Today gold rate in Chennai indicate an increase across various purities, including 22K, 24K, and 18K gold. As of October 29, 2024, the prices reflect an upward trend, driven by recent gains in the global gold market and rising domestic demand. This information is particularly relevant for investors and jewelry buyers who are tracking the daily shifts in gold prices.
- 22K Gold Rate: ₹7,375/g (+₹60)
- 24K Gold Rate: ₹8,045/g (+₹65)
- 18K Gold Rate: ₹6,075/g (+₹50)
Gold prices in Chennai have been on a steady incline since the beginning of the year, with demand primarily concentrated in jewelry purchases, while interest in gold bars and coins remains lower. This trend highlights gold’s continued appeal as a preferred asset for adornment rather than as an investment vehicle.
24 Carat Gold Rate for October 29, 2024
Understanding 24K Gold
The purest form of gold, 24K or 999 gold, is priced today at ₹8,045 per gram, reflecting an increase of ₹65 from yesterday. This high-purity gold is ideal for investments due to its excellent resale value. However, its malleability limits its use in jewelry, as it is less durable for everyday wear.
| Weight | Today’s Price (₹) | Yesterday’s Price (₹) | Price Change (₹) |
|---|---|---|---|
| 1 gram | ₹8,045 | ₹7,980 | +₹65 |
| 8 grams | ₹64,360 | ₹63,840 | +₹520 |
| 10 grams | ₹80,450 | ₹79,800 | +₹650 |
| 100 grams | ₹8,04,500 | ₹7,98,000 | +₹6,500 |
22 Carat Gold Rate for October 29, 2024
Overview of 22K Gold Prices
The 22K gold price in Chennai stands at ₹7,375 per gram, up by ₹60 from the previous day. This gold, containing 91.67% pure gold and alloyed with other metals like copper or silver, is more durable than 24K gold. Its blend of purity and strength makes 22K gold a popular choice for jewelry.
| Weight | Today’s Price (₹) | Yesterday’s Price (₹) | Price Change (₹) |
|---|---|---|---|
| 1 gram | ₹7,375 | ₹7,315 | +₹60 |
| 8 grams | ₹59,000 | ₹58,520 | +₹480 |
| 10 grams | ₹73,750 | ₹73,150 | +₹600 |
| 100 grams | ₹7,37,500 | ₹7,31,500 | +₹6,000 |
18 Carat Gold Rate for October 29, 2024
What to Know About 18K Gold
With a purity of 75%, 18K gold is valued for its affordability and durability. Priced today at ₹6,075 per gram, 18K gold reflects an increase of ₹50 from yesterday. This type of gold is often used in high-quality jewelry due to its resilience, while still offering a good proportion of gold content.
| Weight | Today’s Price (₹) | Yesterday’s Price (₹) | Price Change (₹) |
|---|---|---|---|
| 1 gram | ₹6,075 | ₹6,025 | +₹50 |
| 8 grams | ₹48,600 | ₹48,200 | +₹400 |
| 10 grams | ₹60,750 | ₹60,250 | +₹500 |
| 100 grams | ₹6,07,500 | ₹6,02,500 | +₹5,000 |
Today’s Gold Rate in Chennai for the Last 10 Days (1 gram) – 24K and 22K
Tracking the daily fluctuations in gold prices is essential for buyers and investors in Chennai. The gold rates for both 24K and 22K have shown variations over the last ten days, influenced by multiple economic factors, including global market trends and local demand. Here is the recent data for the gold rate in Chennai:
| Date | 24K | 22K |
|---|---|---|
| Oct 29, 2024 | ₹8,045 (+65) | ₹7,375 (+60) |
| Oct 28, 2024 | ₹7,980 (-49) | ₹7,315 (-45) |
| Oct 27, 2024 | ₹8,029 (0) | ₹7,360 (0) |
| Oct 26, 2024 | ₹8,029 (+71) | ₹7,360 (+65) |
| Oct 25, 2024 | ₹7,958 (+11) | ₹7,295 (+10) |
| Oct 24, 2024 | ₹7,947 (-60) | ₹7,285 (-55) |
| Oct 23, 2024 | ₹8,007 (+43) | ₹7,340 (+40) |
| Oct 22, 2024 | ₹7,964 (0) | ₹7,300 (0) |
| Oct 21, 2024 | ₹7,964 (+22) | ₹7,300 (+20) |
| Oct 20, 2024 | ₹7,942 (0) | ₹7,280 (0) |
Comparison of Average Today Gold Rate in Chennai (1 gram)
A long-term view of gold prices reveals trends over periods, helping buyers and investors understand broader movements in gold value. Below is a comparison of average rates for 24K and 22K gold over various terms.
