Gold Rates Crash Most In Chennai In Past 10 Days, Gold Drops In Hyderabad; 24K, 22K, 18K Gold Prices On Feb-8

Gold rates in India has declined by double-digit in past ten days from their pivotal all-time highs. However, the crash in gold prices has been more severe in Chennai who enjoyed above Rs 1.83 lakh levels last week. Its neighbouring city, Hyderabad, also faced significant correction in gold prices. Despite this, gold in Chennai is expensive than compared to gold in Hyderabad. The near term outlook of gold remains volatile and this is likely to impact 24 carat, 22 carat and 18 carat gold prices in the two cities.

Gold Rates In Chennai:

Just two days before Janaury month could end, 10 grams gold rate touched a new all-time high in Chennai to Rs 1,83,280 in 24 carat and Rs 1,68,000 in 22 carat on January 29. This was a new historical level in gold rates and also most expensive compared to other cities. However, right after hitting its glorious ever mark, gold rates changed tides and entered into a bearish and selling pressure.

Time skip to now, gold in Chennai is struggling around Rs 1.57 lakh mark in 24 carat and Rs 1.44 lakh zone in 22 carat. From its peak level, gold has dropped by 14% to 15% from January 30th to February 8, 2026. In February month so far, the decline is over 3.22%.

That being said, here's the latest gold rates in Chennai. The prices are unchanged on Sunday.

On February 8, 10 grams gold price is at Rs 1,57,310 in 24 carat, at Rs 1,44,200 in 22 carat and at Rs 1,23,500 in 18 carat. Gold stood at Rs 15,73,100 per 100 grams in 24 carat, while the same gram was at Rs 14,42,000 in 22 carat and at Rs 12,35,000 in 18 carat.

The price of lowest gram in Chennai is at Rs 15,731 per gram for 24 karat gold, Rs 14,420 per gram for 22 karat gold and Rs 12,350 per gram for 18 karat gold (also called 999 gold).

Gold Rates In Hyderabad:

Unlike Chennai, gold is down by over 12% to 13% in the past 10 days from their peak levels of Rs 1,78,850 in 24 carat and Rs 1,63,950 in 22 carat which was recorded on January 29. In eight days of February, gold is down by 2.5% across carats.

Now, 10 grams gold price stood at Rs 1,56,600 in 24 carat, at Rs 1,43,550 in 22 carat, and at Rs 1,17,450 in 18 carat. Meanwhile, 100 grams gold price in Hyderabad is at Rs 15,66,000 in 24 carat, at Rs 14,35,500 in 22 carat and at Rs 11,74,500 in 18 carat. The price of cheapest gold in Hyderabad is at Rs 15,660 per gram for 24 karat gold, at Rs 14,355 per gram for 22 karat gold and at Rs 11,745 per gram for 18 karat gold (also called 999 gold).

Gold Prices Prediction Ahead:

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, last week, gold opened weak near Rs 1,49,250 but quickly gained momentum, rebounding towards Rs 1,54,000 as CME Gold surged back above $4,900, supporting the recovery in MCX.

Going ahead, Trivedi added, although major U.S. data releases this week have kept sentiment slightly cautious, prices continue to find strong support near $4,800 on CME and around Rs 1,49,000 on MCX. Immediate resistance is now seen near $4,925 and Rs 1,55,000, with volatility likely to persist around key data triggers.

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