Gold Price Jumps Over Rs 4,000 In Chennai & Hyderabad Today: Latest 22/24K Gold Rates Inside; What’s Trending?

The domestic gold market saw an immense spike on Thursday, March 27, as investors closely monitored the consequences of the looming reciprocal U.S. tariffs on the global economy. Gold prices are predicted to rise in the upcoming sessions in response to the Russia-Ukraine scenario, which is driving appetites for safe haven assets amid anticipation of U.S. President Donald Trump's broad reciprocal tariff plans and highly anticipated key economic data, such as the US GDP and Core PCE Price Index, which are due later this week.

Gold & Silver Price In Hyderabad & Chennai Today

Today, 24 carat gold costs Rs 8,984 per gram, 22 carat gold costs Rs 8,235 per gram, and 18 carat gold costs Rs 6,738 per gram in Hyderabad and Chennai. While 22k of 100 grams of gold will cost Rs 8,23,500 in the cities today compared to Rs 8,19,500 yesterday, representing a price gain of Rs 4,000, the prices of 22k of 10 grams of gold in Hyderabad and Chennai on Thursday reached Rs 82,350 compared to Rs 81,950 on Wednesday, illustrating a 400 rupee rise in the price.

In Hyderabad and Chennai, the price of 24k of 10 grams of gold climbed by Rs 440 to Rs 89,840 on Thursday from Rs 89,400 on Wednesday. In contrast, the price of 24k of 100 grams of gold jumped by Rs 4,400 to Rs 8,98,400 in the cities today from Rs 8,94,000 yesterday.

While the price of 18k of 10 grams of gold in Hyderabad and Chennai went up to Rs 67,380 on Thursday from Rs 67,050 on Wednesday, an upsurge of Rs 330, the price of 18k of 100 grams of gold will cost Rs 6,73,800 in the cities today from Rs 6,70,500 yesterday, a price higher of Rs 3,300.

In Hyderabad and Chennai, the price of silver has remained steady at Rs 111 per gram and Rs 1,11,000 per kilogramme.

Gold Holds Firm Above $3,000 As Inflation And Growth Data Loom

"Gold remains resilient above $3,000/oz despite easing concerns over Trump's upcoming tariffs, as haven demand is supported by lingering uncertainty and upcoming U.S. economic data, especially the PCE inflation index and GDP figures. While improving risk sentiment and hopes of limited tariff scope have pulled gold slightly off record highs, any signs of persistent inflation or recession risk could renew upward momentum," said Justin Khoo, Senior Market Analyst - APAC, VT Markets.

"Oil prices are supported by reduced fears of a global trade war, optimism around U.S.-led peace talks with Russia and Ukraine, and tightening supply expectations from extended OPEC+ production cuts. While speculators are growing more bullish on Brent, WTI positions show mixed sentiment, highlighting demand-side concerns in the U.S. The market appears more focused on supply risks from sanctions and OPEC+ actions rather than Trump's tariff impact. Overall, oil could trend higher if peace efforts falter or supply tightens further," the analyst further added.

MCX Gold Outlook Today

"Technically, MCX Gold is in uptrend with RSI seeing divergence at higher levels indicating some fatigue in bulls. In yesterdays trading session MCX Gold traded largely sideways with bullish bais. It made another Inverted hammer on daily chart indicating protection on downside. Support is now placed at 87427 and resistance at 87927/88,474 level. One can Buy MCX Gold with strict stoploss of 87427 for target of 87927/88474," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Prediction Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold prices are steady for second day, finding support near a record high as US President Donald Trump announced tariffs on all auto imports, intensifying trade tensions and bolstering haven demand," commented the research analyst team of Nirmal Bang 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.