Chennai Gold Market Sees Steady Demand As Prices Jump; Check Here

Over the years, gold has maintained its reputation as a reliable hedge against inflation, gaining prominence as a safe-haven asset amid economic uncertainties

With steady demand and a strong historical track record, gold continues to hold a vital place in investment portfolios across the country

Source : PTI

The price of gold in India today stands at Rs 9,933 per gram for 24-karat, Rs 9,105 for 22-karat, and Rs 7,450 for 18-karat gold. These rates are consistent in Chennai as well, reflecting broader national price stability. Over the years, gold has maintained its reputation as a reliable hedge against inflation, gaining prominence as a safe-haven asset amid economic uncertainties. With steady demand and a strong historical track record, gold continues to hold a vital place in investment portfolios across the country.

Gold Prices In Chennai

Gold prices in Chennai on July 3 remained steady, with 22-karat gold priced at Rs 9,105 per gram and 24-karat (999) gold at Rs 9,933 per gram. The same rates were observed in major metros including Bengaluru, Mumbai, Pune, Kolkata, and Hyderabad, indicating a broad uniformity in pricing across southern and western cities. Meanwhile, Ahmedabad and Indore recorded a marginally higher rate of Rs 9,110 for 22K and Rs 9,938 for 24K gold. Lucknow topped the chart among major cities, with 22-karat gold at Rs 9,120 and 24-karat at Rs 9,948 per gram. These slight regional variations are typically influenced by local demand, taxes, and logistical factors.

Gold Consumption In India

India remains the world’s second-largest consumer of gold after China, with most of its demand met through imports and a smaller share sourced from recycled metal. Since gold is priced globally in US dollars, any shifts in the dollar’s value have a direct effect on domestic prices. Within India, gold rates are also influenced by factors such as import duties, the Goods and Services Tax (GST), and local levies.

Currently, prices for both 22-karat and 24-karat gold in India are on an upward trajectory, further cementing gold’s status as a trusted store of value. Amid ongoing economic uncertainty and volatile markets, gold continues to attract investors looking for a safe and stable asset.