Gold Prices Jump Over Rs 1 Lakh Mark in India: Check Silver and Gold Rate in Chennai Today For 22K, 24K & 18K

Gold prices in India crossed the Rs 1 lakh mark on Tuesday, with 24-karat gold priced at Rs 1,01,350 per 10 grams across the country. This is the first time gold has breached the Rs 1 lakh threshold in the history of the Indian retail market, reflecting a strong upward trend in global bullion rates and domestic demand.

Gold Prices Cross 1 Lakh Mark in Major Cities of India

Major Indian cities including Mumbai, Chennai, Bengaluru, Hyderabad, Pune, Kolkata, and Ahmedabad recorded the same price. However, the national capital Delhi reported the highest rate at Rs 1,01,500 per 10 grams of 24K gold.

Gold Rate in Chennai Today

Among the major cities, Chennai saw the steepest rise in gold prices on Tuesday. This marked the second consecutive day of price increases. On Monday, prices went up by Rs 70 and Rs 77 for 22-karat and 24-karat gold respectively. On Tuesday, prices surged further by Rs 275 and Rs 300 for the two categories.

24 Karat Gold Price in Chennai Today

In Chennai, the price of 10 grams of 24-karat gold reached Rs 1,01,350, a significant rise of Rs 3,000 from Monday's Rs 98,350. The rate for 1 gram of 24K gold also crossed the Rs 10,000 mark, reaching Rs 10,135, up by Rs 300 from the previous rate of Rs 9,835.

22 Karat Gold Rate Today

In the Gateway of South India, the 22-karat gold rate increased from Rs 9,015 to Rs 9,290 per gram on April 22. This is a one-day increase of Rs 275. The price for 10 grams of 22K gold rose to Rs 92,900, up by Rs 2,750 from the previous day's Rs 90,150.

18k Gold Price Today

Meanwhile, the precious metal also gained value in the 18-karat category. On Tuesday, the price of 1 gram of 18-karat gold rose to Rs 7,690, a Rs 230 increase from Monday's Rs 7,460. For 10 grams, the price reached Rs 76,900, up by Rs 2,300 from Rs 74,600.

Silver Price in Chennai on April 22

While gold continues its upward climb, silver holds its gravity with remarkable price stability in the Chennai market. The price of the shining white metal in Chennai is at Rs 111 for one gram and Rs 1,11,000 for one kilogram on Tuesday.

The surge in Gold reflects strong local demand, particularly in Chennai, which has a deep cultural and economic connection with gold. The ongoing festive Akshaya Tritiya and wedding season is also believed to be contributing to the rising prices in the region.

MCX Gold Outlook

Research Analyst at Way2Wealth Brokers, Abhishek M Pelu noted, "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."