Chennai gold drops by Rs 2,120 and silver gets cheaper by Rs 20 on March 4, 2026

CHENNAI: Gold plunged in the city by Rs 2,120 per sovereign (8 grams), the fifth day of the US-Israel war on Iran.

The yellow metal is priced at Rs 1,21,600 per sovereign and Rs 15,200 per gram, down by Rs 265.

On March 3, a day earlier, gold cost Rs 1,23,720 per sovereign and 15,465 per gram during the evening session.

Silver prices drop

Silver decreased by Rs 20 to be priced at Rs 295 per gram (Rs 2,95,000 per kg) on March 4. On March 3, it was priced at Rs 315 per gram.

Gold rate today vs gold rate on this day, last year

Gold remains significantly higher compared to last year. Prices have surged from Rs 64,080 per sovereign (Rs 8,010 per gram) on March 4, 2025, to Rs 1,21,600 per sovereign (Rs 15,200 per gram) on March 4, 2026, marking an increase of Rs 57,520, or about 89.7%.

Gold price (22-carat) over the last five days:

March 3, 2026: 1 Sovereign - Rs 1,23,720| 1 gram - Rs 15,465

March 2, 2026: 1 Sovereign - Rs 1,25,280 | 1 gram - Rs 15,660

March 1, 2026: 1 Sovereign - Rs 1,26,200 | 1 gram - Rs 15,775

February 28, 2026: 1 Sovereign- Rs 1,24,600| 1 gram- Rs 15,550

February 27, 2026: 1 Sovereign- Rs 1,19,200| 1 gram- Rs 14,900

Silver price over the last five days:

March 3, 2026: 1 gram - Rs 315

March 2, 2026: 1 gram - Rs 315

March 1, 2026: 1 gram - Rs 325

February 28, 2026: 1 gram- Rs 320

February 27, 2026: 1 gram- Rs 295