Chennai gold price falls by 1,560 rupees per sovereign

Jewellery gold in Chennai was quoted at 104,120 Indian rupees per sovereign on November 11, down 1,560 rupees, according to the reported local price bulletin. The cumulative decline over two days was 1,920 rupees.

The report cites a stronger US dollar, bond yields and softer post-festival demand as influences on the market. Gold prices respond to several international and domestic factors, so the movement cannot be assigned with certainty to a single cause.

Silver was quoted at 200 rupees per gram, down five rupees, or 200,000 rupees per kilogram, down 5,000 rupees. These are dated local quotations, not guaranteed transaction prices or a prediction that the decline will continue.