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 April rate | ₹ 48,986 | ₹ 53,440 |
30th April rate | ₹ 49,060 | ₹ 53,520 |
Highest rate in April | ₹ 50,710 on 18th April 2022 | ₹ 55,320 on 18th April 2022 |
Lowest rate in April | ₹ 48,473 on 28th April 2022 | ₹ 52,880 on 28th April 2022 |
Over all performance | Rising | Rising |
% change | +0.15% | +0.15% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1st March rate | ₹ 48,005 | ₹ 52,370 |
31st March rate | ₹ 48,794 | ₹ 53,230 |
Highest rate in March | ₹ 51,470 on 9th March 2022 | ₹ 56,150 on 9th March 2022 |
Lowest rate in March | ₹ 48,005 on 1st March 2022 | ₹ 52,370 on 1st March 2022 |
Over all performance | Rising | Rising |
% change | +1.64% | +1.64% |
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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