| Term | 24K | 22K |
|---|---|---|
| 10 Days | ₹7,986.50 | ₹7,321 |
| 20 Days | ₹7,887.25 | ₹7,230 |
| 30 Days | ₹7,837.37 | ₹7,184.33 |
| 60 Days | ₹7,647.72 | ₹7,010.42 |
| 90 Days | ₹7,486.37 | ₹6,862.49 |
| 180 Days | ₹7,400.54 | ₹6,783.79 |
| 1 Year | ₹6,975.86 | ₹6,394.66 |
| 2 Years | ₹6,435.21 | ₹5,898.99 |
| 3 Years | ₹6,006.50 | ₹5,506.17 |
| 4 Years | ₹5,734.67 | ₹5,256.97 |
| 5 Years | ₹5,537.40 | ₹5,077.58 |
| 9 Years | ₹4,581.66 | ₹4,216.12 |
Historical Gold Rate Movement in Chennai (April – October 2024)
Gold Price Movement in Chennai, October 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st October | ₹7,050 | ₹7,691 |
| 29th October | ₹7,375 | ₹8,045 |
| Highest | ₹7,375 (29 Oct) | ₹8,045 (29 Oct) |
| Lowest | ₹7,025 (10 Oct) | ₹7,664 (10 Oct) |
| Overall Performance | Rising | Rising |
| % Change | +4.61% | +4.60% |
Gold Price Movement in Chennai, September 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st September | ₹6,695 | ₹7,304 |
| 30th September | ₹7,080 | ₹7,724 |
| Highest | ₹7,100 (27 Sept) | ₹7,745 (27 Sept) |
| Lowest | ₹6,669 (4 Sept) | ₹7,276 (4 Sept) |
| Overall Performance | Rising | Rising |
| % Change | +5.75% | +5.75% |
Gold Price Movement in Chennai, August 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st August | ₹6,430 | ₹7,015 |
| 31st August | ₹6,695 | ₹7,304 |
| Highest | ₹6,715 (28 Aug) | ₹7,325 (28 Aug) |
| Lowest | ₹6,330 (7 Aug) | ₹6,906 (7 Aug) |
| Overall Performance | Rising | Rising |
| % Change | +4.12% | +4.12% |
Gold Price Movement in Chennai, July 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st July | ₹6,685 | ₹7,293 |
| 31st July | ₹6,420 | ₹7,004 |
| Highest | ₹6,920 (17 July) | ₹7,549 (17 July) |
| Lowest | ₹6,385 (30 July) | ₹6,965 (30 July) |
| Overall Performance | Falling | Falling |
| % Change | -3.96% | -3.96% |
Gold Price Movement in Chennai, June 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st June | ₹6,710 | ₹7,320 |
| 30th June | ₹6,685 | ₹7,293 |
| Highest | ₹6,840 (7 June) | ₹7,462 (7 June) |
| Lowest | ₹6,625 (27 June) | ₹7,228 (27 June) |
| Overall Performance | Falling | Falling |
| % Change | -0.37% | -0.37% |
Gold Price Movement in Chennai, May 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st May | ₹6,635 | ₹7,238 |
| 31st May | ₹6,730 | ₹7,342 |
| Highest | ₹6,900 (20 May) | ₹7,528 (20 May) |
| Lowest | ₹6,600 (4 May) | ₹7,200 (4 May) |
| Overall Performance | Rising | Rising |
| % Change | +1.43% | +1.44% |
Gold Price Movement in Chennai, April 2024
| Date | 22K Rate | 24K Rate |
|---|---|---|
| 1st April | ₹6,455 | ₹7,042 |
| 30th April | ₹6,750 | ₹7,364 |
| Highest | ₹6,890 (19 Apr) | ₹7,516 (19 Apr) |
| Lowest | ₹6,430 (2 Apr) | ₹7,015 (2 Apr) |
| Overall Performance | Rising | Rising |
| % Change | +4.57% | +4.57% |
Best Jewellers to Buy Gold Jewellery in Chennai
1. GRT Jewellers
- Overview: GRT Jewellers, established in 1964, is renowned for its wide range of gold, diamond, and platinum jewelry collections.
- Specialties: Unique designs, traditional South Indian styles, and BIS-hallmarked purity.
- Locations: Multiple showrooms across Chennai and Tamil Nadu.
- Why Choose: Known for transparent pricing, quality assurance, and excellent customer service.
