Gold Prices Chennai: Yellow Metal Prices Remain Volatile Through November; 24K/10g Gold At Rs 7,729

The bullion market is currently experiencing notable fluctuations. Throughout November, gold prices have seen a steady decline, dropping over two percent. This trend is favourable for those purchasing gold during the wedding season, which has just commenced. In October, both gold and silver prices had surged by approximately six percent. In Chennai, there is a noticeable dip in both gold and silver prices.

On November 12, Chennai's gold market saw a decrease in both gold and silver prices. The price for 22 karat gold is now ₹7,085 per gram, while 24 karat gold is priced at ₹7,729 per gram. However, the futures market shows mixed trends for these metals.

In Chennai, the capital of Tamil Nadu, gold prices have decreased significantly. The price of 10 grams of 22 karat gold has dropped by ₹1,350 to ₹70,850 from ₹72,200 the previous day. Similarly, the price for 100 grams has decreased by ₹13,500 to ₹708,500.

The cost of 24 karat gold has also reduced by ₹1,470 per 10 grams, now trading at ₹77,290 compared to ₹78,760 yesterday. The price for 100 grams has similarly fallen by ₹14,700 to ₹772,900. Meanwhile, the rate for 18 karat gold has decreased by ₹1,100 today in Chennai.

In Jaipur and New Delhi, the price of 22 karat gold stands at ₹7,100 per gram and for 24 karat at ₹7,744 per gram. Bengaluru shares similar rates with Chennai at ₹7,085 per gram for 22 karat and ₹7,729 for 24 karat. Lucknow also mirrors Jaipur's pricing.

Gold-Silver Rates on MCX

The domestic futures market is seeing an increase in both gold and silver prices today on Tuesday. Early trading on the Multi Commodity Exchange (MCX) shows gold prices near ₹75,370 per 10 grams.

This ongoing correction in prices offers a timely opportunity for buyers during the wedding season. As markets adjust to these changes, consumers can benefit from lower costs in various regions across India.