Gold prices declined again in Chennai on Tuesday, with 22-carat jewellery rates falling by Rs. 2,720 per sovereign.
A sovereign of gold is now being sold at Rs. 1,04,000, while the price per gram has decreased by Rs. 340 to Rs. 13,000.
The fall comes amid sharp fluctuations witnessed over the past two days. On Monday morning, gold prices had dropped significantly before partially recovering in the evening session. However, the downward trend resumed today.
Silver prices also registered a decline. The price of silver fell by Rs. 10 per gram to Rs. 240, while the price per kilogram dropped by Rs. 10,000 to Rs. 2,40,000.
Market analysts attribute the volatility to global economic trends, currency fluctuations and shifting investment patterns in international markets.
Despite intermittent rises, precious metal prices continue to witness sharp swings in recent sessions, reflecting uncertainty in global and domestic markets.
