The price of gold, which fell below ₹1 lakh per sovereign yesterday, declined further today. The price of one sovereign (8 grams) dropped by ₹240, taking the current rate to ₹99,640. Accordingly, the price of gold per gram fell by ₹30 to ₹12,455.
It was yesterday that gold prices slipped below the ₹1 lakh mark after a sharp single-day fall of ₹2,240 per sovereign, coming down from ₹1,02,120. Gold had crossed the ₹1 lakh level for the first time on December 23, and prices continued to rise in the following days.
After reaching an all-time high of ₹1,04,440 per sovereign on Saturday, gold prices began to decline. Over the past four days, the total drop has amounted to ₹4,800.
At the beginning of this month, the price of one sovereign stood at ₹95,680. On the 9th, it fell to ₹94,920, marking the lowest level for the month. In the days that followed, gold prices showed an upward trend before the recent decline.
