Gold Rates At Meteoric High On January 6: 24K, 22K, 18K Gold Prices In Chennai Vs Hyderabad

Gold rates in India continued on its rising momentum on January 6. The price of 10 grams of gold is rallying towards Rs 1.40 lakh mark in 24 carat, while the same is nearing Rs 1.30 lakh mark in 22 carat in majority of cities. However, gold in Chennai has seen a tremendous surge for the past five days including Tuesday, with 100 grams and 10 grams gold price seeing Rs 38,300 and Rs 3,830 upside in 24 carat. This is better than gold prices in Hyderabad. The latest surge in this safe-haven is driven by structural demand rather than short-term speculative activity. Also, the current geopolitical tension in Latin America, between the US and Venezuela, has restored further bullish sentiment for gold.

Gold Rates In India:

Gold Rates In Chennai:

24 carat gold price climbed by Rs 7,700 to Rs 13,99,700 per 100 grams on January 6, while 10 grams gold climbed by Rs 770 to Rs 1,39,970. Also, 8 grams and 1 gram gold edged higher by Rs 616 and Rs 77 to Rs 1,11,976 and Rs 13,997 respectively.

Further, in case of 22 carat, gold price soared by Rs 7,000 to Rs 12,83,000 per 100 grams and climbed by Rs 700 to Rs 1,28,300 per 10 grams. The 8 grams gold in 22 carat is up by Rs 560 to Rs 1,02,640 and 1 gram gold is up by Rs 70 to Rs 12,830.

Additionally, in case of 18 carat, 100 grams gold price soared by Rs 5,000 to Rs 10,70,000 and 10 grams gold is up by Rs 500 to Rs 1,07,000. Moreover, 8 grams and 1 gram gold edged higher by Rs 400 and Rs 50 to Rs 85,600 and Rs 10,700 respectively.

Gold in Chennai has continued to rally for the past five days. For instance, 100 grams gold price surged by Rs 17,400 in 24 carat on January 5, followed by Rs 2,200 and Rs 11,000 upside on January 3rd and 2nd. This gold price was unchanged on January 4.

From January 2nd to January 6th, 100 grams and 10 grams gold has climbed by Rs 38,300 and Rs 3,830 in 24 carat.

Additionally, 22 carat gold price surged by Rs 5,500 to Rs 12,72,500 per 100 grams, followed by Rs 550 upside in 10 grams to Rs 1,27,250. Moreover, 8 grams and 1 gram gold price is at Rs 1,01,800 and Rs 12,725, rising by Rs 440 and Rs 55 on Tuesday.

Furthermore, under 18 carat, 100 grams gold price is at Rs 10,41,200, up by Rs 4,500. Here, 10 grams gold is up by Rs 450 to Rs 1,04,120, 8 grams is up by Rs 360 to Rs 83,296 and 1 gram gold is up by Rs 45 to Rs 10,412.

Unlike Chennai, gold price in Hyderabad stayed mostly volatile in the start of January. Prior to January 6th, 24 carat gold price surged by Rs 24,000 per 100 grams on January 5th, but was unchanged on January 4th and dropped by Rs 3,800 on January 3rd. Notably, this gold saw an upside of Rs 11,400 on January 2nd and was also up by Rs 1,700 on January 1st.

What is impacting gold?

According to Ponmudi R, CEO of Enrich Money, the ongoing up-move in gold and silver is being driven by structural demand rather than short-term speculative activity. Sustained central-bank gold purchases, elevated geopolitical uncertainty, and expectations of global monetary easing continue to reinforce gold's role as a core portfolio hedge. Silver adds an additional layer of support through robust industrial demand, led by solar energy, electric vehicles, AI infrastructure, and broader electrification themes, resulting in persistent supply tightness. Any pullbacks so far appear corrective in nature, signalling a healthy and well-supported trend.

As long as real yields remain contained and global liquidity conditions stay accommodative, gold is likely to remain a portfolio anchor, while silver offers higher-beta upside within the ongoing bullion cycle.

Gold Prices Prediction:

As per Ponmudi, here are the outlook for gold in India and global market that will sway prices at retail stores as well.

Spot Gold Price Outlook

COMEX Gold remains firmly bullish, trading near $4,460-$4,480 after a clean breakout above prior resistance. The earlier consolidation zone of $4,330-$4,370 has now turned into a strong support base. Prices continue to hold above the 20-day EMA near $4,354, reinforcing dip-buying interest. A sustained move above $4,485 opens the path toward $4,500-$4,550+.

MCX Gold Price Outlook

MCX Gold continues to print higher highs and higher lows, trading close to lifetime highs around Rs 1,38,400. A decisive breakout above Rs 1,38,500 could accelerate the move toward Rs 1,40,000- Rs 1,45,000, while Rs 1,34,000- Rs 1,36,000 remains a strong buy-on-dips zone.

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