Gold Rate In Chennai Today

Todays gold rate in Chennai:

  • 10g of 24K gold is 46,880 Indian Rupee
  • 10g of 22K gold is 44,650 Indian Rupee
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  • Today's Gold Rate in Chennai ( 23 Oct 2021 )

    ₹ 4,515
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Chennai (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,515 ₹ 4,484 ₹ 31 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 36,120 ₹ 35,872 ₹ 248 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,741 ₹ 4,708 ₹ 33 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 37,928 ₹ 37,664 ₹ 264 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    23 Oct 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    22 Oct 2021 ₹ 4,484 ₹ 35,872 ₹ 4,708 ₹ 37,664
    21 Oct 2021 ₹ 4,484 ₹ 35,872 ₹ 4,708 ₹ 37,664
    20 Oct 2021 ₹ 4,474 ₹ 35,792 ₹ 4,698 ₹ 37,584
    19 Oct 2021 ₹ 4,465 ₹ 35,720 ₹ 4,688 ₹ 37,504
    18 Oct 2021 ₹ 4,462 ₹ 35,696 ₹ 4,685 ₹ 37,480
    17 Oct 2021 ₹ 4,465 ₹ 35,720 ₹ 4,688 ₹ 37,504
    16 Oct 2021 ₹ 4,465 ₹ 35,720 ₹ 4,688 ₹ 37,504
    15 Oct 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    14 Oct 2021 ₹ 4,505 ₹ 36,040 ₹ 4,730 ₹ 37,840

    Weekly & Monthly Graph of Gold Rate in Chennai (1 gram)

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Chennai

    Gold is a hugely important commodity in Chennai, the capital of South-Indian state Tamil Nadu. Gold rate in Chennai ranks above all other cities and towns in India when it comes to gold trade. This cosmopolitan city boasts the maximum number of sales and purchases of gold in India.

    In keeping with the rest of the country, the people of Chennai purchase gold mainly in the form of jewelry. Needless to say, there are a number of jewelry establishments spread in and around the city to meet this demand. Gold rates or prices are updated on a daily basis and can be obtained from those dealing in gold or online via many financial sites.

    India imports most of its gold requirements from abroad. Chennai which doesn’t have any significant gold production also contributes to the country’s need to substantiate gold demand through imports. Even though gold is bought as jewelry, it is done for reasons beyond ornamentation. Such purchases form a part of many buyers’ investment portfolio.

    Gold Rate in Chennai for Last 5 Days (1gm)

    Date 1 gram Standard Gold (22 K) 1 gram Pure Gold (24 K)
    18 October 2021 ₹ 4,465 ₹ 4,688
    17 October 2021 ₹ 4,465 ₹ 4,688
    16 October 2021 ₹ 4,465 ₹ 4,688
    15 October 2021 ₹ 4,515 ₹ 4,741
    14 October 2021 ₹ 4,505 ₹ 4,730

    Also check : Silver Rate in Chennai

    Historical Gold Price in Chennai

    Months Lowest Price 24 Karat Gold – ₹ Per 10 Grams Highest Price 24 Karat Gold – ₹ Per 10 Grams
    September 202145,57047,210
    August 202145,92049,610
    July 202146,65049,550
    June 202146,10050,790
    May 2021 45,000 50,710
    April 2021 45,990 49,170
    March 2021 45,590 47,370
    February 2021 47,350 50,840
    January 2021 48,380 53,290
    December 2020 49,310 52,120
    November 2020 49,350 53,390
    October 2020 50,960 53,320
    September 2020 50,190 54,080
    August 2020 53,670 59,140
    July 2020 50,490 55,610
    June 2020 44,830 50,670
    May 2020 46,210 49,160
    April 2020 41,500 47,200
    March 2020 40,260 44,430

    Trend of Gold Rate in Chennai for October 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    October 1 Rate Rs.4,612 per gram
    October 10 Rate Rs.4,660 per gram
    Highest Rate in October Rs.4,660 per gram on 9 and 10 October
    Lowest Rate in October Rs.4,601 per gram on 4 October
    Overall Performance Incline

    October 2021 - Week 1 (1 - 10):

    • In Chennai, the price of gold opened at the rate of Rs.4,679 per gram in the month of October. The overall performance of the precious metal witnessed an incline.
    • During the month, it recorded the highest rate on 4 and 5 October wherein a gram of 24 karat gold was being sold for Rs.4,721 per gram. The lowest price of the precious yellow metal was recorded on the 2nd and 3rd of October when the price stood at Rs.4,674 per gram.
    • The precious metal closed the second week of October being traded at the rate of Rs.4,721 per gram.

    Trend of Gold Rate in Chennai for September 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.4,679 per gram
    September 30 Rate Rs.4,557 per gram
    Highest Rate in September Rs.4,721 per gram on 4, 5, and 6 September
    Lowest Rate in September Rs.4,557 per gram on 30 September
    Overall Performance Decline

    September 2021 - Week 1 (1 - 5):

    • In Chennai, the price of gold opened at the rate of Rs.4,679 per gram in the month of September. The overall performance of the precious metal witnessed an incline.
    • During the month, it recorded the highest rate on 4 and 5 September wherein a gram of 24 karat gold was being sold for Rs.4,721 per gram. The lowest price of the precious yellow metal was recorded on the 2nd and 3rd of September when the price stood at Rs.4,674 per gram.
    • The precious metal closed the first week of September being traded at the rate of Rs.4,721 per gram.

    September 2021 - Week 2 (6 - 12):

    • In Chennai, the price of gold opened at the rate of Rs.4,679 per gram in the month of September. The overall performance of the precious metal witnessed an incline.
    • During the month, it recorded the highest rate on 4 and 5 September wherein a gram of 24 karat gold was being sold for Rs.4,721 per gram. The lowest price of the precious yellow metal was recorded on the 2nd and 3rd of September when the price stood at Rs.4,674 per gram.
    • The precious metal closed the first week of September being traded at the rate of Rs.4,721 per gram.

    September 2021 - Week 3 (13 - 19):

    • In Chennai, the price of gold opened at the rate of Rs.4,679 per gram in the month of September. The overall performance of the precious metal witnessed a decline during the month.
    • During the month, gold recorded the highest rate from 4 to 6 September wherein a gram of 24 karat gold was being sold for Rs.4,721 per gram. The lowest price of the precious yellow metal was recorded on 17 September when the price stood at Rs.4,583 per gram.
    • The precious metal closed the third week of September being traded at the rate of Rs.4,587 per gram in Chennai.

    September 2021 - Week 4 (20 - 26):

    • In Chennai, the price of gold at the start of the fourth week of September was Rs.4,573 per gram. There was a decline of Rs.14 in the rate when compared to previous week’s closing price. This was the lowest recorded price of the yellow metal in the city for the month till now.
    • Gold price in Chennai climbed over the next two days before declining on 23rd and 24th September. A gram of 24-karat gold cost Rs.4,573 in the city on 24th September.
    • While the price increased on 25th September, it remained unchanged on the final day of the week and closed at Rs.4,582 per gram. The overall performance of gold in the metropolitan city was one of decline.

    September 2021 - Week 5 (27 - 30):

    • In Chennai, the price of gold opened at the rate of Rs.4,679 per gram in the month of September. The overall performance of the precious metal witnessed a decline during the month.
    • During the month, gold recorded the highest rate from 4 to 6 September wherein a gram of 24 karat gold was being sold for Rs.4,721 per gram. The lowest price of the precious yellow metal was recorded on 30 September when the price stood at Rs.4,557 per gram.
    • The precious metal closed the month of September being traded at the rate of Rs.4,557 per gram in Chennai.

