg to Rs 2,60,000.
