Click it and Unblock the Notifications
Big rise In Gold Prices In Chennai On Feb 11; 24K/100g Yellow Metal Jumps Rs. 8700; Latest gold rates here
Gold prices in Chennai today are once again peaking at record highs due to the rising in precious metal prices globally. On February 11, 2025, gold rates in Chennai witnessed a significant jump fueled by fears of an escalating global trade war and growing concerns regarding the tensions between the U.S. and its trading partners.
On Feb 11, gold rates in Chennai today jumped massively; the 22-carat gold rates in Chennai spiked Rs. 870 to cost Rs. 87,930. The 24-carat gold rates also rose by Rs. 800 to retail at Rs. 80,600. The 18 carat gold rates spiked By Rs. 650 to cost Rs. 66,500.
Silver Prices in Chennai Today
Silver prices in Chennai today observed no major momentum, and the price per kilogram costs Rs. 107,000, and 100 grams of white metal currently stand at Rs. 10,700 after rising by Rs. 100.
Chennai Gold Rates Movement in the Last Five Days
Over the last five days, the gold prices in Chennai have been quite volatile with major gains and losses.
| Dates | 24-carat/10g | 22 carat/10g |
|---|---|---|
| 11th February | Rs. 87,060 | Rs. 79,450 |
| 8th February | Rs. 87,060 | Rs. 79,450 |
| 7th February | Rs. 86,510 | Rs. 79,300 |
| 6th February | Rs. 86,510 | Rs. 79,300 |
| 5th February | Rs. 86,240 | Rs. 79,300 |
Spot Gold and Silver Price Update
According to the latest report on gold price movement from Reuters, spot gold surged to a record high of $2,942.70 per ounce during Tuesday's Asian trading session, surpassing its previous all-time peak of $2,911.30, set just a day earlier. This marks the eighth record gold has set in 2025 alone, showcasing the ongoing strength and resilience of the precious metal. Gold has been on an impressive uptrend for the past 16 months, having gained 63% from its low of $1,809.50 per ounce recorded on October 23, 2023.
MCX Gold and Silver Futures Outlook
Gold on the Multi Commodity Exchange (MCX) has touched a record high once again after crossing the 85,000 mark. Gold futures, expected to mature on April 4, 2025, jumped by 0.16% to trade at Rs. 85,950. Meanwhile, silver futures, with an expiry date of March 5, 2025, declined this morning by 0.67%, trading at Rs. 94,657.
According to the ICICI Direct Research Report, "MCX Gold April is expected to hold the support at the ₹85,000 level and move higher towards the ₹86,800 level. Only a move below the ₹85,000 level may cause prices to slip towards the ₹84,500 level. Additionally, MCX Silver March is expected to hold the key support at ₹94,500 and move higher towards ₹96,600. Only above the ₹96,600 level would it turn bullish and open the doors towards ₹98,000."
Expert Analysis of Gold and Silver Prices
According to the ICICI Direct Research Report, Gold is expected to hold above $2890 and move higher towards $2950 on safe haven demand. Fresh levies are prompting investors to go after the safer asset class. Further, increasing investment demand in China would also support the bullion to scale new highs. Meanwhile, inflation concerns would also attract funds to go long in the metal to hedge against inflation. Meanwhile, investors will focus on the comments from Fed Chair Powell's speech to get more clarity on the timing of the rate cut."
Sign in with Google