Overview: Gold Price in Chennai Today
Gold price in Chennai today showed a notable turn after a stretch of climbing to fresh highs. Jewellery gold in the city is at Rs 87,040 per tola, down Rs 560 from yesterday. The corresponding rate for gold per gram stands at Rs 10,880, down Rs 70. Silver prices also moved, with silver at Rs 163 per gram, up Rs 2, and roughly Rs 1,63,000 per kilogram.
Recent Trend: From Record Highs to a Dip
Earlier in the current run, gold touched record highs beyond Rs 85,000 per tola on the 23rd day of this cycle. After a brief correction around the 27th day, prices resumed their upward momentum, posting new highs for three consecutive days. Yesterday, gold surged again, with an increase of Rs 240 per tola in the morning and Rs 480 later in the day, reaching a peak around Rs 87,600 per tola (approximately Rs 10,950 per gram).
Yesterday and Today’s Numbers
Today’s update shows a reversal from that peak. In Chennai, the tola price has fallen to Rs 87,040, down Rs 560 from yesterday’s level. A gram price of Rs 10,880 marks a decline of Rs 70. The lighter morning selling aligns with a broader move seen in many markets, where volatility has impacted both buyers and jewelry retailers.
Silver Price Movement
Silver has also shown movement alongside gold. The price in Chennai rose by Rs 2 per gram to Rs 163. While the per-gram rise is modest, the silver market often mirrors shifts in precious metals sentiment and can influence buying decisions for mixed-metal ornaments.
What This Means for Buyers and Jewelers
The current dip follows a period of sustained gains, underscoring the volatility that typically characterizes the gold market. For buyers, the fall in jewelry gold per tola and per gram could present a window to purchase if the intent is to lock in a lower baseline. For sellers and jewelers, such fluctuations require careful price quoting and transparent making charges, as customers may be price-sensitive during a downturn.
Implications for Wedding and Gift Buyers
With Tamil Nadu and Chennai hosting a vibrant wedding season, shoppers often time purchases around price movements. While today’s dip provides some relief, buyers should stay alert to intraday fluctuations. It is wise to compare quotes from several reputed stores and check the prevailing rate before committing to a purchase. Remember that local making charges and design choices will also affect final costs.
Tips for Buying Gold Jewellery
- Compare rates across trusted jewelers in Chennai to get the best price per tola and per gram.
- Understand the making charges and wastage charges in addition to the base price.
- Keep an eye on global bullion trends and currency movements that can influence local prices.
- Consider purchasing during minor dips if your primary goal is investment as well as ornamentation.
- Check the purity level and required hallmarks for 22k and 24k options before buying.
Conclusion
Today’s price movement in Chennai illustrates the ongoing volatility in the gold market. While jewellery gold per tola and per gram have dipped from recent highs, the market remains sensitive to global cues and local demand. For anyone planning a purchase, the key is timely information and comparing quotes across reputable outlets to maximize value while aligning with personal needs and occasions.
