Gold and Silver Prices Continue to Decline in Chennai on November 5

After touching record highs in October, gold prices have continued their downward trend following the Diwali festival. The sharp increase seen last month has now eased, offering some relief to consumers.

On Monday (November 4), the price of 22-carat gold fell by Rs. 100 per gram, bringing the rate to Rs. 11,250 per gram. The price of a sovereign dropped by Rs. 800, selling at Rs. 90,000.

Continuing this trend, gold prices declined further today.

Gold Price Today (November 5)

22-Carat Gold

Price decrease: Rs. 70 per gram
New rate: Rs. 11,180 per gram
Sovereign price decrease: Rs. 560
New sovereign rate: Rs. 89,440

18-Carat Gold

Price decrease: Rs. 65 per gram
New rate: Rs. 9,325 per gram
Sovereign price decrease: Rs. 520
New sovereign rate: Rs. 74,600

Silver Price Today (November 5)

Silver prices have also fallen:

Price decrease: Rs. 2 per gram
New rate: Rs. 163 per gram
Price per kilogram: Rs. 1,63,000

The continuous decline in gold and silver prices is viewed as a correction after last month’s historic surge, and is expected to influence buying patterns in the coming days.