    Trend of Gold Rate in Chennai for August 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.4,775 per gram
    August 31 Rate Rs.4,689 per gram
    Highest Rate in August Rs.4,961 per gram on 2 August
    Lowest Rate in August Rs.4,592 per gram on 10 and 11 August
    Overall Performance Decline

    August 2021 - Week 1 (1 - 8):

    • Gold price in Chennai at the start of the fourth week of August was Rs.4,773 per gram. The price of the bullion was down by Rs.181 for every gram when the rate was compared to what was charged on 18th August.
    • In Chennai, the price of the bullion witnessed slight changes until 24th August. While the rate of the precious metal shot up on 20th August, it declined on 21st and 22nd August before recovering and recording an uptick.
    • Gold closed the penultimate week of the month at Rs.4,736 per gram. The overall performance of the yellow metal in the metropolitan city witnessed an inclining trend.

    August 2021 - Week 2 (9 - 15):

    • A gram of 24-karat gold was priced Rs.4,599 in Chennai at the start of the second week of August. When compared to previous week’s closing price, the rate was down by Rs.244.
    • Gold recorded its lowest price for the month till date on 10th August when a gram cost Rs.4,592. The price of the yellow metal increased gradually in the city over the week.
    • Gold price in Chennai closed the week at Rs.4,657 per gram with the overall performance witnessing a declining trend.

    August 2021 - Week 3 (16 - 22):

    • In Chennai, the price of gold opened at the rate of Rs.4,775 per gram in the month of August. The overall performance of the precious metal witnessed a decline.
    • During the month, it recorded the highest rate on 2nd of August wherein a gram of 24 karat gold was being sold for Rs.4,961 per gram. The lowest price of the precious yellow metal was recorded on the 10th and 11th of August when the price stood at Rs.4,592 per gram.
    • The precious metal closed the third week of August being traded at the rate of Rs.4,688 per gram.

    August 2021 - Week 4 (23 - 31):

    • The price of gold in Chennai at the start of the final week of August was Rs.4,684 per gram. Compared to the previous week’s closing price, the rate of the yellow metal had dropped slightly.
    • Gold price in Chennai witnessed constant fluctuations over the week. A gram of 24-karat gold was priced Rs.4,732 in the metropolitan city on 30th August.
    • The yellow metal closed the week at Rs.4,689 per gram after the rate recorded a decline of Rs.33 for every gram. Gold’s overall performance in Chennai was one of decline.

    Trend of Gold Rate in Chennai for July 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    July 1 Rate Rs.4,665 per gram
    July 31 Rate Rs.4,775 per gram
    Highest Rate in July Rs.4,955 per gram on 17 July
    Lowest Rate in July Rs.4,665 per gram on 1 July
    Overall Performance Incline

    July 2021 - Week 1 (1 - 4):

    • In Chennai, gold was priced at Rs.4,665 per gram at the start of the first week of July. There was an increase of Rs.34 in the price when compared to the closing price of the previous week.
    • Gold price in Chennai climbed over the next three days and recorded its highest price for the month till date on 4th July. A gram costed Rs.4,894 on the mentioned date.
    • The overall performance of the yellow metal in the metropolitan city was one of incline.

    July 2021 - Week 2 (5 - 11):

    • In Chennai, the price of gold at the start of the second week of July was Rs.4,859 per gram. There was a minimal drop in the price when compared to the previous week’s closing price.
    • Gold price in Chennai slipped over the next two days and recorded its lowest price for the month till date. On 11th July, a gram of 24-karat gold cost Rs.4,610.
    • Over the remainder of the week, the price of the yellow metal continued to see slight fluctuations before closing at Rs.4,620 per gram. The overall performance of gold in the city was one of decline.

    July 2021 - Week 3 (12 - 18):

    • In Chennai, the price of gold opened at the rate of Rs.4,665 per gram in the month of July. The overall performance of the precious metal witnessed an incline.
    • Till the end of the third week of the month, it recorded the highest rate on 17th July wherein a gram of 24 karat gold was being sold for Rs.4,955 per gram.
    • The lowest price of the precious yellow metal was recorded on the 1st of July when the price stood at Rs.4,665 per gram.

    July 2021 - Week 4 (19 - 25):

    • Gold price in Chennai at the start of the fourth week of July was Rs.4,773 per gram. The price of the bullion was down by Rs.181 for every gram when the rate was compared to what was charged on 18th July.
    • In Chennai, the price of the bullion witnessed slight changes until 24th July. While the rate of the precious metal shot up on 20th July, it declined on 21st and 22nd July before recovering and recording an uptick.
    • Gold closed the penultimate week of the month at Rs.4,736 per gram. The overall performance of the yellow metal in the metropolitan city witnessed an inclining trend.

    July 2021 - Week 5 (26 - 31):

    • In Chennai, the price of gold opened at the rate of Rs.4,665 per gram in the month of July. The overall performance of the precious metal witnessed an incline.
    • During the month, it recorded the highest rate on 17th July wherein a gram of 24 karat gold was being sold for Rs.4,955 per gram. The lowest price of the precious yellow metal was recorded on the 1st of July when the price stood at Rs.4,665 per gram.
    • The precious metal closed the month of July being traded at the rate of Rs.4,775 per gram.

    Gold Rate Trend in Chennai for June 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    June 1 Rate Rs.5,060 per gram
    June 30 Rate Rs.4,631 per gram
    Highest Rate in June Rs.5,079 per gram on 3 June
    Lowest Rate in June Rs.4,610 per gram on 21 June
    Overall Performance Decline

    June 2021 - Week 1 (1 - 4):

    • The price of the precious metal in Chennai, opened at Rs.5,060 per gram on 1 June and was steady at the same rate on 2 June.
    • Gold rate in Chennai increased to hit its highest of the week on 3 June due to a positive trend seen in the international market. The price of the meta was Rs.5,079 per gram.
    • However, as the dollar value recovered in the market, gold prices declined and closed the week at Rs.5,000 per gram on 4 June, recording an overall decline.

    June 2021 - Week 2 (5 - 11):

    • The price of the gold in Chennai on 5th June was Rs.5,035 per gram. When compared to the closing price of the previous week, gold rate was up by Rs.35 in the city.
    • Gold rate in Chennai witnessed slight fluctuations over the week. The overall performance of the yellow metal in the metropolitan city was one of incline.
    • The precious metal closed the second week of June at Rs.5,062 per gram as the rate shot up on the final day of the week.

    June 2021 - Week 3 (12 - 18):

    • The price of gold opened the 3rd week of June in Chennai at the rate of Rs.5,060 per gram.
    • The highest rate for the month was recorded on the 3rd of June wherein a gram of gold was being traded at the rate of Rs.5,079. The lowest rate was recorded on the closing day of the third week wherein it stood at the rate of Rs.4,860 per gram.
    • There was an overall decline in the performance of the gold rate in Chennai.

    June 2021 - Week 4 (19 - 25):

    • In Chennai, the price of gold at the start of the fourth week of June was Rs.4,859 per gram. There was a minimal drop in the price when compared to the previous week’s closing price.
    • Gold price in Chennai slipped over the next two days and recorded its lowest price for the month till date. On 21st June, a gram of 24-karat gold cost Rs.4,610.
    • Over the remainder of the week, the price of the yellow metal continued to see slight fluctuations before closing at Rs.4,620 per gram. The overall performance of gold in the city was one of decline.

    June 2021 - Week 5 (26 - 30):

    • A gram of 24-karat gold cost Rs.4,631 in Chennai on 26th June. The price of the yellow metal was up by Rs.11 per gram in the metropolitan city when the rate was compared to what was charged at the end of the previous week.
    • The price of gold remained unchanged the following day June before increasing considerably and costing Rs.4,850 per gram on 28th June.
    • Gold price in Chennai slipped following that and closed the month at Rs.4,631 per gram. The overall performance of the yellow metal in the city witnessed a declining trend.

