Chennai Gold Price: Yellow Metal Touches Record High Of Rs 55,050, Rises By Rs 90 Per Gram

On the other hand, one gram of 24 carat gold was priced at Rs 6,005 which saw an increase by Rs 98. 

Chennai: The capital of Tamil Nadu, Chennai, witnessed a record price of gold by selling at Rs 5,505 a gram a day after Budget 2023 on Friday. 

The price of 1 gram of 22 carat gold was Rs 5,505 as against Rs 5,415 on Wednesday. The price of the yellow metal changed by Rs 90 per gram in a day. As a result, eight grams of 22 carat gold stood at Rs 44,040. The one sovereign of gold (eight grams of 22 carat) a term widely used in the market increased by Rs 720 in a day.

The price of eight grams of 22 carat gold was Rs 51,300 on January 1. 

On the other hand, one gram of 24 carat gold was priced at Rs 6,005 which saw an increase by Rs 98. 

The prices of gold are excluding GST, TCS and other additional charges.

The last time the price of gold was at its peak was during the pandemic on August 7, 2020. During the time, eight gram of 24 carat gold was priced at Rs 43,360. 

Gold rates in Delhi

Gold price rallied Rs 770 to a record high of Rs 58,680 per 10 grams in the national capital on Thursday amid a jump in precious metal prices internationally, according to HDFC Securities.

In the previous trade, the yellow metal had settled at Rs 57,910 per 10 grams.

Silver also zoomed Rs 1,491 to Rs 71,666 per kilogram.

"Spot gold prices in the Delhi markets traded at a record high of Rs 58,680 per 10 grams, up Rs 770 per 10 grams," said an analyst at HDFC Securities.

In the overseas market, both gold and silver were traded in green at USD 1,956 per ounce and USD 24.15 per ounce, respectively.

Comex gold prices traded their highest levels in more than nine months in Asian trading hours on Thursday after investors access dovish policy from US Federal reserve, the analyst said.

(With PTI Inputs)