Chennai Gold Rate Today
Gold rates in Chennai fluctuate daily due to global market trends, local demand, and government policies. Investors, jewellery buyers, and traders closely monitor these prices to make informed decisions. Below is the detailed breakdown of current rates and key factors affecting them.
Current Gold Rates in Chennai
As of today, the 22K gold rate in Chennai stands at ₹5,720 per gram, while 24K gold is priced at ₹6,240 per gram. These rates include GST and reflect the latest updates from certified jewellery shops and banks across the city. Rates may vary slightly between retailers due to purity checks and making charges.
Gold Rate Chart (Last 7 Days)
| Date | 22K Rate (₹/g) | 24K Rate (₹/g) |
|---|---|---|
| 05-Oct-2023 | 5,700 | 6,220 |
| 04-Oct-2023 | 5,690 | 6,200 |
| 03-Oct-2023 | 5,680 | 6,180 |
| 02-Oct-2023 | 5,700 | 6,220 |
| 01-Oct-2023 | 5,730 | 6,250 |
| 30-Sep-2023 | 5,750 | 6,270 |
| 29-Sep-2023 | 5,720 | 6,240 |
Factors Influencing Chennai Gold Prices
Global Gold Market: International gold prices, mainly determined by demand in countries like the US and India, impact Chennai rates. Bullion prices are quoted in USD per ounce.
Currency Exchange Rate: A weaker Indian Rupee against the USD makes imported gold more expensive, raising local prices.
GST and Taxes: The 3% GST on gold jewellery and making charges (8-15%) add to the final price buyers pay.
Seasonal Demand: Festivals like Diwali and weddings increase demand, often leading to temporary price hikes.
Local Supply Chain: Availability of raw material from ports and mints affects retail availability and pricing.
Where to Buy Gold in Chennai
Authorized Jewelley Stores: Shops like Tanishq, Kalyan Jewellers, and GRT Gold offer certified gold with hallmark guarantees.
Banks and NBFCs: Indian Bank, HDFC, and Axis Bank provide gold loan services and sell sovereign gold bonds.
Online Platforms: Websites such as Amazon Gold, Flipkart, and MFG Gold deliver purity-certified gold across Chennai.
Tips for Buying Gold in Chennai
- Check Hallmark: Ensure jewellery has BIS hallmark for 22K or 24K purity.
- Compare Making Charges: Prices vary between 8% to 15% depending on design complexity.
- Tax Considerations: Keep invoices for future sales or insurance claims.
- Track Daily Rates: Use trusted news portals or apps for real-time updates.
Why Monitor Chennai Gold Rates?
Chennai, a key jewellery market in South India, sees high demand during festivals and weddings. Tracking rates helps buyers secure optimal value and assists investors in timing purchases during dips. With volatile global markets, staying informed ensures better financial decisions.
