Gold and Silver Prices Drop Sharply in Chennai on Monday
Gold prices in Chennai fell by ₹50 per gram and ₹400 per sovereign, while silver prices dropped by ₹4 per gram, offering relief to buyers.
Arunkumar Gowrishankar 
Gold and silver prices have seen a sharp decline on the first trading day of the week, bringing relief to buyers and jewellery traders in Chennai.
According to the latest market update, the price of one gram of gold has decreased by ₹50 and is currently being sold at ₹14,710. Similarly, the price of one sovereign (8 grams) of gold has dropped by ₹400, bringing the rate down to ₹1,17,680.
Silver prices have also recorded a noticeable fall. The price of silver has decreased by ₹4 per gram and is now being sold at ₹276 per gram. Additionally, the price of one kilogram of silver has dropped by ₹4,000 and is currently priced at ₹2,76,000.
Market experts suggest that the decline in gold prices is mainly due to a reduction in investment by global investors. Despite this, the continuous drop in gold and silver prices has brought a sense of relief and happiness among the public, especially for those planning to purchase jewellery.
