Chennai, July 29:Gold prices in the city declined on Wednesday (July 29), with the rate falling by ₹480 per sovereign. The yellow metal is now priced at ₹1,05,240 per sovereign and ₹13,155 per gram, following a drop of ₹60 per gram. On the previous day (July 28), 22-carat gold stood at ₹1,05,720 per sovereign after a sharper fall of ₹1,240, while the gram rate was ₹13,215, down by ₹155. Despite the recent dip in gold prices, the metal continues to trade significantly higher compared to last year. In terms of recent trends, gold prices have seen fluctuations over the past few days.