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Commodities

Gold Prices in Chennai Rebound After Steep Sell-Off

Guavy AI Editorial Team
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Gold
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Gold prices in Chennai saw a modest recovery on July 27, after a steep sell-off on July 24. The 24K rate rose ₹77 to ₹14,586 per gram, while the 22K rate climbed ₹70 to ₹13,370 per gram.

The rebound comes after gold suffered a sharp correction of ₹295 in a single session on July 24. However, prices are still below their levels before the sell-off and have not regained all ground lost during that session.

According to HDFC Sky, global bullion prices and movements in the rupee against the US dollar can influence local gold rates. Interest-rate expectations, inflation, geopolitical developments, and central bank demand also play a role in shaping bullion prices.

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