Gold Rate Today Nosedives By Rs. 14,700/100g In Chennai & Hyderabad on Aug 31;Check 24k,22k,18k Gold Prices

The gold rate today in Chennai & Hyderabad experienced a massive crash on Monday morning. The 22K gold price dropped by Rs. 14,700 per 100 grams to 1470 per 10 grams of the yellow metal, providing major relief to jewellery buyers ahead of the festive & the wedding season.

Over the last 7 days the gold rate in India has dropped by more than 4.3% hence Gold prices in big metro cities like Chennai & Hyderabad are now available at lower rates, which comes as good news for people planning to buy jewellery before prices rise again.

On the MCX front, both gold and silver prices declined heavily in early trade on Monday morning. Gold futures fell 1.31%, while silver futures plunged 0.76%.

Meanwhile, spot gold fell sharply after Fed chair Kevin Warsh's hawking remark at his Jackson Hole address on Friday. According to Trading Economics, spot gold was down 0.46% at $432.49 per ounce at teatime of writing.

Gold prices in Chennai Today

Gold rates in Chennai today for 10 grams of 22 karat gold are currently at Rs. 1,43,700 after sliding by Rs.1350 per 10 grams. The 24-carat gold rates in Chennai also dropped by Rs.1470 per 10 grams to cost Rs. 1,56,770. The cheaper variant, or the 18-carat gold, now costs Rs. 1,17,850 which fell by Rs.830 per 10 grams.

100 grams of 24-carat gold rates in Chennai are now at Rs. 15,67,700 after declining by Rs.14,700 while the 22-carat gold in Chennai slipped by Rs. 13,500 to cost Rs. 14,37,000.

Gold prices in Hyderabad Today

As of today, the 22-carat gold price in Hyderabad for 10 grams fell by Rs. 1000 bringing it to Rs. 1,49,500. The 24-carat gold rate in Hyderabad also corrected, decreasing by Rs. 1090 per 10 grams to stand at Rs. 1,63,090. Similarly, 18-carat gold experienced a big decline today, falling by Rs. 1000 per 10 grams to reach Rs. 1,24,700.

Gold & Silver Crash on MCX

On the Multi Commodity Exchange, both precious metals remained under heavy selling pressure on Monday morning. MCX Gold October 5th futures fell by Rs.1854 or 1.19% to trade at Rs. 1,54,427 per 10 grams. Meanwhile, MCX Silver September 4th futures crashed Rs.1304 or 0.55% % to Rs. 2,53,153 per Kg.

According to Kedia Advisory's latest bullion report, "Gold trading range for the day is 153300-161850. traders can consider a Sell call on MCX Gold October futures at Rs. 1,57,000, with a stop-loss at Rs /1,58,200 and targets of Rs .1,56,500 and ₹1,55,500. Gold prices declined as traders increased bets on an interest-rate hike following Fed Chair Kevin Warsh's remarks on curbing inflationary pressure, with Warsh saying forward guidance should play a limited role. Meanwhile, revised US employment data showed the economy added 79,000 fewer jobs in the 12 months through March 2026 than previously estimated. In India, gold discounts widened to their deepest level in three months as demand weakened sharply."

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