CHENNAI: Amid a two-week streak of fluctuations, gold prices dropped by Rs 560 on Wednesday (November 5), with a sovereign (8 grams) of 22-carat gold priced at Rs 89,440 and a gram at Rs 11,180.

On Tuesday (November 4), gold fell by Rs 800 to Rs 90,000 per sovereign (Rs 11,250 per gram). On November 1, the rates stood at Rs 90,480 per sovereign and Rs 11,310 per gram.

The recent price fluctuations follow a meteoric rise last month, when gold had surged to Rs 97,600 per sovereign (Rs 12,200 per gram) on October 17—the highest this year—before plunging to Rs 88,600/sovereign (Rs 11,075/gram) on October 28.

Speaking to Thanthi TV, Jayantilal Challani, Founder and Chairman of the Challani Group, attributed the frequent fluctuations to global factors. “Central banks across the world continu

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