Gold Price In Chennai & Hyderabad Today: 22K/100 Gms Rally Rs 7,000, 24K/10 Gm At Rs 98,350; Silver Up Too

On Monday, April 21, the price of gold surged sharply on the domestic market due to heightened geopolitical threats, trade tensions, especially between the U.S. and China, and a spike in demand for safe-haven investments. Gold promptly recovered and gained 25% year-to-date (YTD), reaching all-time highs on both the MCX and COMEX after President Trump recently made remarks about additional tariffs on Chinese imports and stronger U.S. Treasury rates. Important events that could affect gold prices in the coming sessions include the Fed's next policy meetings (probably in May and June 2025), monthly inflation reports from the US, Eurozone, and other countries; geopolitical risks like Ukraine-Russia, Middle East tensions and trade wars, the strength of the US dollar, central bank buying decisions, and jewelry demand on Akshaya Tritiya.

Gold & Silver Price In Chennai Today

Today, 24 carat gold costs Rs 9,835 per gram, 22 carat gold costs Rs 9,015 per gram, and 18 carat gold costs Rs 7,460 per gram in Chennai. On Monday, the price of gold in Chennai climbed to Rs 90,150 for 22k of 10 grams from Rs 89,450 before. On the other hand, the price of 22k of 100 gms of gold would cost Rs 9,01,500 today, up Rs 7,000 from Rs 8,94,500 yesterday.

Gold price in Chennai on Monday reached Rs 98,350 for 24k of 10 grams compared to Rs 97,580 earlier, representing a price jump of Rs 770, whereas 24k of 100 grams of gold rates will cost Rs 9,83,500 in Chennai today compared to Rs 9,75,800 earlier, representing a price jump of Rs 7,700.

Gold price in Chennai on Monday reached Rs 74,600 for 18k of 10 grams compared to Rs 74,050 yesterday, representing a price gain of Rs 550, whereas gold rates in Chennai today will cost Rs 7,46,000 for 18k of 100 grams compared to Rs 7,40,500 yesterday, representing a costlier rate of Rs 5,500.

The price of silver in Chennai today is Rs 111 per gram and Rs 1,11,000 per kilogram compared to Rs 110 and Rs 1,10,000 yesterday.

Gold & Silver Price In Hyderabad Today

The price of gold in Hyderabad today is Rs 9,835 per gram for 24 karat gold, Rs 9,015 per gram for 22 karat gold and Rs 7,376 per gram for 18 karat gold. Gold price in Hyderabad on Monday reached Rs 90,150 for 22k of 10 grams compared to Rs 89,450 yesterday, representing a price gain of Rs 700, whereas 22k of 100 grams of gold will cost Rs 9,01,500 compared to Rs 8,94,500 yesterday, representing a price jump of Rs 7,000.

Today's gold price in Hyderabad is Rs 98,350 for 24k of 10 grams, up Rs 770 from yesterday's price of Rs 97,580. At the same time, Monday's gold price was Rs 9,83,500 for 24k of 100 gms, up Rs 7,700 from yesterday's price of Rs 9,75,800.

Today 18 Carat Gold Rate Per 10 Gram in Hyderabad is Rs 73,760 compared to Rs 73,190 earlier representing a price jump of Rs 570 whereas gold price in Hyderabad on Monday for 18k of 100 grams reached Rs 7,37,600 compared to Rs 7,31,900 earlier representing a price jump of Rs 5,700.

Today, silver costs Rs 111 per gramme and Rs 1,11,000 per kilogram in Hyderabad, up from Rs 110 and Rs 1,10,000 yesterday.

MCX Gold Outlook Today

"On the technical front, MCX Gold remains bullish, with all key technical indicators pointing to an uptrend. It is tracking the upper Bollinger Band, indicating strong buyer interest. On the daily chart, immediate support is placed at 94,780, while resistance is seen at 95,884 and 97,000. Traders can consider buying near support levels, targeting 95,884/97,000," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

"On the technical front, gold remains extremely bullish. Both the weekly and daily charts show a strong uptrend. On the daily chart, several bearish RSI divergence signals have been invalidated, with MCX Gold consistently making new highs. It is trading along the upper Bollinger Band, with the RSI consistently hovering between 75 and 80-indicating strong momentum and aggressive buying interest. Buying the dip remains a prudent trading strategy for MCX Gold. Currently, support is placed at 92,750 and resistance at 99,400. One can consider buying MCX Gold near 92,750 to maintain a favorable risk-reward ratio, targeting 95,935/99,400. Any weekly close below 92,750 will warrant a review of this outlook," commented Abhishek Pelu.

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.