BIG Jump in Gold Rates Today in Chennai, Hyderabad: 24K Rallies Up to Rs 25,000/100 gm in a Day | May 6 Rates

BIG Jump In Gold Rate Today in Chennai, Hyderabad: The price of 24 karat, 22 karat and 18 karat gold in Chennai and Hyderabad saw a massive jump on Wednesday, May 6. The gold price today reversed its trend as the international bullion market regained strength amid geopolitical developments.

The sharp revival in Chennai and Hyderabad gold rates today has diminished the hopes of further correction in the precious metal. As gold jewellery buyers closely track gold and silver price movements on a daily basis, here are all the details to know.

Chennai Gold Rate Today

The price of 24 karat gold in Chennai increased by Rs 251 per gram to Rs 15,328 per gram on Wednesday, May 6, as per Goodreturns data at 12:15 pm. The rate of 22 karat gold in Chennai surged by Rs 230 per gram to Rs 14,050 per gram. The 18 karat gold rate in Chennai today rallied by Rs 190 per gram to Rs 11,720 per gram.

Chennai Silver Rate Today

The price of silver in Chennai also saw an upward trend. Chennai silver rate today increased to Rs 270 per gram and to Rs 2,70,000 per kilogram.

Hyderabad Gold Rate Today

The price of 24 karat gold in Hyderabad jumped by Rs 213 per gram to Rs 15,131 per gram on Wednesday, as per Goodreturns data at 12:15 pm. The rate of 22 karat gold in Hyderabad skyrocketed by Rs 195 per gram to Rs 13,870 per gram. Likewise, the price of 18 karat gold in Hyderabad also saw an uptick of Rs 159 per gram and was priced at Rs 11,348 per gram.

Hyderabad Silver Rate Today

The price of silver in Hyderabad also increased on Wednesday. Silver rate today in Hyderabad jumped to Rs 270 per gram and to Rs 2,70,000 per kilogram on Wednesday.

Why Are Gold Prices Rising?

"Gold and silver prices surged today, driven by a weaker dollar and easing crude oil prices amid speculation around potential US-Iran peace talks. Internationally, gold is trading at $4,666.00 per ounce, translating to approximately ₹1,42,542 per 10 grams, while silver has jumped to $76.17 per ounce, or around ₹2,32,676 per kg. The recent decline in crude oil prices, now at $100.50 per barrel (about ₹9,549), has alleviated some inflationary pressures, prompting investors to flock to safe-haven assets like gold and silver," explained Gaurav Garg, research analyst at Lemonn markets desk.