    Gold Rate in Trend Chennai for May 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.4,810 per gram
    May 31 Rate Rs.5,048 per gram
    Highest Rate in May Rs.5,071 per gram on 27 May
    Lowest Rate in May Rs.4,500 per gram on 12 May
    Overall Performance Incline

    May 2021 - Week 1 (1 - 7):

    • In Chennai, gold prices opened the first week of May at Rs.4,810 per gram on 1 May and was were Rs.4,811 per gram on 2 May. On 3 May, the metal’s price declined marginally and was Rs.4,810 per gram.
    • On 4 May as the U.S. dollar value dipped in the market, gold prices increased to Rs.4,857 per gram and dipped to Rs.4,835 per gram on 5 May.
    • The value of the yellow metal increased on 6 May at Rs.4,849 per gram and on the last day of the week, it inclined to hit its highest at Rs.4,906 per gram on 7 May, and closed at the same rate.

    May 2021 - Week 2 (8 - 14):

    • A gram of 24-karat gold was priced at Rs.4,920 at the start of the second week of May. The price was up by Rs.14 for every gram when the rate was compared to the closing price of the previous week.
    • The price of gold increased gradually in the metropolitan city and recorded its highest price for the month till date on 11th May when a gram was retailed for Rs.4,931.
    • Gold price in Chennai slipped the following day and recorded the lowest price for the month till date. On the mentioned date, the yellow metal was priced at Rs.4,500 per gram. Gold closed the week at Rs.4,900 per gram with the overall performance being one of incline.

    May 2021 - Week 3 (15 - 21):

    • At the start of the third week of May, gold price in Chennai was Rs.4,931 per gram. Compared to the price charged on the final day of the previous week, the rate was up by Rs.31 for every gram.
    • The price of gold increased gradually in the city till 18th May before declining slightly on 19th May. Gold recorded its highest price for the month till date on 20th May when a gram costed Rs.5,016
    • Gold price in Chennai closed at Rs.5,002 per gram as the rate slipped on the final day of the week. The performance of gold in the metropolitan city witnessed an inclining trend.

    May 2021 - Week 4 (22 - 28):

    • In Chennai, gold rates opened the fourth week of the month at Rs.5,006 per gram on 23 May and increased marginally to Rs.5,013 per gram on 24 May. The price of the metal dipped on 25 May to Rs.5,010 per gram.
    • On 26 May, gold prices in Chennai increased substantially to Rs.5,070 per gram due to a weaker dollar value and hit its highest price of the month on 27 May at Rs.5,071 per gram.
    • However, due to profit booking and international trends, the gold rate dipped and closed the week at Rs.5,029 per gram on 28 May.

    May 2021 - Week 5 (29 - 31):

    • In Chennai, gold rate opened the fifth week of the month at Rs.50,17 per gram on 29 May and increased to Rs.5,031 per gram on 30 May due to a weaker dollar.
    • On the last day of the month, gold prices increased and closed at Rs.5,048 per gram on 31 May, recording an overall incline.

    Gold Rate Trend in Chennai for April 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    April 1 Rate Rs.4,610 per gram
    April 30 Rate Rs.4,599 per gram
    Highest Rate in April Rs.4,917 per gram on 22 April
    Lowest Rate in April Rs.4,599 per gram on 30 April
    Overall Performance Decline

    April 2021 - Week 1 (1 - 4):

    • A gram of 24-karat gold was retailed at Rs.4,608 at the start of the fifth week of March. The price of the yellow metal was down by Rs.10 when compared to the closing price of the previous week.
    • Over the next two days, the rate of the precious metal fluctuated in the metropolitan city.
    • Gold price in Chennai closed the month at Rs.4,572 per gram with the metal’s overall performance being one of decline.

    April 2021 - Week 2 (5 - 11):

    • In Chennai, gold was priced at Rs.4,668 per gram on 5 April and declined marginally to Rs.4,645 per gram on 6 April. However, the metal’s value recovered and increased to Rs.4,689 per gram on 7 April.
    • The price of the metal on 8 April increased to cross the Rs.4,700 per-gram mark at Rs.4,728 per gram and further increased to Rs.4,762 per gram on 9 April.
    • On a weaker dollar value, the value of the yellow metal increased to Rs.4,778 per gram on 10 April and declined marginally to Rs.4,772 per gram to close the week on 11 April.

    April 2021 - Week 3 (12 - 18):

    • A gram of 24-karat gold was priced at Rs.4,772 per gram in Chennai on 12th April. No change was recorded in the price of the yellow metal when the rate was compared to the previous week’s closing price.
    • Over the week, gold price in Chennai recorded a lot of fluctuations in the metropolitan city. Gold recorded its highest price for the month till date on 18th April when a gram was priced at Rs.4,857.
    • Gold’s overall performance in the city recorded an inclining trend.

    April 2021 - Week 4 (19 - 25):

    • In Chennai, gold prices were at Rs.4,858 per gram on 19 April, opening the fourth week of the month. The price of the metal declined marginally to Rs.4,855 per gram on 20 April and increased on 21 April to cross the Rs.4,900 per-gram mark at Rs.4,916 per gram.
    • The gold rate in Chennai was at its highest on 22 April at Rs.4,917 per gram due to a weak dollar value and lower U.S. bond yields. However, gold prices declined marginally on 23 April to Rs.4,910 per gram.
    • The price of the metal declined substantially on 24 April to below the Rs.4,700 per-gram mark at Rs.4,683 per gram as the dollar value recovered and closed the week at the same rate on 25 April.

    April 2021 - Week 5 (26 - 30):

    • Gold price in Chennai at the start of the week was Rs.4,683 per gram. There was no change in the price of the yellow metal when the rate was compared to the closing price of the previous week.
    • The price of gold slipped in the metropolitan city over the next two days before increasing on 29th April. On the mentioned, a gram of gold cost Rs.4,652 in Chennai.
    • The yellow metal closed the month at Rs.4,599 per gram after witnessing a fall on the final day. Gold’s overall performance in Chennai was one of decline.

    Gold Rate Trend in Chennai for March 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    March 1 Rate Rs.4,725 per gram
    March 31 Rate Rs.4,572 per gram
    Highest Rate in March Rs.4,737 per gram on 2 March
    Lowest Rate in March Rs.4,559 per gram on 13 March
    Overall Performance Decline

    March 2021 - Week 1 (1 - 7):

    • In Chennai, the price of gold at the start of the week was Rs.4,725 per gram. The rate of the precious metal was down by Rs.35 for every gram when the price was compared to the closing price of the previous week.
    • Gold price in the metropolitan city recorded its highest price for the month till date on 2nd March when a gram was retailed for Rs.4,737. The price of the yellow metal slipped in Chennai following that.
    • The yellow metal recorded its lowest price for the month till date on 6th March when a gram of 24-karat gold costed Rs.4,599. Gold price in Chennai closed the week at Rs.4,600 per gram with the overall performance recording a declining trend.

    March 2021 - Week 2 (8 - 14):

    • In the second week of the month, the gold rate in Chennai was Rs.4,601 per gram on 8 March and increased marginally to Rs.4,606 per gram on 9 March due to the volatility in the market. On 10 March, the price of the metal dipped to its lowest level at Rs.4,585 per gram.
    • However, with a fall seen in the U.S. dollar value, the rate of gold increased to Rs.4,599 per gram on 11 March and the following day, crossed the Rs.4,600 per-gram mark at Rs.4,635 per gram on 12 March.
    • With the U.S. Treasury yields showing a positive trend, the price of the metal dipped to Rs.4,559 per gram on 13 March and closed the week at Rs.4,616 per gram on 14 March.

    March 2021 - Week 3 (15 - 21):

    • Gold price in Chennai was Rs.4,611 per gram at the start of the third week of March. The price charged for a gram of the yellow metal was down by Rs.5 when the rate was compared to the previous week’s closing price.
    • Over the week, the price of gold witnessed a declining trend in the metropolitan city. The rate of the yellow metal saw slight fluctuations in the city and a gram was retailed for Rs.4,646 on 19th March.
    • While the rate of the precious metal slipped on the penultimate day of the week, gold price recovered slightly on the final day and closed at Rs.4,635 per gram.

