Chennai Gold Price Today: Good News For Gold Buyers! Big Fall In 18, 22, 24 Karat Gold, Silver Follows Trend
Chennai Gold Price Today:Gold price today in Chennai witnessed a sharp fall after gold rates in India nosedived to a record low mark on Friday. Amid geopolitical uncertainty and stock market volatility triggered by United States President Donald Trump’s tariffs announcement, the decline in gold rates today has come as a favourable opportunity for gold buyers.
Gold prices in Chennai increased significantly in March in synchronisation with the rising gold rates in India. The consistent surge in gold prices emerged as a major setback for people planning to buy gold jewellery ahead of the upcoming wedding season.
Chennai Gold Price Today:Gold Price Today in Chennai
Gold rates in Chennai today declined significantly. The price of 10 gram of 22 Karat gold declined from nearly Rs 1600 to Rs 84000. 10 gram of 24 Karat gold was sold Rs 1740 lower at Rs 91640. Additionally, 10 gram of 18 karat gold, also known as 999 gold was sold at a price of Rs 69,200 today.
Chennai Gold Price Today:Silver Price Today in Chennai
The price of silver in Chennai declined nearly Rs 4000 to Rs 1,08,000 per kilogram. The precious metal is being sold at a rate of Rs 108 per gram in Chennai today. Demand for silver increases amid higher gold rates, apparently due to shift in buyers’ interest towards Silver. The white metal is seen as a cheaper alternative for ornaments and jewellery for buyers.
Chennai Gold Price Today:Gold Rate in India Today
Gold rate in India today declined significantly as 24 karat gold was sold at a price of Rs 9,164 per gram, whereas 22 karat gold was sold at a price of Rs 8400per gram. Another variant of the yellow metal, ie 18 karat gold (also known as 999 gold), was sold at a pice of Rs 6873 per gram.
Gold prices in Indian cities, including Chennai, change daily based on the international gold prices, hence people who are planning to buy gold jewellery must consider checking latest gold rates in India to make an informed decision.
The recent decline in gold prices is followed by announcement by United States President on tariffs. Donald Trump imposed nearly 27% tariffs on all exports from India, except pharma sector. The move is likely to cause trade disruptions and the uncertainty has weakened market sentiment across global markets.
“”It’s a big setback for India as the US has announced retaliatory tariffs. While in the broader sense, it will be 26%. The Gems and Jewelry sector will be the most affected as import tariffs may be up to 20% from the current 0% on loose diamonds and 5.5-7% on gold jewelry. The US is one of India’s largest jewelry export markets, accounting for almost 30% of the share. Indian jewelry exports to the US are over $11 billion per year,” said Colin Shah, MD, Kama Jewelry.
Chennai Gold Price Today:International Gold Price Today
According to Trading Economics, gold price surged and remained above $3,110 per ounce on Friday. The precious metal witnessed a fifth consecutive weekly gain after breaking the all-time high mark of $3,000 per ounce. Price of gold fell on Thursday due to profit-taking and reports that Donald Trump will exclude precious metals from tariffs.
