Gold Price In Chennai-Hyderabad Today: 24,22K/100 Gms Of Gold Jumps Over Rs 7,000; Silver Up Rs 2,000

The price of gold saw a substantial rise on Tuesday, March 4th in Hyderabad and Chennai, two important Indian cities, amid persistent tariff fears and dollar instability that boost gold as a safe-haven investment. President Donald Trump's tariff policies in the United States raised the appetite for bullion as a safe haven, which in turn supported gold, an asset that is seen to be an investment during times of volatility.

Gold & Silver Price In Hyderabad & Chennai Today

Chennai and Hyderabad's current gold prices are Rs 8,738 per gramme for 24 carat gold, Rs 8,010 per gramme for 22 carat gold, and Rs 6,554 per gramme for 18-carat gold. In contrast, the price of silver is Rs 107 per gramme and Rs 1,07,000 per kilogramme. 22k of 100 grammes of gold will cost Rs 8,01,000 in Hyderabad and Chennai today compared to Rs 7,94,000 yesterday, reflecting a price increase of Rs 7000, while 22k of 10 grammes of gold will cost Rs 80,100 in Hyderabad and Chennai today compared to Rs 79,400 yesterday, marking a price increase of Rs 700.

While 24k of 100 grammes of gold would cost Rs 8,73,800 in Hyderabad and Chennai today compared to Rs 8,66,200 yesterday, reflecting a price increase of Rs 7,600, 24k of 10 grammes of gold in Hyderabad and Chennai on Tuesday reached Rs 87,380 compared to Rs 86,620 on Monday, showing a price surge of Rs 760.

While 18k of 100 grammes of gold reached Rs 6,55,400 in Hyderabad and Chennai today compared to Rs 6,49,700 yesterday, reflecting a price spike of Rs 5,700, 18k of 10 grammes of gold would cost Rs 65,540 in Chennai and Hyderabad on Tuesday compared to Rs 64,970 on Monday.

Ten grammes of silver will now cost Rs 1,070 in Hyderabad and Chennai, up from Rs 1,050 yesterday; 100 grammes of gold will cost Rs 10,700 on Tuesday, up from Rs 10,500 on Monday; and one kilogramme of silver will cost Rs 1,07,000 today, up from Rs 1,05,000 yesterday, marking a 2,000 rupee price increase.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold managed to sustain above the crucial 85000 mark and posted a bullish candle on the daily chart. The commodity has developed a threedrive pattern on the daily timeframe, with a market shift indicating exhaustion in buying momentum over the past three weeks. Currently, MCX Gold is hovering around a crucial supply zone, and any weakness on the hourly or four-hour chart could trigger profit booking in the near term. On the downside, support is observed at 85150/84800, with a breakdown below 84800 potentially extending the decline toward 84420/84000 levels. However, if MCX Gold manages to sustain above 8565085900 range then it could lead towards 86200/86700 levels," as per Jebaris Nadar - Research Associate at Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold prices are steady after an advance when President Donald Trump confirmed he would impose tariffs on trading partners, deepening concerns about the outlook for the global economy and sparking haven buying," Nirmal Bang Securities stated in a report.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.