    March 2021 - Week 4 (22 - 28):

    • Gold rate in Chennai opened the fourth week of the month at Rs.4,634 per gram and immediately showed a declining trend, falling to Rs.4,594 per gram on 23 March. However, gold prices recovered and were Rs.4,613 per gram on 24 March.
    • Increasing marginally to Rs.4,615 per gram on 25 March, the price of the metal dipped to Rs.4,600 per gram on 26 March due to mixed trends seen in the international market as the dollar value increased.
    • Dipping to Rs.4,599 per gram on 27 March, the price of the precious metal was Rs.4,618 per gram on 28 March, closing the week with an overall decline.

    March 2021 - Week 5 (29 - 31):

    • A gram of 24-karat gold was retailed for Rs.4,608 at the start of the fifth week of March. The price of the yellow metal was down by Rs.10 when compared to the closing price of the previous week.
    • Over the next two days, the rate of the precious metal fluctuated in the metropolitan city.
    • Gold price in Chennai closed the month at Rs.4,572 per gram with the metal’s overall performance being one of decline.

    Gold Rate Trend in Chennai for February 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    February 1 Rate Rs.5,084 per gram
    February 28 Rate Rs.4,758 per gram
    Highest Rate in February Rs.5,084 per gram on 1 February
    Lowest Rate in February Rs.4,735 per gram on 19 February
    Overall Performance Decline

    February 2021 - Week 1 (1 - 7):

    • In Chennai, gold opened the month at Rs.5,084 per gram on 1 February and recorded its highest price on the day. The precious metal’s value declined on the following day to Rs.5,013 per gram due to higher risk appetite amongst investors.
    • Gold rates dipped further on 3 February to below the Rs.5,000 per-gram mark at Rs.4,979 per gram. With the dollar value increasing in the market, gold prices dipped to Rs.4,906 per gram on 4 February.
    • Gold price in Chennai showed continuous declines through the week and dipped to below the Rs.4,900 per-gram mark on 5 February. However, the metal’s value recovered and closed at Rs.4,873 per gram.

    February 2021 - Week 2 (8 - 14):

    • Gold rate in Chennai was Rs.4,863 per gram on 8 February, opening the second week of February. The price of the metal increased to Rs.4,871 per gram on 9 February. The value of gold was at its highest during the week on 10 February at Rs.4,946 per gram.
    • On 11 February, gold rates dipped marginally to Rs.4,914 per gram and recovered the next day on 12 February at Rs.4,935 per gram.
    • Increasing marginally yet again on fresh stimulus packages hopes among investors, gold prices were Rs.4,871 per gram on 13 February and closed the week at Rs.4,875 per gram on 14 February.

    February 2021 - Week 3 (15 - 21):

    • The price of gold in Chennai at the start of the third week of February was Rs.4,876 per gram. Compared to the price charged on the final day of the previous week, the rate of the yellow metal was up by Re.1 for every gram.
    • After having stayed unchanged for the next day, gold price in Chennai started to slip and recorded its lowest price for the month till date on 19th February when a gram cost Rs.4,735.
    • Gold price in Chennai recovered slightly over the last two days of the week and closed at Rs.4,775 per gram. In the metropolitan city, the overall performance of the yellow metal witnessed a declining trend.

    February 2021 - Week 4 (22 - 28):

    • The rate of gold in Chennai was Rs.4,776 per gram on 22 February, opening the fourth week of February after which it increased to cross the Rs.4,800 per-gram mark on 23 February at Rs.4,830 per gram.
    • Increasing marginally on 24 February to Rs.4,831 per gram due to steady demand seen in the market and mute trends in the international market, gold price in Chennai dipped on the following day to Rs.4,812 per gram on 25 February. On 26 February, gold prices dipped to Rs.4,770 per gram.
    • The price of the metal dipped further due to a strong dollar on 27 February to Rs.4,758 per gram and closed the week and the month at the same rate.

    Gold Rate Trend in Chennai for January 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.4,965 per gram
    January 31 Rate Rs.5.078 per gram
    Highest Rate in January Rs.5,329 per gram on 7 January
    Lowest Rate in January Rs.4,838 per gram on 17 January
    Overall Performance Incline

    January 2021 - Week 1 (1 - 9):

    • Gold rate in Chennai opened the month of January 2021 at Rs.4,965 per gram on 1 January and increased marginally to Rs.4,985 per gram on 2 January. The metal’s prices held steady on the following day at the same rate.
    • On 4 January, the metal’s value inclined to Rs.5,220 per gram with higher risk appetite and further increased to Rs.5,253 per gram on 5 January. The price of the yellow metal hit its highest price of the week on 7 January at Rs.5,329 per gram.
    • Gold prices dipped marginally to Rs.5,242 per gram on 8 January and closed the week, recording an overall incline at Rs.5,186 per gram on 9 January.

    January 2021 - Week 2 (10 - 16):

    • In Chennai, gold opened the second week of January at Rs.5,128 per gram. When compared to the closing price of the previous week, the price for every gram was down by Rs.58 in the metropolitan city.
    • While the price of the yellow metal dipped over the next two days, it recorded a minimal increase on 13th January and was priced Rs.5,106 per gram.
    • Gold price in Chennai continued to slip over the last three days of week and closed at Rs.5,078 per gram. The overall performance of the yellow metal in the city was one of incline.

    January 2021 - Week 3 (17 - 23):

    • Gold prices in Chennai were Rs.4,838 per gram on 17 January, decreasing from Rs.5,078 per gram which was its previous closing price. The price of the metal increased marginally on 18 January to Rs.4,962 per gram.
    • With the value of the U.S. dollar dipping, gold prices increased to Rs.5,033 per gram on 19 January and further to Rs.5,052 per gram on 20 January. On 21 January, gold was priced at Rs.5,074 per gram.
    • However, at the end of the week, gold prices dipped as the value of the dollar recovered in the international market and closed the week at Rs.4,838 per gram on 23 January.

    January 2021 - Week 4 (24 - 31):

    • Gold opened the final week of January at Rs.4,888 per gram in Chennai. When compared to the closing price of the previous week, the price of the yellow metal didn’t see any change.
    • While the price of the yellow metal climbed the following day, it slipped considerably over the next few days. A gram of the 24-karat gold was retailed for Rs.5,056 on 28th January.
    • Gold price in Chennai climbed over the last three days of the week and closed at Rs.5,078 per gram. In Chennai, the yellow metal witnessed an inclining trend.

    Gold Rate Trend in Chennai for December 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.4,931 per gram
    December 31 Rate Rs.5,143 per gram
    Highest Rate in December Rs.5,212 per gram on 21 December
    Lowest Rate in December Rs.4,931 per gram on 1 December
    Overall Performance Incline

    December 2020 - Week 1 (1 - 6):

    • Gold price in Chennai at the start of the first week of December was Rs.4,931 per gram. The price of the yellow metal was down by Rs.4 per gram when compared to the closing price of the previous month.
    • The price of gold climbed to Rs.5,080 in the metropolitan city on 5th December. This was the highest recorded price of the yellow metal for the month till date in the metropolitan city.
    • Gold closed the week at Rs.5,076 per gram in Chennai after the rates slipped slightly. The overall performance of gold witnessed an inclining trend in the rates.

    December 2020 - Week 2 (7 - 13):

    • Gold rate in Chennai opened at Rs.5,077 per gram on 7 December and increased to hit the highest in week at Rs.5,163 per gram on 8 December. However, on 10 December, the price of the metal dipped to Rs.5,067 per gram.
    • Dipping to Rs.5,060 per gram on the following day on 11 December 2020, the price of the metal increased to Rs.5,080 per gram on 12 December.
    • At the end of the week, gold rates increased marginally and closed the week at Rs.5,081 per gram on 13 December recording an overall incline.

