One person who was severely injured is still on admission at the hospital, while two others were treated and discharged.
The Police have arrested 11 suspects in connection with the case.
DCOP George Tuffour, who spoke to the GNA, said a chief had been enskined and outdoored and was, therefore, in a procession to enter the palace when the supporters of the opposing claimant prevented them from entering the palace.
He explained that in the process, gunshots and fighting with cutlasses led to the death of the elderly man and the injuring of the three.
The identities of the offenders involved would be established soon, he said.
DCOP Tuffour cautioned that anybody involved in the crime would not be spared.
In a related development, supporters of the new chief, on Sunday morning, beat up one person from the opposing gate and the Police have arrested three persons in that incident.
The body of the deceased has meanwhile been deposited at the Tamale Teaching Hospital morgue for autopsy.