Tamil Nadu Gold Prices Plummet ₹295 Per Gram This Week

Gold prices in Tamil Nadu continued their downward trend on Saturday, September 26. The rate of 22-carat ornamental gold fell by ₹10 per gram to ₹14,000 per gram. A sovereign (8 grams) is now priced at ₹1,12,000 in Chennai, Coimbatore, Madurai, Trichy and other cities across the state.

According to LiveChennai, gold prices have declined significantly this week. On Monday, the price fell by ₹15 per gram, followed by a drop of ₹85 on Tuesday, ₹50 on Wednesday, and ₹135 on Thursday. Although there was a slight increase of ₹10 per gram on Friday, the price dropped again by ₹10 today.

As a result, the overall price of 22-carat gold has declined by ₹295 per gram this week, which translates to a drop of ₹2,360 per sovereign. The prices have been fluctuating since the beginning of September, but this week saw a more consistent downward trend, with prices falling on five out of six trading days.

Silver prices remained unchanged today, priced at ₹250 per gram or ₹2.50 lakh per kilogram across Tamil Nadu. Global developments such as the Iran-US conflict, crude oil prices, and movements in the US dollar continue to influence precious metal prices.