    December 2020 - Week 3 (14 - 20):

    • Gold price in Chennai at the start of the week was Rs.5,082 per gram. When compared to the closing price of the previous week, the price of the yellow metal witnessed an increase of Re.1.
    • The price of the precious metal slipped in the metropolitan city on 15th December and was retailed for Rs.5,049 per gram. Following that, the rates recovered gradually in the southern city.
    • The increase in the price of the yellow metal saw gold close the week at the highest recorded price for the month till date. A gram of the 24-karat gold was retailed for Rs.5,176 on the mentioned date. In Chennai, gold price witnessed an inclining trend.

    December 2020 - Week 4 (21 - 27):

    • Gold rates in chennai showed a fluctuating trend throughout the fourth week of the month, opening at Rs.5,212 per gram on 21 December which was the highest price of the metal in the week.
    • Dipping to Rs.5,178 per gram on 22 December as investors held on to their investments and awaited on the decision by the United States Government on the COVID-19 stimulus package. On 23 December, the metal’s price dipped to Rs.5,167 per gram.
    • On Christmas Day, gold prices had increased marginally to Rs.5,158 per gram and increased further to Rs.5,160 per gram on the following day. On 27 December, the metal’s price showed an incline and closed at Rs.5,161 per gram.

    December 2020 - Week 5 (28 - 31):

    • In Chennai, gold price at the start of the fifth week of December was Rs.5,190 per gram. The price of the yellow metal witnessed an increase of Rs.29 for every gram when the price was compared to the closing price of the previous week.
    • The price of the precious metal slipped in the metropolitan city over the week. The drop in the rates saw a gram of the 24-karat gold being retailed for Rs.5,155 on 30th December.
    • Gold price in Chennai closed the week at Rs.5,143 per gram. The overall performance of gold witnessed an inclining trend in the rates.

    Gold Rate Trend in Chennai for November 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.5,194 per gram
    November 22 Rate Rs.4,935 per gram
    Highest Rate in November Rs.5,339 per gram on 10 November
    Lowest Rate in November Rs.4,935 per gram on 30 November
    Overall Performance Decline

    November 2020 - Week 1 (1 - 8):

    • Opening at Rs.5,194 per gram on 1 November, the gold rate in Chennai in the first week of November showed a positive trend in the Indian market due to various factors.
    • The precious metal was priced at Rs.5,193 per gram on 3 November, after hitting its weekly low on 2 November at Rs.5,192 per gram. On 4 November, the price of gold increased and was Rs.5,238 per gram.
    • Gold prices escalated towards the end of the week, increasing to Rs.5,247 per gram on 6 November and hit its weekly high on the last day of the week at Rs.5,316 per gram on 8 November.

    November 2020 - Week 2 (9 - 15):

    • The price of gold opened the second week of November at Rs.5,317 per gram in Chennai. When compared to the closing price of the previous week, the price was up by Re.1.
    • Over the week, gold rate in Chennai witnessed slight fluctuations. The yellow metal recorded its highest price for the month till date on 10th November when a gram of the 24-karat gold cost Rs.5,339.
    • Gold’s overall performance in the metropolitan city witnessed an inclining trend in the rates.

    November 2020 - Week 3 (16 - 22):

    • In Chennai, the gold rate opened the third week of November at Rs.5,206 per gram on 16 November and increased to Rs.5,239 per gram on the following day due to a rise in COVID-19 cases.
    • However, the price of the metal kept declining after 17 November as risk appetite increased amongst investors as the value of the metal dipped to Rs.5,222 per gram on 18 November. On 19 November, the gold rate in Chennai was Rs.5,185 per gram.
    • At the end of the week, the rate of the metal dipped and closed at Rs.5,199 per gram on 22 November and recorded an overall weekly decline in prices.

    November 2020 - Week 4 (23 - 30):

    • Gold rate in Chennai was Rs.5,199 per gram on 23 November and showed a declining trend throughout the week due to increased risk appetite amongst positive trends in the equities market.
    • On 25 November, the price of the metal dipped to Rs.5,062 per gram and dipped further to Rs.5,006 per gram on 28 November as the value of the dollar rose in the international market.
    • The price of the precious metal dipped below the Rs.5,000 per gram levels to Rs.4,991 per gram on 29 November and closed the month with the lowest price at Rs.4,935 per gram on 30 November.

    Gold Rate Trend in Chennai for October 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    October 1 Rate Rs.5,274 per gram
    October 31 Rate Rs.5,193 per gram
    Highest Rate in October Rs.5,332 per gram on 13 October
    Lowest Rate in October Rs.5,096 per gram on 21 October
    Overall Performance Decline

    October 2020 - Week 1 & 2 (1 -11):

    • Gold rate in Chennai opened the first week of October at Rs.5,274 per gram and showed an inclining trend throughout the week. On 4 October, the price of the metal increased marginally to Rs.5,291 per gram.
    • Gold price in Chennai on 6 October dipped yet again to Rs.5,239 per gram as the value of the U.S. increased in the market. The price of the metal showed constant fluctuations and was Rs.5,242 per gram on 8 October.
    • Today, on 9 October, gold price hit its lowest price of the week at Rs.5,237 per gram.
    • Closed the week at its highest price of October at Rs.5,325 per gram on 11 October.

    October 2020 - Week 3 (12 - 18):

    • The price of gold in Chennai at the start of the third week of October was Rs.5,326 per gram. Compared to the price charged on the final day of the previous week, the rate was up by Re.1
    • Gold price in Chennai witnessed some fluctuations over the week due to certain factors. The highest and lowest price of the precious metal for the month till date was recorded on 13th and 18th October when a gram cost Rs.5,332 and Rs.5,106 respectively.
    • Gold rate in Chennai closed the week at Rs.5,106 per gram with the overall performance witnessing a declining trend.

    October 2020 - Week 4 (19 - 25):

    • In Chennai, the price of gold opened the fourth week of the month at Rs.5,107 per gram and showed a weekly incline in its prices. Gold rate on 20 October increased to Rs.5,174 per gram due to uncertainty about the U.S. stimulus package.
    • Gold price in Chennai fluctuated heavily during the week and was Rs.5,134 per gram on 22 October and increased marginally to Rs.5,150 per gram on the following day.
    • The rate of gold in Chennai showed a declining trend in the last two days of the week, dropping to Rs.5,139 per gram on 24 October and closing at Rs.5,128 per gram on 25 October.

    October 2020 - Week 5 (26 - 31):

    • The price of gold opened the fifth week of October at Rs.5,152 per gram in Chennai. When compared to the closing price of the previous week, there was an increase of Rs.24 in the price of the yellow metal.
    • While the price of gold slipped in the metropolitan city the following day, the rates increased to Rs.5,200 on 29th October before slipping again.
    • Gold price in Chennai fluctuated over the last two days of the month and closed at Rs.5,193 per gram. The overall performance of gold in the city witnessed a declining trend in the rates.

    Gold Rate Trend in Chennai for September 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.5,221 per gram
    September 30 Rate Rs.5,354 per gram
    Highest Rate in September Rs.5,408 per gram on 21 September
    Lowest Rate in September Rs.5,019 per gram on 26 September
    Overall Performance Incline

    September 2020 - Week 1 (1 - 6):

    • Opening the month of September, the gold rate in Chennai was Rs.5,221 per gram on 1 September and dipped to its lowest price of the month on 2 September to Rs.5,162 per gram.
    • However, with the dollar value dropping in the international market, gold prices increased and hit its highest price of the month on 3 September at Rs.5,364 per gram.
    • At the end of the week, gold price in Chennai closed at Rs.5,332 per gram on 6 September, decreasing marginally from the weekly high and recording an overall incline.

    September 2020 - Week 2 (7 - 13):

    • In Chennai, the price of gold opened the second week of September at Rs.5,333 per gram. There was a minimal increase in the rates when compared to the price charged on the final day of the previous week.
    • Gold rate in Chennai climbed to its highest for the month till date on 11th September when a gram cost Rs.5,373 per gram.
    • The price of gold in Chennai slipped over the last two days of the week and closed at Rs.5,335 per gram. The overall performance of gold rate in Chennai witnessed an inclining trend.

