Gold price dips Rs 200 in Chennai: what’s behind the sudden June 9 slide?

Gold prices in Chennai experienced a notable dip of Rs 200 per sovereign on June 9, 2025, with the gram price settling at Rs 8,955.
This decline brought the sovereign price down to Rs 71,640 from Rs 71,860 recorded just two days earlier on June 7.
"The price of gold in the city has decreased by Rs 200 per sovereign on Monday (June 9, 2025), with a gram costing Rs 8,955," reports indicate.
This recent slide follows a period of volatility, including a significant peak on April 22, when gold prices hit an all-time high of Rs 74,320 per sovereign.
"On April 22, the gold price soared to an all-time high of Rs 74,320/sovereign, marking a steep rise of Rs 2,200 per sovereign compared to the previous day's rate," highlighting the sharp fluctuations in the market.
Over the last five days leading up to June 9, prices have shown a downward trend from Rs 73,040 per sovereign on June 6.
The recent price movements reflect ongoing market adjustments possibly influenced by global economic factors and local demand-supply dynamics.
Investors and consumers are advised to monitor these trends closely as gold remains a key asset in the region.
"Gold price over the last five days: 6.06.2025: 1 sovereign (22 carat)- Rs 73,040."

Gold prices in Chennai fell by Rs 200 per sovereign on June 9, 2025, with a gram priced at Rs 8,955 and a sovereign at Rs 71,640, down from Rs 71,860 on June 7. This follows a peak of Rs 74,320 per sovereign in April, reflecting recent market fluctuations.