CHENNAI: Gold prices in the city fell sharply on Monday evening (March 23), dropping by Rs 2,240 per sovereign (8 grams) five days after the US Federal Reserve kept interest rates unchanged at 3.5–3.75% amid inflation concerns linked to the ongoing West Asia conflict.
During the morning session, gold was priced at Rs 1,03,600 per sovereign and Rs 12,950 per gram. With the evening price drop, the yellow metal has now declined by Rs 7,600 in a single day.
22-carat gold is now priced at Rs 1,01,360 per sovereign and Rs 12,670 per gram, after a decrease of Rs 280.
Meanwhile, silver prices remained stable in the evening session, continuing to trade for Rs 235 (Rs 2,35,000 per kg) on March 23.
Gold remains significantly higher compared to last year. Prices have surged from Rs 65,840 per sovereign (Rs 8,230 per gram) on March 23, 2025, to Rs 1,01,360 per sovereign (Rs 12,670 per gram) on March 23, 2026, evening, marking an increase of Rs 35,520 or about 53.9%.
March 18, 2026: 1 Sovereign - Rs 1,16,560 | 1 gram - Rs 14,570 per gram
March 17, 2026: 1 Sovereign - Rs 1,17,200 | 1 gram - Rs 14,650 per gram
March 16, 2026: 1 Sovereign - Rs 1,17,680 | 1 gram - Rs 14,710 per gram
March 14, 2026: 1 Sovereign - Rs 1,18,080 | 1 gram - Rs 14,760 per gram
March 13, 2026: 1 Sovereign - Rs 1,19,200 | 1 gram - Rs 14,900 per gram
March 18, 2026: 1 gram - Rs 275
March 17, 2026: 1 gram - Rs 280
March 16, 2026: 1 gram - Rs 276
March 14, 2026: 1 gram - Rs 280
March 13, 2026: 1 gram - Rs 290