Chennai is one of the largest importers of gold in India and observes an active gold trade. Being a port city and having different tax policies, the price of gold is a tad different here as compared to others. Although international and national market trends continue to be a major factor determining gold rates in Chennai, the local economy has a huge role to play. State taxes and octroi add to the change in the billing structure. Nonetheless, buying, selling and storing of gold continue with fervour in Chennai. One of the prime reasons for this bustling gold trade is the cultural significance of this precious metal in this southern city. Today Gold rate in Chennai is ₹ 52,285 per 10 grams for 24 Carat and ₹ 47,927 for 22 Carat.
Gram | 24K Gold Price | Daily Price Change |
---|---|---|
1 gram
|
₹ 5,228.5 | ₹ 0 |
8 grams
|
₹ 41,828 | ₹ 0 |
10 grams
|
₹ 52,285 | ₹ 0 |
100 grams
|
₹ 5,22,850 | ₹ 0 |
Gram | 22K Gold Price | Daily Price Change |
---|---|---|
1 gram
|
₹ 4,792.79 | ₹ 0 |
8 grams
|
₹ 38,342 | ₹ 0 |
10 grams
|
₹ 47,927 | ₹ 0 |
100 grams
|
₹ 4,79,279 | ₹ 0 |
Date | Pure Gold (24K) | Standard Gold (22K) | % Change |
---|---|---|---|
18 May 2022
|
₹ 52,285 | ₹ 47,927 | 0% |
17 May 2022
|
₹ 52,285 | ₹ 47,927 | +0.80% |
16 May 2022
|
₹ 51,870 | ₹ 47,547 | -0.11% |
15 May 2022
|
₹ 51,925 | ₹ 47,597 | 0% |
14 May 2022
|
₹ 51,925 | ₹ 47,597 | -0.27% |
13 May 2022
|
₹ 52,065 | ₹ 47,726 | -1.35% |
12 May 2022
|
₹ 52,780 | ₹ 48,381 | -0.04% |
11 May 2022
|
₹ 52,800 | ₹ 48,400 | -0.19% |
10 May 2022
|
₹ 52,900 | ₹ 48,491 | -0.28% |
09 May 2022
|
₹ 53,050 | ₹ 48,629 | -0.75% |
08 May 2022
|
₹ 53,450 | ₹ 48,995 | 0% |
07 May 2022
|
₹ 53,450 | ₹ 48,995 | +0.72% |
06 May 2022
|
₹ 53,070 | ₹ 48,647 | -0.36% |
05 May 2022
|
₹ 53,260 | ₹ 48,821 | +1.10% |
04 May 2022
|
₹ 52,680 | ₹ 48,290 | 0% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st February rate | ₹ | ₹ 760 |
28th February rate | ₹ | ₹ 692 |
Highest rate in February | ₹ on 1st January 1970 | ₹ 778 on 2nd February 2023 |
Lowest rate in February | ₹ on 1st January 1970 | ₹ on 1st February 2023 |
Over all performance | Falling | Falling |
% change | -8.95% | -8.95% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st January rate | ₹ | ₹ 743 |
31st January rate | ₹ | ₹ 745 |
Highest rate in January | ₹ on 1st January 1970 | ₹ 758 on 16th January 2023 |
Lowest rate in January | ₹ on 1st January 1970 | ₹ on 2nd January 2023 |
Over all performance | Rising | Rising |
% change | +0.27% | +0.27% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st December rate | ₹ | ₹ 698 |
31st December rate | ₹ | ₹ 743 |
Highest rate in December | ₹ on 1st January 1970 | ₹ 747 on 21st December 2022 |
Lowest rate in December | ₹ on 1st January 1970 | ₹ on 9th December 2022 |
Over all performance | Rising | Rising |
% change | +6.45% | +6.45% |
Besides its cultural significance, gold continues to be a strategic element of investment portfolios that generates risk-adjusted returns for the investor, and is thus bought by many.
Keen investors also look at gold Exchange Traded Funds (ETFs) and digital gold as investment options.
Although tangible gold continues to be a major and indispensable part of the culture in Chennai, investment in the form of gold coins and jewellery is expensive because of the additional making charges. Investment in bullion is also non-yielding. Security or safekeeping of the gold is a major challenge too.
Thus, those buyers who are looking to make some profits or don’t want to be bothered by security issues for their investments can choose to invest in electronic and digital forms of gold.
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