Gold Rate in Chennai Today: Check Prices for 24k, 22k, and 18k Gold on January 23
Gold prices in Chennai remained stable on January 23, 2025, after a week of significant fluctuations driven by strong market demand. While international gold prices have seen a slight decline, the local market has paused its rally, maintaining steady rates for 24-carat, 22-carat, and 18-carat gold.
Today’s Gold Prices in Chennai
As of January 23, the price of 22-carat gold in Chennai stands at Rs. 75,250 per 10 grams, while 24-carat gold is priced at Rs. 82,090 per 10 grams. The 18-carat gold rate remains stable at Rs. 61,570 per 10 grams. For larger quantities, 100 grams of 24-carat gold costs Rs. 8,20,900, and 100 grams of 22-carat gold is priced at Rs. 7,52,500.
Silver Prices in Chennai
Silver prices in Chennai have also remained unchanged over the past six trading sessions, despite volatility in gold prices. Currently, 1 kilogram of silver is priced at Rs. 1,04,000, while 100 grams of silver costs Rs. 10,400.
Gold Price Movement in the Last Five Days
Gold prices in Chennai have experienced significant volatility over the past five days. Below is a summary of the price movements:
- 22nd January: 24-carat gold at Rs. 82,090 per 10 grams; 22-carat gold at Rs. 75,400 per 10 grams.
- 21st January: 24-carat gold at Rs. 81,230 per 10 grams; 22-carat gold at Rs. 74,500 per 10 grams.
- 20th January: 24-carat gold at Rs. 81,230 per 10 grams; 22-carat gold at Rs. 74,500 per 10 grams.
- 19th January: 24-carat gold at Rs. 81,110 per 10 grams; 22-carat gold at Rs. 74,350 per 10 grams.
- 18th January: 24-carat gold at Rs. 81,110 per 10 grams; 22-carat gold at Rs. 74,350 per 10 grams.
Spot Gold and Silver Rates Update
According to a Reuters report, spot gold prices eased slightly on January 23 after reaching a near three-month high earlier in the week. Spot gold dropped by 0.1% to $2,751.87 per ounce, while U.S. gold futures declined by 0.3% to $2,761.70. Similarly, spot silver fell by 0.5% to $30.63 per ounce. The decline in prices is attributed to a strengthening U.S. dollar and investor anticipation of clearer guidance on future trade policies.
Factors Influencing Gold Prices
Several factors are driving gold prices today, including the rise in U.S. bond yields and the strengthening U.S. dollar. The dollar’s recent gains, supported by an uptick in U.S. Treasury bond yields, have reduced gold’s appeal as a safe-haven asset. Additionally, investors are closely monitoring the Federal Reserve’s potential interest rate hikes, as higher rates could make non-yielding assets like gold less attractive.
Conclusion
Gold prices in Chennai have stabilized after a week of volatility, with 24-carat, 22-carat, and 18-carat gold maintaining steady rates. While international gold prices have seen a slight decline, local market dynamics and global economic factors continue to influence the precious metal’s value. Investors are advised to stay informed about market trends and economic developments to make well-informed decisions.
Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.
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