Today’s Gold Rate/Price in Chennai – (04 Oct 2022)

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.

*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.

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

Lowest Price 24 Karat Gold – ₹ Per 10 Grams
Highest Price 24 Karat Gold – ₹ Per 10 Grams

September 2022

August 2022

July 2022

June 2022

May 2022

April 2022

March 2022

February 2022

January 2022

December 2021

November 2021

October 2021

September 2021

August 2021

July 2021

June 2021

May 2021

April 2021

March 2021

February 2021

January 2021

September 2022 Gold Rate in Chennai

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

August 2022 Gold Rate in Chennai

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

July 2022 Gold Rate in Chennai

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

June 2022 Gold Rate in Chennai

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

May 2022 Gold Rate in Chennai

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

April 2022 Gold Rate in Chennai

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

Trend of Gold Rate in Chennai for March 2022 (rates per gram of 24 karat gold)

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

Trend of Gold Rate in Chennai for February 2022 (rates per gram of 24 karat gold)

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

Trend of Gold Rate in Chennai for January 2022 (rates per gram of 24 karat gold)

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

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

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. What is the future gold rate forecast in Chennai?

    The future gold rate in Chennai depends on factors like demand, supply, inflation, and others.

  8. 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

Read More on Gold

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