Biggest Crash Today Is In Gold Rates Of Chennai; 100/Gms Fall By Rs 14,200, Silver Tanks; 24K, 22K, 18K Gold

Gold rates in India are down again on April 7, however, the biggest crash is seen in gold prices of Chennai. In the city, 100 grams gold price has dropped by Rs 14,200 and 10 grams gold is down by Rs 1,420 in 24 carat, compared to over Rs 8,000 and Rs 800 fall in other cities. Meanwhile, silver rates have also slipped in the city. Notably, the price movement has taken a hit due to weak global cues as stronger-than-expected US job data reinforces expectations of restriction in interest rates by US Federal Reserve.

Gold Rates In Chennai:

24 carat gold price stood at Rs 1,51,000 per 10 grams, which is down by Rs 1,420. Meanwhile, 100 grams gold price dropped by Rs 14,200 to Rs 15,12,000. Further, 8 grams and 1 gram gold slipped by Rs 1,136 and Rs 142 to Rs 1,20,960 and Rs 15,120 respectively.

Furthermore, 22 carat gold rates plunged by Rs 13,000 to Rs 13,86,000 per 100 grams and further declined by Rs 1,300 to Rs 1,38,600 per 10 grams. Also, 8 grams gold is down by Rs 1,040 to Rs 1,10,880 and 1 gram gold is lower by Rs 130 to Rs 13,860.

Additionally, in case of 18 carat, 10 grams gold in Chennai dropped by Rs 1,100 to Rs 1,15,600 and 100 grams gold nosedived by Rs 11,000 to Rs 11,56,000. Lastly, 8 grams and 1 gram gold is lower by Rs 880 and Rs 110 to Rs 92,480 and Rs 11,560.

Silver Rates In Chennai:

Silver rate slipped by Rs 5,000 to Rs 2,55,000 per 1Kg, while it plunged by Rs 500 in 100 grams to Rs 25,500. 10 grams silver is down by Rs 50 to RS 2,550. Also, 8 gram silver is lower by Rs 40 to Rs 2,040 and 1 gram silver is down by Rs 5 to Rs 255.

Why Gold & Silver Rates Are Falling?

According to Ponmudi R, CEO of Enrich Money, the ongoing war, now in its sixth week since February 28, 2026, continues to keep markets on edge. While there have been no fresh large-scale escalations in the last few hours, tensions remain extremely high ahead of US President Donald Trump's extended deadline, which falls early morning IST on April 8. Markets are clearly in a wait-and-watch mode, reacting to every headline.

For gold, the expert said, gold is not behaving like a strong safe-haven asset at current levels.

He said, CcMEX Gold is trading in the $4,650-$4,700 range, but the key observation is the lack of strong upside despite heightened geopolitical tension. This indicates underlying weakness in the structure. A sustained move above $4,750 could push prices toward $4,800-$4,900. However, a break below $4,600 may accelerate selling pressure toward $4,500 and $4,400.

Meanwhile, MCX Gold is hovering around Rs 1,49,000- Rs 1,50,000, with clear signs of selling at higher levels. The inability to sustain rallies indicates fading strength. A move above Rs 1,50,000 can revive momentum toward Rs 1,52,000-Rs 1,55,000. On the downside, a break below Rs 1,47,000 could lead to extended weakness toward Rs 1,45,000-Rs 1,40,000. The bias remains cautious, driven by macro uncertainty.

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