CHENNAI: After being on a steady rise for three consecutive days, the price of gold in Chennai decreased by Rs 120 per sovereign on Saturday (January 18) and the yellow metal is being sold at Rs 59,480 per sovereign.

Accordingly, gold price per gram has decreased by Rs 15 with a gram now costing Rs 7,435.

The price of gold last week was on a steady upward trend, finishing at Rs 58,520 per sovereign on January 11. This week, it rose to Rs 58,720 on January 13 only for it to slightly dip to Rs 58,640 the next day, January 14. However, it picked up again on January 15, reaching Rs 59,120 per sovereign. On January 16 & 17, the price surged by a total of Rs 880 per sovereign.

Meanwhile, the price of silver has remained stable and is being sold at Rs 104 per gram.

Gold price over the last five days:

17.01.2024: 1 sovereign (22 carat) - Rs 59,600

16.01.2024: 1 sovereign (22 carat) - Rs 59,120

15.01.2024: 1 sovereign (22 carat) - Rs 58,720

14.01.2024: 1 sovereign (22 carat) - Rs 58,640

13.01.2025: 1 sovereign (22 carat) - Rs 58,720

Silver price over the last five days:

17.01.2024: 1 gram - Rs 104

16.01.2024: 1 gram - Rs 103

15.01.2024: 1 gram - Rs 101

14.01.2024: 1 gram - Rs 101

13.01.2025: 1 gram - Rs 102