    September 2020 - Week 3 (14 - 20):

    • Gold rate in Chennai opened the third week of September at Rs.5,336 per gram in Chennai. When compared to the closing price of the previous week, the price was up by Re.1.
    • Over the week, gold price in Chennai fluctuated. The yellow metal recorded its highest price for the month till date on 20th September when a gram of the 24-karat gold cost Rs.5,407.
    • Gold’s overall performance in Chennai witnessed an inclining trend in the rates.

    September 2020 - Week 4 (21 - 27):

    • Gold price in Chennai opened at Rs.5,408 per gram in the fourth week of the month on 21 September. The price of the metal showed a declining trend throughout the week due to the rising value of the dollar.
    • The price of gold in Chennai dipped below the Rs.5,400 per gram mark at Rs.5,383 per gram on 22 September, further falling below the Rs.5,300 per gram mark at Rs.5,248 per gram on 23 September.
    • Today, on 26 September, gold rate in Chennai hit its lowest at Rs.5,019 per gram on 26 September and closed the week at Rs.5,215 per gram on 27 September.

    September 2020 - Week 5 (28 - 30):

    • Gold price in Chennai opened the fifth and final week of September at Rs.5,216 per gram. The price of gold was up by Re.1 when compared to the previous week’s closing price.
    • On 29th September, gold rate in Chennai dipped before increasing on the final day and closing the month of September at Rs.5,354 per gram.
    • The overall performance of gold witnessed an inclining trend in Chennai.

    Gold Rate Trend in Chennai for August 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.5,583 per gram
    August 31 Rate Rs.5,360 per gram
    Highest Rate in August Rs.5,914 per gram on 8 August
    Lowest Rate in August Rs.5,367 per gram on 27 August
    Overall Performance Decline

    August 2020 - Week 1 (1 - 9):

    • Gold rate in Chennai opened the month of August at Rs.5,583 per gram and showed heavy inclines during the week due to international market trends.
    • With the U.S. dollar value taking a dip along with a stimulus package being released by the United States Federal Reserve, safe-haven demand for gold increased.
    • today, on 6 August, gold price in Chennai crossed the Rs.5,800 per gram mark
    • The rate is highest on 8 August at Rs.5,914 per gram. Gold rate closed at Rs.5,870 per gram on 9 August.

    August 2020 - Week 2 (10 - 16):

    • In Chennai, the price of the 24-karat gold at the start of the week was Rs.5,871 per gram. There was a minimal increase in the price of gold when compared to the price charged on the final day of the previous week.
    • Gold rate in Chennai slipped to its lowest for the month till date on 12th August when a gram cost Rs.5,468 in the metropolitan city.
    • Gold price in Chennai increased following that before dropping again on the final day of the week and closing at Rs.5,566 per gram. The overall performance witnessed a declining trend in the rates.

    August 2020 - Week 3 (17 - 23):

    • Gold rate in Chennai was at Rs.5,567 per gram on 17 August and dipped marginally to Rs.5,533 per gram on the next day. On 19 August, the value of the metal increased to cross the Rs.5,600 per gram mark at Rs.5,637 per gram.
    • On 20 August, the gold price in Chennai dipped marginally to Rs.5,625 per gram and dipped to below the Rs.5,600 per gram mark on 21 August to Rs.5,547 per gram.
    • The gold rate in Chennai remained steady at Rs.5,547 per gram on 22 August. However, on the last day of the week, the gold price dipped by Rs.40 and closed at Rs.5,507 per gram.

    August 2020 - Week 4 (24 - 31):

    • The price of the 24-karat gold in Chennai at the start of the week was Rs.5,508 per gram. There was a minimal increase of Re.1 in the price of the yellow metal when compared to the closing price of the previous week.
    • Over the first few days of the week, the price of gold slipped in the metropolitan city. The decline in the rates saw gold record its lowest price for the month on 27th August when a gram cost Rs.5,367.
    • Today, on 28th August, gold rate made some gains
    • Gold price in Chennai slipped again and closed the month at Rs.5,360 per gram with the overall performance witnessing a declining trend.

    Gold Rate Trend in Chennai for July 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    July 1 Rate Rs.5,049 per gram
    July 31 Rate Rs.5,561 per gram
    Highest Rate in July Rs.5,561 per gram on 31 July
    Lowest Rate in July Rs.5,049 per gram on 1 July
    Overall Performance Incline

    July 2020 - 1st Week (01 - 05):

    • Gold price in Chennai opened the month of June at Rs.5,049 per gram which was the lowest price of the week. With the surge in the number of COVID-19 all over the country, safe-haven demand for the metal rose to a great extent and the yellow metal hit its highest price in many years, crossing the Rs.5,050 per gram mark at Rs.5,096 per gram on 2 July.
    • Today, on 3 July, the price of gold in Chennai dipped as investors shifted slightly towards the equities with positive data being shown in the United States of America and risk appetite increasing due to a possible vaccine breakthrough in the country. On 3 July, gold rate in chenaai is at Rs.5,095 per gram, further dipping marginally to Rs.5,089 per gram on 4 July.
    • At the end of the week, gold rate dipped further as investors waited for further developments on the vaccine, amidst a continuous surge in COVID-19 cases in the country. Gold rate in Chennai closed the first week of July at Rs.5,085 per gram, showing an overall weekly incline in prices.

    July 2020 - Week 2 (06 - 12):

    • In Chennai, the value of gold opened the second week of the month at Rs.5,086 per gram on 6 July and showed an overall incline for the week. This was majorly due to the surge in COVID-19 cases all over the world, mainly in the United States of America. On 7 July, the value of gold rate in Chennai dipped marginally to Rs.5,072 per gram with the value of the U.S. dollar rising in the economy which shifted focus from the bullion to equities.
    • The value of the metal on 8 July dipped further to Rs.5,063 per gram due to market fluctuations and increased risk appetite. However, on 9 July, the value of the metal increased and was Rs.5,100 per gram, increasing by almost Rs.40 due to decreasing risk sentiment amongst investors and the rise in the COVID-19 cases.
    • On 10 July, the price of gold increased to Rs.5,147 per gram and dipped marginally on 11 July to Rs.5,121 per gram. The constant fluctuation in prices was due to the rise in COVID-19 cases all over the country and the world. Along with this, positive data in the equities market increased risk appetite amongst investors. With this, the metal closed the week on 12 July at Rs.5,118 per gram with an overall incline.

    July 2020 - Week 3 (13 - 19):

    • Gold price in Chennai at the start of the third week of July was Rs.5,119 per gram. There was a minimal increase in the rates when compared to the price charged on the final day of the previous week.
    • The price of gold saw slight fluctuations over the three days before recording its highest price for the month till date on 17th July with a gram costing Rs.5,148.
    • Gold rate in Chennai slipped by Rs.33 the next day before recovering and closing at Rs.5,133 per gram. The overall performance of the metal over the week witnessed an inclining trend.

    July 2020 - Week 4 (20 - 26):

    • The price of gold in Chennai was Rs.5,134 per gram at the start of the fourth week of July. The rate of the precious metal witnessed a minimal increase of Re.1 when compared to the price charged on the final day of the week.
    • Gold rates slipped in the city the next day before increasing gradually over the week. The yellow metal recorded its highest price for the month till date on the final day of the week.
    • Gold price in Chennai closed the week at Rs.5,348 per kg. Over the week, the rates witnessed an inclining trend.

    July 2020 - Week 5 (27 - 31):

    • Gold rates in Chennai were Rs.5,349 per gram on 27 July and increased throughout the week. With the rising number of COVID-19 cases all over the world, safe-haven demand increased.
    • With an inclining trend, the metal’s price increased to Rs.5,431 per gram on 28 July. On the next day, the metal crossed the Rs.5,500 per gram mark.
    • At the end of the week, gold prices recorded its highest value in the week and closed at Rs.5,561 per gram on 31 July with an overall weekly incline.

