First Published Aug 27, 2022, 10:13 AM IST
The price of gold is moving with great volatility on a daily basis. Prices have fallen for the 2nd day in a row after a few days of highs this week.
Gold prices fell by Rs 15 per gram and Rs 120 per gram today.
In Chennai, the price of 22 carat jewelery gold was sold at Rs 4,820 per gram and sawan at Rs 38,560 as on yesterday evening.
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Gold prices fell again on Saturday (today) morning. It fell by Rs 15 to Rs 4,805 per gram and Sawaran fell by Rs 120 to Rs 38,440.
Gold is selling at Rs.4805 per gram in Coimbatore, Trichy and Vellore.
Gold prices were down throughout last week. But, since the beginning of this week, the price of gold has been fluctuating. Gold started the week at Rs 4,815 per gram, but today, the last day of the week, is at Rs 4,805.
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Even though the difference between the two prices was just Rs 10, in the intervening 4 days, gold rose as high as Rs 35 or Rs 4,850 per gram, before falling to a low of Rs 4,800.
Similarly, Sawaran was priced at Rs 38,520 at the start of the week. In the intervening 4 days, Sawaran has dropped by Rs.80 and today Sawaran is Rs.38,440. Savaran rose to a high of Rs.38,800 and fell to a low of Rs.38,400 in the inter-day.
As the price of gold fluctuates, jewelers and the middle class are a bit hesitant to buy jewellery. The Federal Reserve has announced that it will raise interest rates significantly in the coming months. It will be revealed in September. Then expect a change in the price of gold.
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Silver prices also fell today. Silver fell by 60 paise to Rs 60.70 per gram and rose by Rs 600 to Rs 60,700 per kg.
Last Updated Aug 27, 2022, 10:27 AM IST