Gold Rates Rise On Weak Dollar; Chennai Tracks Uptrend On July 4; Check Here

Chennai, in line with the national trend, also saw gold rates firming up. With local demand remaining steady and the international outlook favoring bullion, gold continues to hold its appeal

Gold prices in Chennai continue to reflect strong demand

Source : PTI

Gold prices edged higher in the domestic futures market on Friday (July 4), supported by a weaker US dollar following the House of Representatives’ approval of former President Donald Trump’s tax cut bill. On the Multi Commodity Exchange (MCX), the August 5 gold contract was trading 0.16 per cent higher at Rs 96,935 per 10 grams.

The dollar index slipped by 0.20 per cent, boosting global gold prices and lifting sentiment in domestic markets. Chennai, in line with the national trend, also saw gold rates firming up. With local demand remaining steady and the international outlook favoring bullion, gold continues to hold its appeal in Chennai as a reliable investment amid ongoing economic uncertainty.

Gold Price In Chennai Today

Gold prices in Chennai continue to reflect strong demand, with the current rate standing at Rs 9,050 per gram for 22-karat gold and Rs 9,873 per gram for 24-karat gold (999 purity). These rates align closely with those in several other major cities, where gold prices have also remained firm.

In Bengaluru, Mumbai, Pune, Kolkata, and Hyderabad, gold is priced at Rs 9,050 per gram for 22-karat and Rs 9,873 per gram for 24-karat. Ahmedabad and Indore see slightly higher rates, with 22-karat gold at Rs 9,055 and 24-karat at Rs 9,878. Meanwhile, Delhi and Lucknow are witnessing the highest prices among the cities listed, with 22-karat gold at Rs 9,065 and 24-karat at Rs 9,888 per gram.

Gold prices across India have maintained their upward momentum, bolstered by ongoing economic uncertainty and investor preference for safe-haven assets. In Chennai, as in other cities, gold remains a trusted store of value, drawing consistent interest from both buyers and investors.

Gold Consumption In India

India continues to be the world’s second-largest gold consumer after China, with the bulk of its demand fulfilled through imports and a smaller portion derived from recycled gold. Because gold is priced internationally in US dollars, fluctuations in the dollar’s value directly impact domestic prices. Additionally, Indian gold rates are shaped by import duties, the Goods and Services Tax (GST), and other local levies.

Currently, prices for both 22-karat and 24-karat gold are trending upward, reinforcing gold’s reputation as a reliable store of value. In the face of economic uncertainty and market volatility, gold remains a preferred investment for those seeking safety and stability.