Are you looking for the Gold rate in Chennai? You are at right place! Here we offer the best gold rates available in the Chennai city so that you’re getting the best deal possible. Below we have listed the latest gold rates in Chennai for different carats.
24K, 22K, 18K Gold Rate today in Chennai
24K gold rate today in Chennai per gram
|1 Gram||8 Gram||10 Gram|
|Rs. 6,158||Rs. 49,264||Rs. 61,580|
22K gold rate today in Chennai (916 KDM)
|1 Gram||8 Gram||10 Gram|
|Rs. 5,645||Rs. 45,160||Rs. 56,450|
18K gold rate today in Chennai
|1 Gram||8 Gram||10 Gram|
|Rs. 4,626||Rs. 37,008||Rs. 46,260|
Where to buy Gold in Chennai
In Chennai, there are several places where you can buy gold. Here are some popular options:
T. Nagar: T. Nagar is a well-known shopping district in Chennai and is famous for its gold jewelry stores. It houses a wide range of jewelry shops, including renowned brands and local retailers. You can find a variety of gold jewelry designs and styles in different price ranges.
Mylapore: Mylapore is a cultural and commercial hub in Chennai and is home to many traditional gold jewelry shops. The area has a rich heritage and is known for its handcrafted gold jewelry, especially temple jewelry and antique designs.
Panagal Park: Located in T. Nagar, Panagal Park is a popular shopping area with a concentration of jewelry stores. It offers a wide range of gold jewelry options, from traditional to contemporary designs.
Popular Jewelry Store : Chennai has various jewelry store chains that offer gold jewelry. Some popular ones include GRT Jewellers, Prince Jewellery, Joyalukkas, Lalithaa Jewellery, and Khazana Jewellery. These chains have multiple branches across the city and provide a wide selection of gold jewelry.
When buying gold in Chennai, it’s important to check the current gold rates and compare prices at different stores or platforms.
Gold price in other cities
How is the Purity of Gold is checked in Chennai?
In Chennai, the purity of gold is checked using a standardized system known as the “karat/carat” system. The karat system is widely used globally to measure the purity of gold.
The purity of gold is expressed in terms of “karats” or “carats,” which represents the proportion of pure gold present in a particular piece of gold jewelry.
In Chennai, common gold purity levels available in the market include:
24 Karat Gold (24K): 24K gold is considered pure gold as it contains 24 parts of pure gold, making it 99.9% pure. However, it is generally not used for making jewelry due to its softness.
22 Karat Gold (22K): This type of gold contains 22 parts of pure gold and 2 parts of other metals, making it 91.6% pure. It is the most popular choice for gold jewelry in India, known for its rich golden color and durability.
18 Karat Gold (18K): 18K gold consists of 18 parts of pure gold and 6 parts of other metals, making it 75% pure. It is commonly used for jewelry pieces that require a balance between durability and purity.
When purchasing gold jewelry in Chennai, it is essential to look for hallmarking. The Bureau of Indian Standards (BIS) provides hallmarking to certify the purity of gold jewelry. The hallmark consists of a BIS logo, purity in karats, the jeweler’s identification mark, and a unique identification number.
By checking the hallmark, you can ensure that the gold jewelry you’re buying meets the defined standards of purity and authenticity.
What Affects the Gold price in Chennai?
Several factors can influence the price of gold, Including economic conditions, currency values, and geopolitical events and so on.
Seasonal and Cultural Factors: Cultural events, festivals, and wedding seasons in different regions, particularly in countries with strong gold-buying traditions, can lead to increased demand for gold jewelry and potentially impact prices.
Investor Sentiment and Speculation: Market sentiment and speculative trading can impact short-term fluctuations in gold prices. Investor sentiment, influenced by factors such as economic news, political developments, and market expectations, can drive buying or selling activity in the gold market.
US Dollar Strength: The US dollar and gold often have an inverse relationship. Since gold is globally traded in US dollars, a stronger US dollar can make gold relatively more expensive.
FAQs on Chennai Gold Rate
What is the price of Gold in Chennai today?
The 1 gram 24 carat gold price today in Chennai is Rs 61,58.
What is the 916 KDM gold rates today in Chennai?
916 KDM gold is 22k gold and the price of 10 gram is Rs 56,450.
What is 18 carat gold rate today in Chennai?
The 18k gold rate today in Chennai is Rs 46,260/10gram.
What is 24 carat gold rate in Chennai today?
24k gold price today in Chennai is Rs 61,580/10gram.
Disclaimer: The gold rates are sourced from local jewelers in the city. There may be variance in rates and prices. Investandearn.net has made every effort to ensure accuracy of information provided; however, Invest and Earn do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Here we do not accept culpability for losses and/or damages arising based on gold information provided.
Nirmal is a NISM Certified Derivative Trader & the Founder of InvestandEarn.net (Financial Blog). He entered the world of Equity research to explore his interests in financial markets having 5+ Years of Experience in Share Market Trading & Investing. Nirmal frequently writes about Share Market Trading & Investment and publishes his personal view on the market. Drop him a mail at firstname.lastname@example.org.