Gold Price In Chennai & Hyderabad Today, 18 April: 22-24K/100 Gms Jumps Over Rs 2,500; 1 Kg Silver Dips Rs 100

On Friday, April 18, domestic gold prices climbed as the dollar index fell below 99.80 in response to a reduction in trade tensions. Due to a declining dollar and safe haven purchasing, spot gold saw the highest one-day rise since April 2020 on the global market. It then recovered to surpass the crucial psychological barrier of $3300. Gold rates are anticipated to rise in the upcoming sessions because of the rising trade friction between the United States and China, the possibility of an ECB rate cut, the Fed chair's dovish outlook on economic growth, the dollar's weakening, and safe-haven buying.

Gold & Silver Price In Chennai Today

On Friday, the price of gold in Chennai for 22k of 10 grams was Rs 89,450, up Rs 250 from Rs 89,200 on Thursday. Today, the price of gold in Chennai for 22k of 100 grams was Rs 8,94,500, up Rs 2,500 from Rs 8,92,000 yesterday.

While 24k of 100 grams of gold would cost Rs 9,75,800 in Chennai today, compared to Rs 9,73,100 yesterday, reflecting a price increase of Rs 2,700, the price of gold in Chennai on Friday reached Rs 97,580 compared to Rs 97,310 on Thursday, marking a price rise of Rs 270. 18k of 10 gms of gold would cost Rs 74,050, up Rs 150 from Rs 73,900 yesterday. In contrast, the price of gold in Chennai rose to Rs 7,40,500 on Friday, up Rs 1,500 from Rs 7,39,000 yesterday, for 18k of 100 grams of yellow metal.

Silver costs Rs 109.90 per gram and Rs 1,09,900 per kilogram in Chennai today, down from Rs 110 and Rs 1,10,000 yesterday.

Gold & Silver Price In Hyderabad Today

Gold prices in Hyderabad climbed by Rs 250 from Rs 89,200 on Thursday to Rs 89,450 on Friday for 22k of 10 gms. In Hyderabad, the cost of 22k of 100 gms of gold reached Rs 8,94,500 today, up Rs 2,500 from Rs 8,92,000 yesterday.

At Rs 97,580 on Friday, the price of gold in Hyderabad jumped by Rs 270 from Rs 97,310 on Thursday, while 24k of 100 grams of gold would cost Rs 9,75,800 today, compared to Rs 9,73,100 yesterday, indicating a price increase of Rs 2,700.

The price of 18k of 10 gm of gold will be Rs 73,190, which is Rs 210 more than it was yesterday (Rs 72,980). On Friday, however, the price of gold in Hyderabad jumped to Rs 7,31,900, up Rs 2,100 from Rs 7,29,800 for 18k of 100 gms of yellow metal.

In Hyderabad, the price of silver dropped from Rs 110 and Rs 1,10,000 yesterday to Rs 109.90 per gramme and Rs 1,09,900 per kilogram today.

Gold Price Outlook

"Gold prices showed signs of fatigue, slipping below recent highs as Comex traded near $3,324 and MCX Gold near 95250 with losses of 400rs, struggling to break past the key resistance at $3,350. On the downside, strong support lies between $3,280-$3,290, making this zone critical for maintaining bullish momentum. At these elevated levels, volatility remains high, and any fresh buying should be approached with caution. A decisive break below $3,290 could trigger further downside, opening the door for a corrective move towards $3,150 in the near term," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.