Gold rate in Chennai
gold rate in chennai

24K Gold/ 10gm
57,490.00
0.00(0.00%)
22K Gold/ 10gm
54,750.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Chennai is the capital and the largest city (in terms of population and area) of Tamil Nadu. It is also one of the wealthiest cities in India, thanks to its IT & ITES sectors, healthcare tourism, and automobile industries. The high per capita income and cultural factors have made Chennai a significant gold jewellery trade hub of the state. People in this city also invest in alternatives to physical gold, such as gold exchange-traded funds (ETFs), sovereign gold bonds, etc. This ensures the preservation of wealth in the long run. To get the best deal, you must keep track of the fluctuating prices of gold in the city. Keep reading to know Chennai's per-gram price of 24-karat and 22-karat gold.

22K & 24K Gold Rates Per Gram in Chennai

24K
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GramYesterdayToday
1gm
5,749.00
0.00 (0.00%)
5,749.00
0.00 (0.00%)
8gm
45,992.00
0.00 (0.00%)
45,992.00
0.00 (0.00%)
10gm
57,490.00
0.00 (0.00%)
57,490.00
0.00 (0.00%)
100gm
5,74,900.00
0.00 (0.00%)
5,74,900.00
0.00 (0.00%)

Impact of GST on Gold Rate in Chennai

The implementation of GST has raised gold prices in Chennai.

Before GST was implemented, gold buyers had to pay 1.2% VAT (Value Added Tax) + 1% customs duty + 10% gold import duty, equating to a total of 12.2% in taxes and duties. On June 3rd, 2017, the government announced that the revised GST on gold tax slabs would be 3%. This means that all gold items, whether they are completed or unfinished, will have to pay a 3% fee.

On June 3rd, 2017, the government announced that the revised GST on gold tax slabs would be 3%. This means that all gold items, whether they are completed or unfinished, will have to pay a 3% fee.

Historical gold rates in Chennai in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
03 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
02 Feb 2023
5,749.00
121.00 (2.15%)
5,475.00
115.00 (2.15%)
01 Feb 2023
5,628.00
23.00 (0.42%)
5,360.00
22.00 (0.42%)
31 Jan 2023
5,605.00
-13.00 (-0.23%)
5,338.00
-12.00 (-0.22%)
30 Jan 2023
5,618.00
0.00 (0.00%)
5,350.00
0.00 (0.00%)
29 Jan 2023
5,618.00
0.00 (0.00%)
5,350.00
0.00 (0.00%)
28 Jan 2023
5,618.00
6.00 (0.11%)
5,350.00
5.00 (0.10%)
27 Jan 2023
5,612.00
-37.00 (-0.65%)
5,345.00
-35.00 (-0.65%)
26 Jan 2023
5,649.00
37.00 (0.66%)
5,380.00
35.00 (0.66%)

How is the Purity of Gold Evaluated in Chennai?

The purity of gold in Chennai is certified by the Bureau of Indian Standards (BIS). The gold purity certification process followed by the BIS is known as hallmarking. Like any other part of the country, all Chennai-based jewellers must sell customers hallmarked gold only.

When you visit a jewellery store in Chennai, you can find the following hallmarks on the ornaments to determine their purity: - 22K916: It signifies 22-karat gold that contains 91.6% pure gold. - 18K750: It represents 18-karat gold that has 75% pure gold. - 14K585: It denotes 14-karat gold that comprises 58.5% pure gold.

Weekly & monthly gold rate in Chennai
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Points of Caution

When you are buying gold in Chennai, you should keep these four things in mind:

BIS Mark: You should check whether the BIS logo is present on your gold ornaments. The presence of this logo will confirm the authenticity of the gold item.


Karat and Fineness Purity: To confirm the fineness level or purity of the gold in your jewellery, you should check whether the fineness number is embossed. The six gold jewellery and artefact cartage values are 24-karat, 23-karat, 22-karat, 20-karat, 18-karat and 14-karat. 


Mark or Number of the Centre Hallmarking or Assaying: The laboratory or centre that hallmarks your gold is required to put the logo on the assessed jewellery. Before buying a gold ornament in Chennai, you should check whether the gold hallmarking centre is BIS-certified. 


Identification Mark of the Chennai Jeweller: Look for the identification mark of the jewellery manufacturer before buying gold jewellery from a store in Chennai.

Trend of Gold rates in Chennai

1 gram
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Day24K Gold22K Gold
01 February 202356285360
05 February 202300
Highest57495475
Lowest56285360

How is the Purity of Gold Evaluated in Chennai?

Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.

The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.

  1. BIS Mark

    Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.

  2. Karat

    Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.

  3. Jewellers Identification Mark

    The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.

FAQs of Gold price in Chennai

Which are the best jewellery shops in Chennai to buy gold ornaments, coins, biscuits and bars?

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How can I Invest in gold in Chennai?

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What are the different types of gold colours available in Chennai's jewellery stores?

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What are the different measurements in which the jewellery shops sell gold in Chennai?

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What are the highest and lowest rates of 24-karat gold in Chennai till now in 2022?

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