CHENNAI: The price of 22-carat gold on Monday has dropped by Rs 240 per sovereign with the yellow metal being sold at Rs. 53,920/sovereign.

Gold price in Tamil Nadu has been fluctuating for the past few days and the price has decreased today.

The gold price has witnessed a high surge in recent months and has crossed Rs 50,000 mark.

Accordingly, the price of gold is decreased down by Rs 30 and is being sold at Rs 6,740/gram.

Silver price remains stable and is being sold at Rs 87.50/gram.