Gold Rates Crash By Rs 8,200 In Bengaluru, Hyderabad, But Up In Chennai On Pongal; 24K, 22K, 18K Gold Prices

Gold rates in India crashed after nearly six-consecutive days record rally. However, in cities like Bengaluru and Hyderabad, 10 grams and 100 grams of 24 carat dropped by Rs 820 and Rs 8,200 respectively. But this was not the case in Chennai, where gold prices extended their rising spree to hit yet another all-time high. Gold prices are expected to see a volatile movement ahead with near-term outlook between Rs 1,41,000 to Rs 1,45,500.

Gold Rates In Bengaluru + Gold Rates In Hyderabad:

The prices of gold and its movement is similar in Bengaluru and Hyderabad. That being said, on January 15, where majority of Indians are celebrating Pongal and Makar Sankranti, gold price dropped by Rs 8,200 to Rs 14,31,800 per 100 grams in 24 carat. The price of 10 grams gold in 24 carat dipped by Rs 820 to Rs 1,43,800. While gold prices in 8 grams and 1 gram of 24 carat also declined by Rs 656 and Rs 82 to Rs 1,14,544 and Rs 14,318 respectively.

Coming to 22 carat, 10 grams and 100 grams gold prices slipped by Rs 7,500 and Rs 750 to Rs 13,12,500 and Rs 1,31,250 respectively in the two cities. In the same carat, 8 grams and 1 gram gold was lower by Rs 600 and Rs 75 to Rs 1,05,000 and Rs 13,125 respectively.

Under 18 carat, 10 grams gold is down by Rs 610 to Rs 1,07,390 and 100 grams gold dropped by Rs 6,100 to Rs 10,73,900. Further, 8 grams and 1 gram gold prices edged lower by Rs 488 and Rs 61 to Rs 85,912 and Rs 10,739 respectively.

This comes after gold prices continued to rise from January 9th to 14th. Prior to the decline, 100 grams gold price was up by Rs 14,700 in 24 carat on January 14, followed by Rs 3,800 and Rs 16,900 surge on January 13th and January 12th. Gold prices were unchanged on January 11th. But were up by Rs 11,500 and Rs 13,100 on January 10th and January 9th.

10 grams gold price touched its highest level of Rs 1,44,000 on January 14th. Despite the latest decline, gold is up by 6% across carats in January so far.

Gold Rates In Chennai:

Unlike Bengaluru and Hyderabad, gold prices were up in Chennai. On January 15, 10 grams and 100 grams gold prices in 24 carat surged by Rs 100 and Rs 1,000 to hit new all-time highs of Rs 1,44,980 and Rs 14,49,800 respectively. In the same carat, 8 grams and 1 gram gold prices edged higher by Rs 80 and Rs 10 to Rs 1,15, 984 and Rs 14,498 respectively.

In case of 22 carat and 18 carat, 10 grams and 100 grams gold prices also surged by Rs 100 and Rs 1,000 each. While 8 grams was up by Rs 80 and 1 gram up by Rs 10.

Thereby, 22 carat gold price stood at Rs 1,32,900 per 10 grams, at Rs 13,29,000 per 100 grams, at Rs 1,06,320 per 8 grams and Rs 13,290 per 1 gram.

Also, 18 carat gold price stood at Rs 1,10,900 per 10 grams, at Rs 11,09,900 per 100 grams, at Rs 88,720 per 8 grams and Rs 11,090 per 1 gram.

Gold in Chennai is currently at new all-time highs.

What Is Impacting Gold Prices?

As per Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures, gold is moving up higher from the previous day's levels, touching new record peaks driven by safe-haven buying and a season of festivals.

He added, the rally reflects renewed investor confidence amid global uncertainty, even as some profit-booking emerges. Since gold is still in focus at current higher levels, the upcoming days look promising, and gold is expected to remain steady without any drastic world events.

Gold Prices Prediction:

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, gold traded with strong positive momentum as geopolitical uncertainty resurfaced after peace talks between the U.S. and Iran were reportedly cancelled, reviving safe-haven demand. MCX gold gained nearly ₹1,000 to trade around ₹1,43,300, while Comex gold rose $48 to $4,635.

Looking ahead, he said, "the underlying trend remains firmly positive amid elevated global risk sentiment, with gold expected to stay volatile within a higher range of ₹1,41,000-₹1,45,500 in the near term."

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