Gold Price In Chennai On August 15: Check Prices Of 24K, 22K, 18K; 1 Kg Silver Gets Expensive By Rs 500

Gold prices in Chennai stayed steady with 24K in 10 grams priced at Rs 71,510, and 22K in the same at Rs 65,550 on August 15. However, this was not the case with silver prices which rose sharply on the occasion of the 78th Independence Day. The performance is also ahead of auspicious Shravana Putrada Ekadashi which will be celebrated on August 16.

Prime Minister Narendra Modi is leading the nation on the historic Red Fort in Delhi on August 15, 2024, as India celebrates its 78th Independence Day which commemorates the country's freedom from the United Kingdom on this day in 1947.

Also referred to as Pavitropana Ekadashi and Pavitra Ekadashi, the Shravana Putrada Ekadashi is a holy day for Hindus. As per Wikipedia, this Ekadashi falls on the 11th lunar day of the fortnight of the waxing moon in the Hindu month of Shravana which in the Gregorian calendar falls in July or August. This year, the auspicious day is falling on August 16.

Demand for gold and silver is likely to be buzzing in retail stores across cities owing to the two occasions. In the southern city, of Chennai, silver prices are higher than in many other metro cities, while gold prices are firm.

Gold Price In Chennai:

24K Gold Prices: 100 grams of gold is available at Rs 7,15,100 in Chennai on August 15, followed by 10 grams at Rs 71,510, 8 grams at Rs 57,208, and 1 gram at Rs 7,151.

22K Gold Prices: Meanwhile, 100 grams of yellow metal is available at Rs 6,55,500 on this day, whereas, smaller grams like 10 grams are priced at Rs 65,550, 8 grams is at Rs 52,440, and 1 gram is at Rs 6,555.

18K Gold Prices: In the lowest carat, 100 grams is available at Rs 5,36,300, while 10 grams is priced at Rs 53,630. Moreover, 8 grams is available at Rs 42,904, while 1 gram is at Rs 5,363 which is the cheapest price.

The latest gold performance comes after international prices slipped as hopes for a rate cut dulled after the latest US inflation data.

As per Reuters, Gold prices fell in a volatile trade on Wednesday after data showed U.S. consumer prices rebounded as expected in July, pouring water on expectations for a sizeable rate cut from the Federal Reserve next month. Spot gold fell 0.4% to $2,455.91 per ounce by 1338 GMT. U.S. gold futures slipped 0.5% to $2,494.50.

US consumer price index (CPI) inflation increased by a modest 2.9% annually in July. This marks a slight deceleration from June's 3.0% rate.

Average Gold Prices In Chennai:

The average 10-day gold rate is at Rs 7,041 for 24K in 1 gram, while the rate is at Rs 6,454 for 22K in 1 gram.

The 30-day average gold rate is at Rs 6,534 in 22K and Rs 7,128 in 24K.

Silver Prices In Chennai:

Unlike gold, silver prices shot up on August 15. 1 kg silver rose by Rs 500 to Rs 88,500, while 100 grams silver is up by Rs 50 to Rs 8,850. Also, 10 grams of silver is available at Rs 885, up by Rs 5.

Further, 8 grams and 1 gram of silver edged higher by Rs 4 and Rs 0.50 to Rs 708 and Rs 88.50 respectively.