NEW YORK, December 30, 2025, 20:52 ET
- Chennai’s 22-carat jewellery gold fell Rs 3,360 per sovereign (8 grams) to Rs 100,800 on Dec. 30, Dinamalar reported.
- The move followed a smaller decline a day earlier, with the rate at Rs 104,160 per sovereign on Dec. 29, Daily Thanthi said.
- Global bullion prices whipsawed this week after profit-taking from record highs, Reuters reported.
Gold prices in Chennai logged a sharp one-day fall on Tuesday, with 22-carat jewellery gold dropping 3,360 rupees per sovereign to 100,800 rupees, Dinamalar reported.
The slide matters because Chennai is a key jewellery market in India, where families routinely track daily rates for purchases and savings. The local reports also said retail prices had been scaling new highs through 2025, raising the stakes for sudden pullbacks.
The Chennai move comes as precious metals have swung sharply into year-end, with traders digesting record highs, profit-taking and fresh geopolitical headlines.
Dinamalar said the fall took the 22-carat rate down by 420 rupees per gram to 12,600 rupees. It said silver fell 23 rupees per gram to 258 rupees, or 258,000 rupees per kg.
Prices had already eased a day earlier. Daily Thanthi reported on Dec. 29 that Chennai’s jewellery gold slipped 640 rupees per sovereign to 104,160 rupees, ending nine straight sessions without a decline.
Daily Thanthi put the 22-carat price at 13,020 rupees per gram on Dec. 29, down 80 rupees, and said silver also softened that day.
In international markets, gold and silver rebounded on Tuesday after a sharp fall the previous session, according to Reuters. Spot gold rose 0.8% to $4,364.70 an ounce, while silver gained 7.3% to $77.48.
“We saw very extreme volatility yesterday … but things have stabilised somewhat today,” Peter Grant, vice president and senior metals strategist at Zaner Metals, told Reuters.
A “sovereign” — also called a pavan — is a common retail measure in India equal to 8 grams of gold. The Chennai quotes refer to 22-carat gold, a jewellery grade that is 91.6% pure.
Local retail prices can diverge from global benchmarks because of currency moves, import taxes and “making charges” — the labour and design costs added by jewellers. Even so, domestic rates often react quickly when overseas prices swing.
Silver’s sharp moves have also drawn attention because the metal carries both investment demand and industrial use. Reuters said silver was up 168% in 2025 even after the pullback, while gold was up 66% for the year.
For buyers in Chennai, the sudden drop offers a break after a rapid run-up late in the month. The local reports did not cite a single driver behind the day’s move.
