Gold Price In Chennai Creates Record, Jumps To All Time High Levels; Check 24K 22k 18k Gold Rates Today

Gold prices in Chennai climbed once again as concerns over the U.S. trade war intensified following Donald Trump's announcement of counter-tariffs on multiple countries. This news has increased the fears of economic instability, prompting investors to turn to gold as a safe-haven asset. Gold demand in India has also risen in the past few weeks, which is also contributing to this bullish trend.

As of today, gold prices In Chennai today, gold jumped for the seventh consecutive trading session At Rs. 3900 per 10 grams of 24k carat yellow metal, costing Rs. Similarly, the 22-carat gold rates in Chennai rose by Rs. 350 per 10 grams to cost Rs. 79,800.

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.

Spot Gold and Silver Price Update

According to the latest report on gold price movement from Reuters, spot gold prices rose 0.5% to USD 2,875.79 per ounce as of 04:03 GMT, following a record high of USD 2,886.62 reached on Friday. Meanwhile, U.S. gold futures climbed 0.5% to $2,902.40 per ounce, and spot silver also gained 0.6%, trading at $31.99 per ounce, as investors reacted to shifting market trends.

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 0.42% to trade at Rs. 85,243. Meanwhile, silver futures, with an expiry date of March 5, 2025, declined this morning by 0.20%, trading at Rs. 95,146.

Expert Analysis of Gold and Silver Prices

According to the India Bullion and Jewelers Association, as featured in the Nirmal Bang securities report," Gold pared gains on Friday after climbing to a new all-time high as the dollar pushed higher on uncertainty surrounding US President Donald Trump's plans to impose tariffs. A Reuters reporter said Friday on social media that Trump planned to announce reciprocal tariffs, without specifying which countries would be targeted. The American president said midday Friday that he'll make an announcement next week. Bullion gave up most of the gains from a fresh record of $2,886.79 an ounce reached earlier in US trading hours. A key US jobs report early Friday showed a moderating-but still resilient-labor market, which supports the case for the Federal Reserve to hold interest rates steady for now. Such a scenario in theory would be bearish for gold as it pays no interest. But the precious metal is still well supported by persistent haven demand. Investors put money into bullion amid fears that Trump will follow through on threats to impose tariffs on both allies and adversaries. His unconventional geopolitical positions are also supporting gold's role as a store of value in uncertain times."