Gold prices eased on Thursday across Indian cities, including Chennai, as global market factors exerted pressure on bullion. The dip came amid a stronger dollar and volatility in international bond yields, signalling a cautious environment for traders and households keeping a close watch on precious metal investments.
In Chennai, 22-karat gold is priced at Rs 9,795 per gram, while 24-karat gold (999 purity) is quoted at Rs 10,686 per gram. These prices are broadly in line with other key metros, where fluctuations in global trade flows and domestic currency movements continue to dictate day-to-day pricing.
International Dynamics Drive Gold
The gold trade remains highly sensitive to the rupee-dollar equation, as India imports the majority of its demand from overseas. Any shift in the dollar’s strength can quickly alter local gold valuations. The US dollar’s firmness, coupled with expectations around the Federal Reserve’s interest rate stance, kept bullion under pressure globally.
In addition, broader investor sentiment has been influenced by recent economic data and geopolitical risks. While gold is still valued as a safe-haven asset, its short-term trajectory is being shaped by central bank policies and the interplay of commodity markets.
Chennai Buyers Remain Steady
Gold’s cultural significance in Tamil Nadu continues to underpin its demand. In Chennai, gold is more than a financial investment — it represents tradition, celebration, and long-term wealth preservation. Despite the marginal dip in prices, local jewellers say that seasonal demand and festive sentiment remain resilient, particularly as weddings and auspicious occasions fuel purchases.
Elsewhere, prices show slight variations. In Delhi and Lucknow, 22K gold is trading higher at Rs 9,810 per gram, while Ahmedabad and Indore also report Rs 9,800. In Mumbai, Bengaluru, Pune, and Hyderabad, prices match Chennai’s Rs 9,795.
Overall, while gold’s slip today reflects global pressures, Chennai’s retail market remains active. Analysts note that buyers often use price corrections as opportunities to accumulate, reinforcing the long-held trust in gold as both a cultural and financial anchor.
