Rs 34,000 Hike In Gold Rates Of Chennai Today; 24K, 22K, 18K Gold Prices On 12-06-2026; Reason Why?

Gold rates in Chennai witnessed the biggest hike of June 12th by nearly Rs 34,000 in 24 carat of 100 grams. Other carats such as 22 carat and 18 carat gold rose by the highest Rs 24,000 and Rs 30,000 per 100 grams. Gold price crossed the Rs 1.50 lakh per 10 grams mark in Chennai, making the yellow metal in this city more expensive compared to other cities like Hyderabad, Kerala, Bengaluru, Mumbai and Kolkata, among others.

Broadly, gold rates climbed today due to a positive trend in the global bullion market. Spot gold climbed above $4,200 per ounce before correcting mildly. This is due to hope of a peace deal between US and Iran as inflationary pressures and rate hike trajectories keep investors on the edge. In the previous session, overnight, spot gold rebounded over 3%.

Gold Rates In Chennai:

100 grams gold price skyrocketed by Rs 32,700 to Rs 15,05,500 in 24 carat, while price rallied by Rs 30,000 to Rs 13.80 lakh in 22 carat, and jumped by Rs 24,000 to Rs 11.55 lakh in 18 carat.

Meanwhile, 10 grams gold rates jumped by Rs 3,270 to Rs 1,50,550 in 24 carat, rose by Rs 3,000 to Rs 1,38,000 in 22 carat and climbed by Rs 2,400 to Rs 1,15,500 in 18 carat.

Additionally, 8 grams gold price in Chennai jumped by Rs 2,616 to Rs 1,20,440 in 24 carat, advanced by Rs 2,400 to Rs 1,10,400 in 22 carat and is higher by Rs 1,920 to Rs 92,400 in 18 carat.

Lastly, 1 gram gold price gained by Rs 327 to Rs 15,055 in 24 carat, is higher by Rs 300 to Rs 13,800 in 22 carat and up by Rs 240 to Rs 11,550 in 18 carat.

Reason Behind Gold Prices Rally Today?

President Donald Trump said a deal with Iran could be reached as early as this weekend after postponing planned attacks and warning that the US could target the country's oil infrastructure. Iran's semi-official Fars news agency also reported that Tehran was likely to accept the agreement, although no final text has been approved. Meanwhile, the ECB raised interest rates on Thursday for the first time since 2023 and lifted its inflation forecasts for 2026 and 2027. Data also showed US producer prices climbed 6.5% year-on-year in May, highlighting the inflationary effects of the Middle East energy shock and reinforcing expectations of a Federal Reserve rate increase this year, as per Trading Economics.

However, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, as long as crude prices remain elevated, inflation concerns and expectations of a tighter interest rate environment are likely to keep pressure on bullion sentiment.

He added, "Overall, profit booking continues to be visible in gold, and the market remains sensitive to movements in crude oil, the rupee, and broader macroeconomic developments."

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