Gold prices in Chennai witnessed a sharp decline on Saturday, falling by Rs.2,480 per sovereign in a single day. After declining last week, gold prices had recovered slightly over the past few days. Prices rose by Rs.120 per sovereign on Monday, Rs.400 on Tuesday and Rs.480 on Wednesday, while remaining unchanged on Thursday. On Friday, the price dropped by Rs.1,240 per sovereign. On Saturday, the price of jewellery gold fell by Rs.2,480 per sovereign to Rs.1,01,840. The price per gram declined by Rs.310 to Rs.12,730. Silver prices also decreased. The price of silver fell by Rs.10 per gram to Rs.200, while one kilogram of bulk silver was priced at Rs.2 lakh.
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