CHENNAI: The day after a Rs 1,600 surge, the rate of gold plummeted by Rs 800 on Thursday (November 20) in the city. A sovereign (8 grams) costs Rs 92,000, while a gram costs Rs 11,500, a fall of Rs 100.

On November 19th, gold was priced at Rs 92,800 per sovereign and Rs 11,600 per gram in the evening session.

On November 13, a sovereign had cost Rs 95,200, the highest rate gold touched this month.

The present seesaw trend follows 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.

Gold has rallied significantly this year as investors turned to the safe-haven asset amid geopolitical and economic uncertainty, driven by the ongoing US s

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