Last updated on: 29th Sep 2023
Being the capital city of Tamil Nadu, the yellow metal ‘Gold’ holds huge importance in the life of the people of Chennai. It is an integral part of festivals, weddings and religious ceremonies. The city is a beautiful combination of beaches, culture, cuisine and a flourishing business sector where gold is the symbol of wealth and prosperity and owning gold is a sign of success and also safe from an investment perspective. Gold is also a fashion statement and Chennai is known for its beautiful gold design.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹4,316.25 -40.50 (0.94%) | ₹4,311.00 -5.25 (0.12%) |
8 grams | ₹34,530.00 -324 (0.94%) | ₹34,488.00 -42 (0.12%) |
10 grams | ₹43,162.50 -405 (0.94%) | ₹43,110.00 -52.50 (0.12%) |
100 grams | ₹4,31,625.00 -4050 (0.94%) | ₹4,31,100.00 -525 (0.12%) |
The gold price in Chennai keeps on changing due to various local and global factors. Any change in the global gold market affects the price of gold in Chennai such as changes in demand, economic conditions, geopolitical events, or currency movements.
The exchange rate between the Indian Rupee (INR) and other major currencies, particularly the US Dollar (USD), has a direct influence on the gold price in Chennai. Local demand and supply also play an important factor such as festivities, cultural traditions, wedding season, etc. Government policies and taxes, such as import duty, customs etc also affect the price of gold in Chennai. Most of the jewellers in Chennai are part of the Madras Jeweller and the diamond association where the gold price is set twice a day, before buying the customer can check the price and negotiate accordingly. These are a few reasons why gold prices keep changing in Chennai.
The gold rate in Chennai is determined by various factors. The rate of customs duty on gold imports, currently at 18.45%, affects the gold rate. Currency fluctuations, especially the exchange rate between the Indian Rupee and the U.S. Dollar impact gold prices as gold is traded in USD globally. The gold reserves held by the Reserve Bank of India play a role in determining gold prices, as increased buying by the central bank reduces the supply of gold in the domestic market. Geopolitical factors and uncertainties can increase the demand for gold during times of financial or geopolitical instability. Additionally, Crude oil prices are another factor, as gold and crude oil prices tend to have a positive correlation.
Day | 18K Gold |
---|---|
29 Sep 2023 | ₹43,110.00 -52.50 (0.07%) |
28 Sep 2023 | ₹43,162.50 -405 (0.53%) |
27 Sep 2023 | ₹43,567.50 -510 (0.66%) |
26 Sep 2023 | ₹44,077.50 -262.50 (0.33%) |
25 Sep 2023 | ₹44,340.00 -97.50 (0.12%) |
22 Sep 2023 | ₹44,437.50 +97.50 (0.12%) |
21 Sep 2023 | ₹44,340.00 -472.50 (0.60%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +187.50 (0.24%) |
Day | 18K Gold |
---|---|
29 Sep 2023 | ₹43,110.00 -52.50 (0.07%) |
28 Sep 2023 | ₹43,162.50 -405 (0.53%) |
27 Sep 2023 | ₹43,567.50 -510 (0.66%) |
26 Sep 2023 | ₹44,077.50 -262.50 (0.33%) |
25 Sep 2023 | ₹44,340.00 -97.50 (0.12%) |
22 Sep 2023 | ₹44,437.50 +97.50 (0.12%) |
21 Sep 2023 | ₹44,340.00 -472.50 (0.60%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +187.50 (0.24%) |
Day | 18K Gold |
---|---|
29 Sep 2023 | ₹43,110.00 -52.50 (0.07%) |
28 Sep 2023 | ₹43,162.50 -405 (0.53%) |
27 Sep 2023 | ₹43,567.50 -510 (0.66%) |
26 Sep 2023 | ₹44,077.50 -262.50 (0.33%) |
25 Sep 2023 | ₹44,340.00 -97.50 (0.12%) |
22 Sep 2023 | ₹44,437.50 +97.50 (0.12%) |
21 Sep 2023 | ₹44,340.00 -472.50 (0.60%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +187.50 (0.24%) |
Day | 18K Gold |
---|---|
29 Sep 2023 | ₹43,110.00 -52.50 (0.07%) |
28 Sep 2023 | ₹43,162.50 -405 (0.53%) |
27 Sep 2023 | ₹43,567.50 -510 (0.66%) |
26 Sep 2023 | ₹44,077.50 -262.50 (0.33%) |
25 Sep 2023 | ₹44,340.00 -97.50 (0.12%) |
22 Sep 2023 | ₹44,437.50 +97.50 (0.12%) |
21 Sep 2023 | ₹44,340.00 -472.50 (0.60%) |
20 Sep 2023 | ₹44,812.50 +142.50 (0.18%) |
19 Sep 2023 | ₹44,670.00 -7.50 (0.01%) |
18 Sep 2023 | ₹44,677.50 +187.50 (0.24%) |
Gold in India is subject to taxation either on purchase or on sale.
There are two main taxes related to gold:
Yes, 24 Karat is gold in its purest form. But it is too soft for use. Hence, metals like zinc are added to strengthen it. The gold thus created is the 22 Karat variant. While 24 Karat is 99.9% pure, 22 Karat typically consists of around 91% pure gold. As a result, 24 Karat gold costs more than 22 Karat gold.
Location
₹43,110 / 10gm
Last updated on: 29th Sep 2023
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