Gold Surges Again! Chennai & Hyderabad See Historic Highs Today; Silver Gains Rs 3,000

After Comex Gold hit a record high on Thursday amid growing global trade tensions and U.S. President Donald Trump announced new auto tariffs, gold prices in the domestic market saw a record high jump on Friday, March 28. With the US likely to impose reciprocal tariffs on April 2, 2025, the bullion market is likely to remain shaky. On the other hand, spot gold jumped over $3,056 per ounce, reaching a record high of $3,059 amid the attention today will be on the US PCE price index.

Gold & Silver Price In Chennai & Hyderabad Today

Today, 24 carat gold costs Rs 9,098 per gram, 22 carat gold costs Rs 8,340 per gram, and 18 carat gold costs Rs 6,824 per gram in Hyderabad and Chennai. On Friday, the price of 22k of 10-gram gold in Hyderabad and Chennai climbed by Rs 1.050 to Rs 83,400 from Rs 82,350 on Thursday. In Hyderabad and Chennai, 22k of gold hit a record value of Rs 8,310 per gram on March 20. Today, a 22k piece of 100 grams of gold would cost Rs 8,34,000 in the cities, up Rs 10,500 from yesterday's price of Rs 8,23,500.

24k of gold earlier had reached a record high of Rs 9,066 per gram on March 20th, but today it will cost Rs 9,098 per gram, the highest price so far in March 2025. While 24k of 100 grams of gold will cost Rs 9,09,800 in the cities today compared to Rs 8,98,400 yesterday, representing a price climb of Rs 11,400, 24k of 10 grams of gold prices in Hyderabad and Chennai reached Rs 90,980 on Friday compared to Rs 89,840 on Thursday, which represents a price jump of Rs 1,140.

Hyderabad and Chennai saw 18k of 10 grams of gold prices reach Rs 68,240 on Friday, up from Rs 67,380 on Thursday, signifying a costlier rate of Rs 860. Meanwhile, the cities will see 18k of 100 grams of gold costing Rs 6,82,400 today, up from Rs 6,73,800 yesterday, signifying a more expensive rate of Rs 8,600.

Silver currently costs Rs 114 per gram and Rs 1,14,000 per kilogram in Hyderabad and Chennai. One kilogram of silver will cost Rs 1,14,000 in Hyderabad and Chennai on Friday compared to Rs 1,11,000 on Thursday, marking a 3,000-rupee rise in the price. Ten grams of silver cost Rs 1,140 in the cities on Friday contrasted to Rs 1,110 on Thursday, and 100 grams of silver cost Rs 11,400 today as opposed to Rs 11,100 yesterday.

MCX Gold Outlook Today

"Technically, MCX Gold appears to be in a strong uptrend on the daily timeframe. It formed a small but healthy/bullish candlestick in yesterday's trading session, indicating a continuation of the trend in the upcoming trading session. Support is placed at 87,780 on the daily timeframe and 88,110 on the 1-hour timeframe. Resistance is now at 89,800 on the higher side. One can buy gold with a stop loss of 88,110 on a 1-hour closing basis, targeting 89,700/89,800," said Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Fundamental Outlook 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 concerns about a widening trade war remained front of mind for investors, after President Donald Trump pushed ahead with US tariffs on all auto imports," as per the research analysts of Nirmal Bang Securities Pvt. Ltd.

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.