Biggest Cut In Gold Rates In Chennai, Crashes By Rs 76,300 In 2 Days; 24K, 22K, 18K Gold Prices On 11-06-2026

Gold rates in Chennai witnessed the steepest cut on June 11th, with 24 carat gold crashing by Rs 32,700 in 100 grams and dropping by Rs 3,270 in 10 grams today. The reason is the firmer dollar which is trading around a 2-month high due to uncertainty surrounding Middle East conflict. Gold in Chennai has been under pressure broadly in June and has tumbled by nearly 7% across carats so far.

Gold Rates In Chennai Today:

24 carat gold rate dropped by Rs 32,700 to Rs 14,72,800 per 100 grams, while 10 grams gold plunged by Rs 3,270 to Rs 1,47,280 per 10 grams. Furthermore, 22 carat gold tumbled by Rs 30,000 to Rs 13.50 lakh and 10 grams gold declined by Rs 3,000 to Rs 1.35 lakh. Under 18 carat, 100 grams gold plummeted by Rs 26,000 to Rs 11.31 lakh per 100 grams and slide by Rs 2,600 to Rs 1,13,100 per 10 grams.

The 8 grams gold price slipped by Rs 2,616 to Rs 1,17,824 in 24 carat, dipped by Rs 2,400 to Rs 1,08,000 in 22 carat and decreased by Rs 2,080 to Rs 90,480 in 18 carat.

Today, the cheapest gold rate is at Rs 14,728 per gram for 24 karat gold (99.9% purity), Rs 13,500 per gram for 22 karat gold (91.6% purity), and Rs 11,310 per gram for 18 karat gold. 1 gram gold is down by Rs 260 to Rs 327.

Yesterday, 24 carat gold price dropped by Rs 43,600 in 100 grams and slipped by Rs 4,3600 in 10 grams. Accordingly, gold here nosedived by Rs 76,300 in 100 grams and Rs 7,630 in 10 grams from June 10th to June 11th.

What Is Impacting Gold Rates In India?

As per Kaynat Chainwala, AVP Commodity Research, Kotak Securities, the selloff followed the U.S. inflation print for May, which accelerated to 4.2% year-on-year, the highest since April 2023, driven primarily by an energy-led cost surge tied to the ongoing Iran conflict. This inflation spike has cemented expectations for a Fed hold at the June 16-17 FOMC meeting while boosting odds of a 25-basis-point hike by December to over 60%, up from nearly 50% earlier.

Also, the combination of firmer inflation and rising real yields keeps the Fed on guard, while the associated dollar strength raises the opportunity cost of holding bullion further though persistent central bank buying provides underlying support.

He added, gold's trajectory will hinge on the FOMC outcome, particularly the updated dot plot and policy guidance for rate outlook and any hawkish tilt by the new Fed Chair could add to downise pressure on Bullion. Any fresh escalation or de-escalation signals from the West Asia conflict will remain in focus, with volatility expected as markets digest inflation data and geopolitical developments simultaneously. Currently, spot gold and silver are trading higher, erasing earlier losses, as some of the initial panic-selling reverses.

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