Today Gold Price in Chennai 22, 24 Carat and 916 Gold Rate 11 February 2024

GOLD 24K – 1 GRAM – Rs.6321

GOLD 22K – 1 GRAM – Rs.5790

GOLD 18K – 1 GRAM – Rs.4741

Note: Please be advised that the aforementioned gold rates are approximate figures and do not encompass any applicable taxes, such as GST, TCS, or other levies. The information provided has been updated as of 11.02.2023.

How to calculate the Gold rate in Chennai?

Calculating the gold rate in Chennai is a crucial step before making any purchase or sale of gold. The gold rate is determined by the current market price of gold and is influenced by various factors such as demand, supply, and global economic conditions. To calculate the gold rate in Chennai, one can refer to various sources such as newspapers, online portals, and local jewelers.

One of the easiest ways to calculate the gold rate in Chennai is by using online portals that provide real-time gold prices. These portals offer up-to-date information on the gold rate, making it easy for buyers and sellers to make informed decisions. Additionally, one can also consult with local jewelers who can provide an estimate of the gold rate based on the current market conditions. It is important to keep in mind that the gold rate can vary depending on the purity of the gold, making it essential to know the exact purity of the gold before calculating the gold rate.

Gold Rate refers to a system for purchasing and selling gold at the prevailing market price with immediate payment and delivery. The current rates for 22kt Gold in Chennai (for one gram or one savaran or pavan) are as stated below.

Brief Information About Gold Rates in India

You might have heard that recently global gold prices have fallen to the lowest levels since August 2021. But the price fall has not been that steep in India, as the Indian government increased import duty on gold. There are multiple factors responsible for the price change in gold. Central banks in the developed world increased rate hikes, which made US sovereign bonds more attractive, and the US dollar got stronger. While in India, one more factor is responsible for the change in the gold price. And that’s the import of gold. India imports the majority of its gold requirements. So, change in INR/USD exchange rates and domestic taxes like GST and import duty affect the price of gold in India. Now, here are some common questions you may have regarding gold rates.

What is the gold price in Chennai (India)?

The price of 10 gm, 24-carat gold in Chennai is 52,220 INR as of 20th July 2022. It is nearly 3.8% down from this month’s high, which was 54,020 INR on 5th July 2022. While the price of 10 gm, 22-carat gold in Chennai is 46,670 INR as of 20th July 2022.

How are gold rates fixed in India?

As we discussed earlier, gold rates are fixed after adding local taxation in India. Gold retailers and dealers fix gold rates after calculating global gold rates and adjusting currency exchange rates with the USD, import duty, and other taxes like VAT.