Gold Rate in Chennai Today April 10: Big Jump in Gold Price, 24 K Hits Rs 93380/10 gm; Silver Prices Rise Too

Gold Rate in Chennai Today: The relief from the skyrocketing prices of precious metals for buyers was short-lived, as gold has regained its upward momentum. Gold rates in Chennai witnessed a sharp jump on Thursday, April 10, Silver prices in the city mirrored the trend and became more expensive.

Gold price in Chennai today jumped nearly Rs 2940 per 10 grams for 24 karat gold. The rising Chennai gold price aligned with the surge in the price of the precious metal across India, due to global uncertainty post Trump tariffs update. United States President Donald Trump on Tuesday nearly doubled tariffs on Chinese imports to 104%. Gold price in India is updated daily and is hugely impacted by its international price fluctuations.

Gold Rate in Chennai Today: Check 24,22,18 Karat Gold Price on April 10

The price of 24 karat of gold in Chennai jumped Rs 2940 to Rs 93380 per 10 gram on Thursday, April 10. Likewise, 22 karat of gold in Chennai became expensive by Rs 2700 to Rs 85600 today. The price of 18 karat of gold (also known as 999 gold) increased nearly Rs 2550 per 10 gram to Rs 70,900.

The gold rates in Chennai mentioned here are indicative, but the actual cost of jewellery people may purchase today will also include additional costs like TCS, GST, making charges, etc. These additional costs will affect the price of gold jewellery and ornament, hence readers must confirm the actual gold price from their local jeweller before making purchase.

Silver Rate in Chennai Today: Check Full Price

Silver rates in Chennai witnessed a decent increase in their prices on Thursday, April 10. The precious metal was priced at Rs 104 per gram and Rs 1,04,000 per kilogram. Generally, there has been sudden increase in the price of silver amid gold rally. The trend is observed due to shift in buyers' interest towards silver as a cheaper alternative to gold.

Gold Rate in India Today

Gold rate in India today became more expensive as 24 karat gold was priced at Rs 9,338 per gram, whereas 22 karat gold price in India was fixed at Rs 8560 per gram. Likewise, 18 karat gold price increased to Rs 7004 per gram

International Gold Price

The international gold price rose sharply to $3090 per ounce on Thurday, April 10 as it gained more than 3% from previous session, according to Trading Economics. The revival in gold rally has come in the backdrop of Donald Trump's further tariff actions against China. He increased tariffs on China imports to 104% which was again reciprocated by China as it increased tariffs on US goods to 84%.

The back-and-forth tariff hikes raised the fear of a full-blown out trade war between the two giant economies which is likely to impact the global economy and stock markets as well. Gold prices in India is also impacted by the depreciating value of domestic currency. The Indian Rupees witnessed its worst ever single day fall in 26 months on April 7. After remaining one of the worst performing Asian currency on Monday, there has been no improvement in its value till now.

"One key domestic variable that does impact gold prices is the USDINR movement. This week alone, the rupee has depreciated by over 1%, lending support to domestic gold prices. Therefore, while the RBI meeting may have limited direct impact on gold, fluctuations in the USDINR could cause volatility in domestic pricing," explained Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd.