Gold prices in Chennai experienced a sharp decline on Friday, dropping by Rs 4,320 per sovereign, following a brief period of gains earlier in the week. After crossing the Rs 63,000 mark, the yellow metal is now being sold at Rs 59,120 per sovereign.
In terms of gram weight, the price of gold also saw a drop of Rs 540, with each gram now priced at Rs 7,390. This marks a significant shift from recent trends, where gold prices had been steadily climbing.
On January 31, the price of gold surged by Rs 960 in a single day, reaching Rs 61,840 per sovereign. This upward momentum continued through early February, with the price hitting Rs 62,480 on February 4. The next day, February 5, saw a further increase to Rs 63,240, and by February 6, it peaked at Rs 63,440 before the steep drop on February 7.
In contrast to the fluctuations in gold prices, the price of silver has remained relatively stable, holding steady at Rs 107 per gram throughout the past week.
Recent Gold Price Fluctuations:
- 06.02.2025: Rs 63,440 per sovereign
- 05.02.2025: Rs 63,240 per sovereign
- 04.02.2025: Rs 62,480 per sovereign
- 03.02.2025: Rs 61,640 per sovereign
- 01.02.2025: Rs 61,960 per sovereign
Silver Price Trends:
- 06.02.2025: Rs 107 per gram
- 05.02.2025: Rs 107 per gram
- 04.02.2025: Rs 106 per gram
- 03.02.2025: Rs 107 per gram
- 01.02.2025: Rs 107 per gram
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Gold Futures Vs Gold ETFs: What Is The Difference?
