Chennai: The price of gold in Chennai saw a significant drop on Monday, decreasing by Rs 400 per sovereign.

The yellow metal is now being sold at Rs 51,080 per sovereign in the city. This fluctuation comes after several days of varying prices in Tamil Nadu’s gold market.

According to the latest rates, the price of gold has decreased by Rs 30 per gram, now standing at Rs 6,385 per gram. In addition to gold, the price of silver has also seen a reduction. Silver prices have dropped by Rs 0.50 paise, with the metal now being sold at Rs 89 per gram.

These changes reflect the ongoing volatility in the precious metals market, which can be influenced by a variety of economic factors. Consumers and investors in Tamil Nadu are closely monitoring these price movements as they plan their purchases and investments.