2. Kalyan Jewellers
- Overview: Kalyan Jewellers is a leading national brand with a strong presence in Chennai, offering diverse jewelry collections.
- Specialties: Extensive variety, custom-made options, and traditional designs along with contemporary styles.
- Locations: Multiple branches in Chennai.
- Why Choose: Offers both affordable and premium options, strong focus on customer satisfaction and hallmark-certified purity.
3. Malabar Gold & Diamonds
- Overview: Known for a wide range of designs, Malabar Gold & Diamonds has a strong reputation in Chennai for traditional and modern jewelry.
- Specialties: Offers a wide selection of traditional and designer jewelry with BIS-certified gold.
- Locations: Multiple outlets in Chennai.
- Why Choose: Good mix of price and quality, transparent pricing, and reliable post-purchase services.
4. Saravana Stores Thanga Nagai Maligai
- Overview: Popular among Chennai residents, Saravana Stores offers affordable and diverse jewelry collections.
- Specialties: Traditional South Indian styles, large selection of wedding jewelry, and affordable prices.
- Locations: Several branches in Chennai.
- Why Choose: Budget-friendly, with hallmark-certified gold and wide variety, making it popular for large-scale purchases like weddings.
5. Tanishq
- Overview: A subsidiary of the Tata Group, Tanishq is well-known across India for high-quality jewelry and a trusted brand image.
- Specialties: High-quality craftsmanship, contemporary and traditional styles, with an emphasis on modern, innovative designs.
- Locations: Multiple branches across Chennai.
- Why Choose: Transparent policies, great after-sales support, and a wide variety, from lightweight jewelry to bridal collections.
Buying Gold in Chennai: Key Factors to Keep in Mind
Purity Assurance: Ensure the gold is BIS-hallmarked, certifying its purity and authenticity through the Bureau of Indian Standards (BIS). Hallmarked gold guarantees you receive the quality advertised, protecting you from impurities or counterfeit items.
Price Determinants: Gold prices vary by karat (e.g., 24K, 22K, 18K), making it essential to confirm purity and associated charges before buying. While 24K gold is more costly and preferred for investments, 22K is often used for jewelry.
GST and Making Charges: In India, a 3% Goods and Services Tax (GST) applies to gold purchases, and making charges for jewelry vary by design complexity. These charges are generally non-refundable, so comparing across sellers can help minimize expenses.
Investing in Gold vs. Other Assets
- Fixed Deposits (FDs): FDs provide guaranteed returns with low risk but may not protect against inflation like gold. Suitable for conservative investors, FDs offer stable returns, whereas gold hedges against currency devaluation and economic volatility.
- Real Estate: A high-value, long-term investment with potential for strong returns but lower liquidity compared to gold, making cash conversion slower.
- Stocks and Mutual Funds: While offering growth potential, stocks and mutual funds come with market risks. Gold’s relative stability makes it suitable for risk-averse investors.
Digital Gold and Its Growing Popularity
Digital gold is gaining popularity as a convenient alternative, allowing investments without handling physical gold. Platforms like Paytm and Google Pay enable buying, selling, and secure storage of digital gold in small increments, ideal for tech-savvy investors seeking flexibility and accessibility. This option is appealing to young and first-time investors, offering secure storage and on-the-go access.
Factors Influencing Today’s Gold Rates in Chennai
- Global Economic Conditions: Gold prices are sensitive to international trends, including interest rates and currency strength. Recently, economic uncertainties have driven prices up as investors seek safety in gold.
- Domestic Demand: Seasonal demand, especially during festivals, elevates gold prices, adding to October’s price increase.
- Exchange Rates and Import Duties: Since India imports most of its gold, changes in the rupee-dollar exchange rate impact prices. Import duties also influence costs, especially amid currency fluctuations.
Is Now a Good Time to Invest in Gold?
With rising prices, many consider this an opportune time to invest in gold, which acts as a hedge against inflation and economic instability. For those seeking a low-risk asset, gold is attractive, especially in volatile stock markets and interest rate environments.
Gold Investment Options
- Physical Gold: Traditional jewelry or bullion.
- Digital Gold: Available through mobile wallets and online platforms.
- Gold ETFs and Bonds: Ideal for those interested in gold investments without holding physical gold.
Tracking Daily Gold Price Changes
Tracking gold prices is easy with tools like Googltimes.com, which provides real-time rates across major cities for various purities (24K, 22K, 18K). Users can monitor prices, fluctuations, and trends, reflecting national and international influences. This user-friendly platform is a valuable resource for investors, jewelers, and buyers making purchasing decisions.
Pingback: Today Gold Rate in Chennai (2nd November 2024)