    Also Check Gold Price in Metro Cities

    FAQ's on Gold Price in Chennai

    1. Where to Buy Gold in Chennai?

      Gold is often bought from reputed jewelers in Chennai. Some of the key players are Tanishq, GRT, Kirtilal Kalidas, Damini, Prince Jewellery, Mehta Jewellery, Khazana Jewellery etc. They offer a wide range of gold items including ornaments, gold coins and other customized gold pieces. All stores quote the latest gold rates and are a good source of information on how the gold market is performing as dealers and customers interact during their trades. Gold bars, biscuits and coins can be purchased from banks as well but they do not offer buy-back facilities. Jewelers or gold traders will, on the other hand, buy these items from retail buyers.

    2. How to Invest in Gold?

      As with most gold purchases across India, gold is purchased to hedge against inflation. All metros across India, including Chennai, have seen a spike in the cost of living and this is only expected to go higher. Gold has traditionally been viewed as a form of investment which holds value even during times of uncertainty, mainly because gold almost always has good resale value and can be easily sold making it a very liquid asset. In fact, gold becomes more valuable during a crisis.

      Inflation erodes a person’s savings. When inflation is accounted for in calculating total returns from an investment e.g. bank fixed deposits, the effective return of the investment is adversely affected. Also, when other forms of investment are expected to underperform, investors move their money into gold.

      • Jewelry: Although the most popular way of investing on gold, buyers often ignore the fact that making charges and wastage are deducted when estimating how much a particular piece of jewelry is worth. A retail buyer who wishes to sell jewelry at a later date may not receive the total current gold rate after allowing for such deductions.

        Residents and visitors to Chennai are always keen to know about the various jewelry shops in and around the city. Many of the country’s leading jewelers have retail outlets here. Gold rates in Chennai are important for those indulging in gold shopping. This is especially true during auspicious occasions and marriages when gold is bought in large quantities.

      • Gold coins: A large portion of Chennai’s gold-buying population invests in gold coins; usually 24K gold coins. One of the reasons for this is because, 24K gold, being pure, can be converted to jewelry by alloying it with other base metals. Again, well-known, established jewelers in Chennai are sought out to buy these gold coins as they can be trusted when it comes to purity of coins. If a coin is not pure, the gold rate applicable at time of sale will be as per the coin’s fineness i.e. the actual amount of purity of the coin.

    3. What is the current gold price trend in Chennai?

      Gold trade in Chennai has had a pretty good run since the beginning of the year. With demand for the metal improving significantly in the domestic level, the bullion markets have witnessed a gradual increase in gold prices in the last few months. According to experts, with demand from jewelleries and industrial units expected to rise in the state, gold rates in Chennai are highly anticipated to edge higher further into the year.

    4. How did the implementation of GST affect gold rate in Chennai?

      Prior to GST, the previous government tax policy had imposed a 12.2% tax on the precious metal. Gold attracted an import duty of 10%, value-added tax (VAT) of 1.2% and customs duty of 1%. However, with the introduction of Goods and Services Tax (GST) on 01 July 2017, the GST council has eliminated VAT and excise duty and replaced it with GST, which shall remain unaltered for all states in the country. The implementation of GST was mainly aimed to address issues of transparency and bring about a new era of consistency in gold trading. As per the new GST law, gold is assessed at 13%, out of which 10% is the import duty and the remaining 3% is the goods and services tax (GST). However, in the retail sector, an additional 5% making charge will be added on top of the 10% import duty and 3% GST.

    5. What is the difference between KDM gold and Hallmark gold in Chennai?

      Before purchasing gold, it is vital for the consumer to understand the difference between KDM gold and hallmarked gold. In simple words, gold is categorised into KDM and hallmark based on the metal used for purity and alloying of gold. Gold in its purest form is a soft, ductile and malleable form. Hence, to obtain the jewellery form, gold is put in shape by soldering with another metal with a melting point lower than that of gold such that only the solder metal melts and combines the pieces of gold. Initially, cadmium was used as the solder metal due to its low melting point and liquidity. Mixing cadmium and gold in the ratio of 8% and 92% respectively resulted in the solder retaining up to 92% purity level. However, the use of cadmium as a solder was banned by the Bureau of Indian Standard (BIS) after it resulted in severe health problems like skin allergies to goldsmiths and artisans. Now, cadmium has been replaced by other metals such as zinc or copper, which has, in turn, resulted in minimal health risks in the industry.

      Hallmark, on the other hand, is the certification of quality awarded to the gold by the Bureau of Indian Standards (BIS). BIS assesses whether the gold meets and complies with the national as well as international fineness and purity standards. A hallmark gold is engraved with features including the BIS logo, purity level, logo of the assaying centre, year of certification and the logo of the retailer. Hence, it is advised to always purchase BIS certified hallmarked gold.

    6. What are the Factors affecting Gold Prices in Chennai?

      The bullion trade in Chennai involves a variety of factors which influences the prices slapped on the precious metal. Here’s a list of factors that affect gold prices in Chennai:

      • The currency exchange between the US dollar and the Indian rupeeIndia, being the world’s second-largest importer of gold, mostly trades in US dollar for the bullion. With gold being a dollar-dependant asset, whenever the US dollar strengthens against the rupee, gold rates in Chennai surge. This is due to the excess import charges that are to be paid by the traders which in turn, flows down to the next subsequent level of gold trading. Similarly, if the US dollar loses against the rupee, gold prices tend to comparatively go low in the domestic market.
      • Bullion associationsIn Chennai, gold prices are fixed twice in a day. The price of gold when trading commences for the day is called the opening price and the rate at which gold trading concludes for the day is called the closing price. Most of the jewellers in the city are members of an association and those associations are one who fixes the prices for gold. In Chennai, most jewellers are affiliated to the Madras Jewellers and Diamonds Association. The association notifies their members on gold rates at least twice a day. Hence, investors who plan on purchasing gold in Chennai must check the prices before buying. Ensure that you also inquire about the quality and request for the receipt.
      • LogisticsAnother important factor that gold rates depend on are the logistics. In short, it is the logistics sectors that determine the time gold takes after being imported to reach the hands of the consumers. Gold, being a precious asset and of high monetary value, is obligated to a high level of safeguarding. In other words, gold rates are also expected to increase or decrease depending on the level of crisis in the city. The harder it is to bring in gold to a city, the higher the costs are likely to be.
    7. Different means of investing in gold in Chennai

      It is important to know every aspect of your investment before making the purchase. So, this section is solely aimed at helping you get a better idea of all the things you need know before investing in the precious metal.

      • Purity of gold:The purity of gold is measured in karats and are classified into various levels based on the amount of gold content to other alloys or impurities in the jewellery. Some of the most common gold considering the purity levels are 14 karat (58.33% pure ), 18 karat (75% pure), 22 karat (92% pure) and 24 karat(99.9% and above) gold. Despite 24 karat gold being the purest form, commercial use of the metal is restricted in the jewellery sector due to its high malleability and ductility factor that limits its level of customizability to jewellers. However, 24 karat gold costs more than any other form of gold and checking the purity before investing your hard-earned money is advised. The hallmark of the gold indicates its level of purity. Ensure that you always purchase hallmarked jewellery.
      • Labour charges:A labour charge is basically the making charge involved in creating a specific jewellery by the jeweller. The maker charges an amount on the jewellery depending on the complexity and detailing required for the design. Since, labour charges are influenced by the current gold rates, requesting for a fixed making charge is advisable as it could bring down the cost of investment.
      • Certification:The sole aim of certification is to make sure that the customer isn’t overcharged or deceived by the jeweller. The Bureau of Indian Standards (BIS) certifies and authenticates the gold based on its level of purity. The smarter way to go about the purchase for the customer is to check the certification of gold before buying it.
      • Weight:Gold jewellery in India is mostly sold based on its weight. The addition of precious gems such as diamonds makes the jewellery or ornament heavier during the process. The prices of the precious stones will also be included in the price of the jewellery. Hence, it is necessary to keep this in mind while buying jewels that are studded as one might be paying his/her hard-earned money for the gold which isn’t there.
      • Time of purchase:One might believe that the gold costs the same irrespective of the time of purchase. However, prices tend to go up or down with respect to consumer demand. Demand is most likely to be high during festive seasons as people are expected to spend more compared to the off season. Keep track of the gold rates during purchases and be on a lookout for offers put up by reputed jewellers to save yourselves some extra money for other investments.

