Gold is a hugely important commodity in Chennai/Madras, the capital of South-Indian state Tamil Nadu. Today 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.
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Today’s Gold Price in Chennai
In keeping with the rest of the country, the people of Chennai purchase gold mainly in the form of jewellery. Needless to say, there are a number of jewelry establishments spread in and around the city to meet this demand. Gold rate today 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. CChennai (Madras) 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.
Historical Gold Price in Chennai
Months
Lowest Price 24 Karat Gold – ₹ Per 10 Grams
Highest Price 24 Karat Gold – ₹ Per 10 Grams
September 2022
51,210
53,870
August 2022
51,200
53,800
July 2022
51,230
53,730
June 2022
51,030
53,830
May 2022
51,670
53,480
April 2022
48,030
52,400
March 2022
52,160
55,320
February 2022
49,240
54,010
January 2022
47,530
48,690
December 2021
46,970
48,260
November 2021
46,690
48,880
October 2021
47,240
48,970
September 2021
45,570
47,210
August 2021
45,920
49,610
July 2021
46,650
49,550
June 2021
46,100
50,790
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
September 2022 Gold Rate in Chennai
Parameter
Gold price (24 karat)
September 1 Rate
Rs.4,946 per gram
September 26 Rate
Rs.4,884 per gram
Highest Rate in September
Rs.4,925 per gram on 23 September
Lowest Rate in September
Rs.4,851 per gram on 21 September
Overall Performance
Incline
August 2022 Gold Rate in Chennai
Parameter
Gold price (24 karat)
August 1 Rate
Rs.5,035 per gram
August 31 Rate
Rs.5,056 per gram
Highest Rate in August
Rs.5,120 per gram on 16 August
Lowest Rate in August
Rs.5,056 per gram on 22 August
Overall Performance
Incline
July 2022 Gold Rate in Chennai
Parameter
Gold price (24 karat)
July 1 Rate
Rs.5,025 per gram
July 31 Rate
Rs.5,056 per gram
Highest Rate in July
Rs.5056 per gram on 30th July and 31st July
Lowest Rate in July
Rs.4,858 per gram on 16th July and 17th July
Overall Performance
Incline
June 2022 Gold Rate in Chennai
Parameters
Gold price (24 karat)
June 1 Rate
Rs.4,977 per gram
June 30 Rate
Rs.4,917 per gram
Highest Rate in June
Rs.5,077 per gram on 13 June
Lowest Rate in June
Rs.4,917 per gram on 30th June
Overall Performance
Decline
May 2022 Gold Rate in Chennai
Parameters
Gold price (24 karat)
May 1 Rate
Rs.5,148 per gram
May 31 Rate
Rs.5,014 per gram
Highest Rate in May
Rs.5,148 per gram on 1 May
Lowest Rate in May
Rs.4,964 per gram on 18 May
Overall Performance
Decline
April 2022 Gold Rate in Chennai
Parameters
Gold price (24 karat)
April 1 Rate
Rs.5,076 per gram
April 30 Rate
Rs.5,148 per gram
Highest Rate in April
Rs.5,299 per gram on 18th April
Lowest Rate in April
Rs.5,043 per gram on 4 April
Overall Performance
Incline
Trend of Gold Rate in Chennai for March 2022 (rates per gram of 24 karat gold)
Parameters
Gold price (24 karat)
March 1 Rate
Rs.5,027 per gram
March 31 Rate
Rs.5,033 per gram
Highest Rate in March
Rs.5,360 per gram on 9 March
Lowest Rate in March
Rs.5,027 per gram on 1 March
Overall Performance
Incline
Trend of Gold Rate in Chennai for February 2022 (rates per gram of 24 karat gold)
Parameters
Gold price (24 karat)
February 1 Rate
Rs.4,742 per gram
February 28 Rate
Rs.5,054 per gram
Highest Rate in February
Rs.5,068 per gram on 24 February
Lowest Rate in February
Rs.4,740 per gram on 2 February
Overall Performance
Incline
Trend of Gold Rate in Chennai for January 2022 (rates per gram of 24 karat gold)
Parameters
Gold price (24 karat)
January 1 Rate
Rs.4,787 per gram
January 31 Rate
Rs.4,753 per gram
Highest Rate in January
Rs.4,869 per gram on 26 January
Lowest Rate in January
Rs.4,696 per gram on 10 January
Overall Performance
Decline
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 karats 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.
Places to Buy Gold in Chennai
There are various certified stores in Chennai from where gold can be purchased. However, some of the popular gold jewellers in Chennai are NAC Jewellers, Lalitha Jewellery, Bapalal & Co. Jewellery, Saravana Stores Thanga Nagai Maligai, Nathella Sampathu Chetty Jewellery, Prince Jewellery, G R Thanga Maligai, Mehta Jewellery, Vummidi Bangaru Srihari Sons, and so on.
Gold as an investment in Chennai
The following are the different types of investment options for gold:
- Bullion: Buyers of bullions typically purchase them in the shape of bars. The amount of precious metals included in bullion, which is determined by its purity and mass, determines its market worth.
- Jewellery: People choose to purchase gold jewellery since Chennai is known for its collections of bridal jewellery.
- Coins: As part of their investment, investors purchase gold coins. In Chennai, gold coins come in a variety of weights, as well as karats.
Also Check Gold Price in Metro Cities
FAQs on Gold Price in Chennai
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Where to buy Gold in Chennai?
In Chennai, gold can be bought from reputed jewellers like Tanishq, GRT, Kirtilal Kalidas, Damini, Prince Jewellery, Mehta Jewellery, Khazana Jewellery etc.
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How to Invest in Gold in Chennai?
Gold investments in Chennai can be made in various ways such as jewellery, gold schemes, solid gold, gold ETFs (Exchange Traded Funds), gold FOFs (Funds of Funds), etc.
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What is the gold price trend in Chennai today?
In Chennai, a steady trend is being observed for the gold rates from the beginning of 2022. The demand for this precious metal is increasing with most of the demand arising for gold jewellery.
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What are the Factors affecting Gold Prices in Chennai?
In Chennai, gold prices are affected by various factors like inflation, demand and supply, interest rates, currency fluctuations, the Indian jewellery market, etc.
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What should be kept in mind while buying Gold in Chennai?
When buying gold, you should check its purity, weight, certification, labour charges, cost per gram, etc.
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How are Chennai’s gold prices determined?
The price of gold is determined based on various factors such as demand, supply, gold reserves, interest rates, inflation, and festive season.
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What is the future gold rate forecast in Chennai?
The future gold rate in Chennai depends on factors like demand, supply, inflation, and others.
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What are the different karats of gold sold across Chennai?
There are different karats of gold sold across Chennai which range from 24 karat, 22 karat, 18 karat, 14 karat, and 10 karat.
Check Gold Price in NearBy Cities of Chennai
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