Gold and silver prices witnessed an upward trend in Chennai on Saturday after a brief decline the previous day.
The price of gold jewellery rose by Rs. 1,200 per sovereign to Rs. 1,14,880 on Saturday. Similarly, the price per gram increased by Rs. 150 to Rs. 14,360.
Gold prices had been on a rising trend since April 14, gaining Rs. 2,400 per sovereign over three days before experiencing a dip on Friday. On that day, prices fell by Rs. 1,200 per sovereign to Rs. 1,13,680 and by Rs. 150 per gram to Rs. 14,210.
However, the rebound on Saturday erased the previous day’s losses, bringing prices back to recent highs.
Meanwhile, silver prices, which remained stable for three consecutive days, also registered an increase. The price of silver rose by Rs. 5 per gram to Rs. 280, while one kilogram of silver was priced at Rs. 2.80 lakh.
Market observers attribute the fluctuations to global trends and demand variations.