    Government makes hallmarking of gold jewellery mandatory from today

    The Ministry of Consumer Affairs, Food and Public Distribution has made hallmarking of gold jewellery mandatory from today. Certain guidelines have been issued by the ministry in this regard after consultations with stakeholders. It has come into effect initially in 256 districts which have assaying marking centres.

    As per the new guidelines, jewellers with annual turnover up to Rs.40 lakh will be exempted from mandatory hallmarking. For export and re-import of jewellery as per the trade policy of the government, watches, fountain pens and special types of jewellery are also exempted from hallmarking. Gold of additional carats 20, 23 and 24 will also be allowed for hallmarking going forward. The ministry added that old jewellery can be hallmarked as it is by the jeweller if feasible or after melting and making new jewellery. It added that a committee constituting of representatives of all stakeholders, revenue officials and legal experts will be formed to look into the issues that may emerge during the implementation of the scheme.

    The move to hallmark gold jewellery will enable consumers and jewellery buyers to make a right choice and save them from any unnecessary confusion while buying gold. It will also help develop the country as a leading global gold market centre.

    It needs to be mentioned here that in order to give adequate time to the manufacturers, wholesalers and retailers of gold jewellery, no penalties will be imposed till August end.

    Also Check Petrol Price and Diesel Price in Chennai

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    News About Gold Rate in Chennai

    • Gold prices in India on 12 October 2021

      Gold prices in India fell in sync with the fall in global rates. Internationally, spot gold was priced at $1,753.77 per ounce while gold futures in the US were trading at $1,754.90. Gold trades on the Multi Commodity Exchange (MCX), had dipped to Rs.47,036 per 10 grams with 13,743 lots of business turnover.

      13 October 2021

    • Gold prices remain flat on 17 August 2021

      The price of gold in India remained the same on 17 August and stayed around a 2-week peak following the continued Covid-19 pandemic and geopolitical changes. On the Multi Commodity Exchange (MCX), gold prices rose by Rs.7, or 0.01%, to settle at Rs.47,232 for 10 grams. Spot gold prices were at Rs.46,993 for 10 grams on 16 August. US gold futures eased to settle at $1788.40, a difference of 0.1%.

      18 August 2021

    • Yellow metal trades higher, experts say resistance seen above Rs.48,000

      Prices of gold grew in the Indian market on 14 July following a positive trend in international spot prices. On the Multi-Commodity Exchange (MCX), August gold contracts rose 0.19% at Rs.47,980 for 10 grams. September silver futures also went up 0.01% at Rs.69,086 a kilogram.

      15 July 2021

    • Gold futures were flat near 2-month low on Monday

      In India, gold price struggled today amid weak global cues and was trading flat near 2-month low of Rs.46,970 for every 10 gram on the Multi Commodity Exchange (MCX). In the international market, gold price slipped to one-week low amid a stronger US dollar. The price of spot gold was down 0.2 percent to cost $1,777 per ounce. The precious metal came under pressure today as dollar index rebounded from Friday's lows. It needs to be mentioned here that gold price in the country include 10.75 percent import duty and 3 percent GST.

      28 June 2021

    • Gold futures prices on MCX trade flat in India on 7 June 2021

      Gold futures prices for the month of August traded flat in India on 7 June 2021. Muted trends in the global markets ensured that the prices traded flat. Gold contracts for the month of August on MCX fell by 0.05% and were at Rs.48,971 for 10 grams. On 4 June, gold prices in the global markets saw a positive trend. Gold futures prices for the month of August in the international markets were trading at $1,894.00 for an ounce. Like gold, silver futures prices for the month of July fell by 0.32% and were at Rs.71,308 for a kg.

      8 June 2021

    • Gold rates jump by Rs.357 in Mumbai on 20 May 2021

      Gold prices in Mumbai jumped by Rs.357 on 20 May 2021 and were at Rs.48,534 for 10 grams. The demand for gold ensured that the prices jumped. However, a strong rupee ensured that the gains were capped. The value of the yellow metal increased due to the crash in cryptocurrencies. In the international markets, spot gold prices fell by $0.61 and were at $1,869.01 for an ounce. The ratio for gold to silver is at 67.84 to 1. Gold futures prices for the month of June touched a high of Rs.51,924 and a low of Rs.44,108. Gold futures prices for the month of June fell by Rs.336 and were at Rs.48,338 for 10 grams. Gold futures prices for the month of August fell by Rs.399 and were at Rs.48,800 for 10 grams.

      21 May 2021

    • Price of gold declines marginally in the Indian market

      Gold rates in the country recorded a marginally declining trend on 26 April. The value of 22-karat gold declined by Rs.10 to Rs.44,930 per 10 grams. 24-karat gold prices dipped by Rs.10 as well to Rs.45,930 per 10 grams compared to its previous closing price of Rs.45,940 per 10 grams.

      In Delhi, 24-karat gold was priced at Rs.50,450 per 10 grams while it was priced at Rs.48,820 per 10 grams in Chennai. The precious metal was priced at Rs.49,690 per 10 grams in Kolkata and Rs.45,930 per 10 grams in Mumbai.

      Silver prices also declined from Rs.68,800 per kg to Rs.68,700 per kg in the domestic market on 26 April. silver was priced at Rs.68,700 per kg in Mumbai, Kolkata, and Delhi and was Rs.74,000 per kg in Hyderabad and Chennai.

      In the international market, the value of gold was higher by 0.1% to $1,779.36 per ounce and U.S. gold futures also increased by 0.1% to $1,780.10 per ounce.

      26 April 2021

    • Silver prices dip by Rs.250; gold rates trade at Rs.46,750 per 10 grams

      Gold prices was trading with a negative trend in the domestic market but found support at the lower levels due to the weaker value of the U.S. dollar. The dollar had fallen to its 2-week low which had boosted gold and silver prices.

      Gold futures on the Multi Commodity Exchange had decreased by 0.17% to Rs.46,759 per 10 grams. Silver prices also declined by 0.36% to Rs.67,255 per kg. In the spot market, the price of the yellow metal increased by 182 to Rs.45,975 per 10 grams. Silver prices had increased by more than Rs.700 at Rs.725 to Rs.66,175 per kg.

      In the international market, gold prices were holding steady at$1,755.91 per ounce and U.S gold futures dipped marginally by 0.1% to $1,756.20 per ounce. Silver prices were trading flat at $25.45 per ounce.

      9 April 2021

    • Gold rates fall in India on 22 March 2021

      Due to a weak demand in the global markets, gold rates fell in India on 22 March 2021. So far in 2021, the prices of the yellow metal have fallen by Rs.5,000. Gold futures prices on MCX fell by 0.5% and were at Rs.44,810 for 10 grams. In the international markets, gold rates fell because of a strong dollar. Spot gold prices fell by 0.3% and were at $1,739.78 for an ounce. Gold prices on MCX face resistance at Rs.46,200 and support at Rs.44,680.

      23 March 2021

    • Gold rate flat at Rs.44,519 per 10 grams

      Prices of gold remained steady at Rs.44,519 per 10 gram in Mumbai as consumers did not look to purchase in anticipation of rates falling further with the value of rupee also expected to fall.

      The price of 10 gram 22-carat gold in Mumbai was Rs.40,779, while 24-carat 10 gram was Rs.44,519. Spot gold fell $9.89 to $1,690.03 an ounce in London trading. Price of silver grew Rs.345 to Rs.65,473 per kg.

      9 March 2021

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