Gold prices witnessed a sharp decline at the start of the week. In Chennai, the price of gold dropped by ₹100 per gram, bringing the rate to ₹14,950 per gram. The price of one sovereign (8 grams) of 22-carat gold decreased by ₹800, and is now being sold at ₹1,19,600.

Gold prices had fluctuated in recent days due to global tensions and market movements. After falling significantly during the previous week, prices briefly increased on Saturday before declining again today.

Meanwhile, silver prices remained unchanged. Silver is currently priced at ₹290 per gram, while bar silver is being sold at ₹2,90,000.

Market analysts say global economic developments and international geopolitical factors continue to influence gold price movements in India.