(Source: ABPLIVE पत्रकारों का Exit Poll)
Gold Price Today In Chennai: Yellow Metal Sees Modest Rise Amid Currency Fluctuations
Despite the growing push for recycling and the emergence of organised collection systems, recycled gold remains a small contributor to the overall supply.
Gold prices in Chennai climbed marginally on Friday, reflecting the broader movement seen across Indian markets. The rates for 24-karat gold (999 purity) stood at Rs 12,328 per gram, while 22-karat gold was priced at Rs 11,300 per gram. India, the world’s second-largest gold consumer after China, continues to rely heavily on imports to meet its vast demand for the precious metal. Despite the growing push for recycling and the emergence of organised collection systems, recycled gold remains a small contributor to the overall supply.
As gold is traded globally in US dollars, the Indian rupee’s exchange rate plays a vital role in determining local gold prices. A weaker rupee increases the cost of imports, leading to higher prices for consumers, while a stronger rupee provides some cushion by reducing import expenses.
Global Market Trends Shape Local Sentiment
On the international front, gold prices are influenced by a range of economic factors, including changes in bond yields, central bank policies, and shifts in investor confidence. The yellow metal remains a preferred safe-haven asset during periods of inflation, economic instability, or geopolitical uncertainty. Investors often turn to gold as a hedge against volatility, making it a long-standing symbol of security and wealth preservation.
Globally, spot gold prices inched up on Friday amid softer bond yields and cautious sentiment ahead of major economic announcements. Analysts noted that expectations of potential rate cuts by central banks, coupled with subdued inflation data, contributed to the modest uptrend.
Across India, other key cities also witnessed similar movements in gold rates. Delhi recorded prices of Rs 12,283 per gram for 24-karat gold and Rs 11,260 per gram for 22-karat. In Mumbai, Bengaluru, and Pune, 24-karat gold stood at Rs 12,268 per gram and 22-karat gold at Rs 11,245 per gram.
At a time of economic uncertainty and fluctuating markets, gold continues to hold its allure for Indian investors. Its enduring appeal lies not only in its cultural significance but also in its reputation as a reliable store of value for long-term wealth protection.
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