Gold Price Chennai: Huge Rally In Yellow Metal On Akshaya Tritiya, Check 18, 22k, 24k Prices

The price of gold saw an enormous rise today in honour of Akshaya Tritiya 2024. In Chennai, the price of 22-karat gold is now Rs 6,705 per gramme, while 24-karat gold is priced at Rs 7,315 per gramme. From Rs 6,61,500 yesterday to Rs 6,70,500 today in Chennai, the price of 100 grams of 22K gold climbed by Rs 9,000. The price of 10 grams of 22k gold in Chennai was Rs 67,050, up from Rs 66,150 the previous day, signifying an enormous spike of Rs 900.

The price of 100 grams of 24-carat gold in Chennai today was Rs 7,31,500, up from Rs 7,21,600 yesterday-a difference of Rs 9,900. In Chennai, the cost of ten grams of 24-carat gold went up by Rs 990 to Rs 73,150 today from Rs 72,160 yesterday.

18k of 100 grams of gold cost Rs 5,49,200 in Chennai today; it was just Rs 5,41,900 yesterday, indicating a significant increase of 7,300.

Commenting on the outlook of gold rates Tapan Patel, Fund Manager-commodities, Tata Asset Management said, "Gold prices have witnessed a sharp rally in the month of March 2024 with prices hitting all-time highs in domestic and international markets. Gold prices in India have crossed Rs. 73000 per 10 grams while at COMEX prices have crossed $2400 per ounce mark. We have seen investors cashing out their investment in gold with redemption in instruments like SGB and gold ETFs. However, gold prices may continue to get support from global macro headwinds, central bank buying and geopolitical factors. The US Fed pivot of interest rate cycle may provide a sudden boost to the prices where the market is still bracing for 'higher for longer' rate scenario."

"We believe gold prices are poised for minor correction from current levels while we remain bullish over the medium term on supportive fundamentals with a staggered buying approach. Investors may choose dynamic asset allocation to the gold-related instrument available in the market apart from physical ownership of gold. Long-term investors may look for Sovereign Gold Bonds to take additional advantage of fixed interest on the investment. Investors looking for a medium to short-term investment through staggered or lump sum buying may opt for gold ETFs schemes," Tapan Patel further added.

City Wise Gold Rates In India On Akshaya Tritiya

Chennai: Rs 67,050 (22k), Rs 73,150 (24K), Rs 54,920 (18k)
Mumbai: Rs 67,000 (22k), Rs 73,090 (24k), Rs 54,820 (18k)
Delhi: Rs 67,150 (22k), Rs 73,240 (24k), Rs 54,940 (18k)
Kolkata: Rs 67,0009 (22k), Rs 73,090 (24k), Rs 54,820 (18k)
Bangalore: Rs 67,000 (22k), Rs 73,090 (24), Rs 54,820 (18k)
Hyderabad: Rs 67,000 (22k), Rs 73,090 (24k), Rs 54,820 (18k)
Kerala: Rs 67,000 (22k), Rs 73,090 (24k), Rs 54,820 (18k)
Pune: Rs 67,000 (22k), Rs 73,090 (24k), Rs 54,820 (18k)
Vadodara: Rs 67,050 (22k), Rs 73,140 (24k), Rs 54,860 (18k)
Ahmedabad: Rs 67,050 (22k), Rs 73,140 (24), Rs 54,860 (18k)