Gold rates in Chennai city crash this week: Can yellow metal rebound ahead of Diwali - Key levels to watch in future?

Gold prices in Chennai city have dropped significantly this week, with MCX futures falling around 3.5% and retail 24K gold prices declining by 3.85% to ₹1,42,480 per 10 grams. This decrease can be attributed to rising oil prices, inflation concerns, and expectations of tighter US monetary policy.