Gold price falls by Rs 1,560 per sovereign

Gold prices in Chennai declined for the second consecutive day on Wednesday, with the price of one sovereign (eight grams) falling by Rs 1,560 to Rs 1,04,120. The price of jewellery gold had increased on Monday by Rs 95 per gram to Rs 13,255 and by Rs 760 per sovereign to Rs 1,06,040. On Tuesday, the price declined by Rs 45 per gram to Rs 13,210 and by Rs 360 per sovereign to Rs 1,05,680.
On Wednesday, gold prices dropped sharply by Rs 195 per gram to Rs 13,015 and by Rs 1,560 per sovereign to Rs 1,04,120. Silver prices, which had remained unchanged at Rs 205 per gram for four consecutive days, declined by Rs 5 to Rs 200 per gram on Wednesday. A kilogram of silver (bar) was priced at Rs 2 lakh.