SEARCH

    Saved articles

    You have not yet added any article to your bookmarks!

    Browse articles
    Select News Languages

    GDPR Compliance

    We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policies, and Terms of Service.

    Gold Price Today In Chennai: Rates Ease After Global Pressure

    2 weeks ago

    Gold prices edged lower on Friday as global cues and currency fluctuations weighed on sentiment, influencing markets across India, including Chennai. The yellow metal, which holds immense cultural and financial value, saw a modest correction despite its safe-haven appeal during economic volatility.

    In Chennai, 22-karat gold is currently priced at Rs 9,215 per gram, while 24-karat gold stands at Rs 10,053 per gram. The price movement reflects a broader trend seen across major cities such as Delhi, Mumbai, and Bengaluru, where rates also softened slightly.

    Why Gold Prices Are Falling Today

    The recent decline comes amid persistent strength in the US dollar and rising Treasury yields, which generally limit the appeal of gold as an investment. Because gold is globally denominated in dollars, a stronger greenback makes it more expensive for buyers in other currencies, leading to lower demand and softer prices.

    For India—the second-largest gold consumer after China—exchange rate dynamics play a critical role in determining domestic prices. Along with currency fluctuations, factors such as import duties, GST, and local taxes also influence retail prices in cities like Chennai. Since India meets most of its gold demand through imports, any shift in global conditions quickly translates to local price adjustments.

    Cultural Demand vs. Market Volatility

    Despite the recent dip, gold continues to hold its ground as a preferred asset for wealth preservation and cultural celebrations. In Chennai, where weddings and festivals drive a significant portion of jewellery purchases, lower prices could stimulate demand ahead of the festive season.

    Here’s how other cities are faring:

    Delhi: Rs 9,230 (22K), Rs 10,068 (24K)

    Mumbai: Rs 9,215 (22K), Rs 10,053 (24K)

    Ahmedabad: Rs 9,220 (22K), Rs 10,058 (24K)

    Lucknow: Rs 9,230 (22K), Rs 10,068 (24K)

    Investors and jewellers alike are watching international developments closely, especially with ongoing talks of central bank policy moves and global trade uncertainties. Any shift in US monetary policy or energy prices could further impact bullion demand and pricing trends in the weeks ahead.

    Click here to Read more
    Prev Article
    Gold Price In Lucknow Dip On August 22, Beat Major Markets Across India
    Next Article
    Gold Prices Dip In Kolkata: Festive Demand And Global Uncertainty Clash

    Related Business Updates:

    Comments (0)

      Leave a Comment