Gold Rates Today Crash: Gold Rates Fall In Chennai, Gold In Hyderabad Flat; 24K, 22K, 18K Gold Prices

Gold rates in most of the cities of India are unchanged on February 10, compared to previous day. However, this was not the case with gold rates in Chennai. Where 24 carat and 22 carat gold prices plunged significantly up to Rs 7,600 in Chennai, the prices of gold in 18 carat surged. Despite this, gold rates in Chennai is still expensive compared to its neighbouring major metro cities like Hyderabad.

The movement in gold rates in India came in despite weak global cues that pushed gold and silver futures at MCX under pressure. That being said, precious metals have halted their gaining spree of two consecutive days.

What Is Impacting Gold Prices Globally?

As per Trading Economics data, gold prices pulled back on Tuesday as investors booked profits after prices climbed to an over one-week high in the previous session. Market attention has now shifted to key US economic releases, particularly the nonfarm payrolls report and inflation data, which could shape the Federal Reserve's rate path.

The data further added, markets are currently pricing in at least two rate cuts this year, keeping expectations for easier monetary policy broadly supportive for bullion. Official-sector demand also remains strong, with China's central bank extending its gold purchases for a fifteenth consecutive month in January. Additionally, geopolitical risks continue to underpin safe-haven demand. Tensions between the US and Iran persist despite signs of progress in recent talks, with Washington warning US-flagged vessels to stay away from Iranian waters.

Gold Rates In India:

Gold Rates In Chennai:

24 carat gold price in 10 grams dipped by Rs 760 to Rs 1,59,060, while 100 grams gold plunged the most by Rs 7,600 to Rs 15,90,000. Also, 8 grams gold price in 24 carat corrected lower by Rs 608 to Rs 1,27,248 and 1 gram gold inched lower by Rs 76 to Rs 15,906.

Similarly, 22 carat gold prices plunged by Rs 700 to Rs 1,45,800 per 10 grams, but nosedived by a steep Rs 7,000 to Rs 14,58,000 per 100 grams. Additionally, 8 grams and 1 gram gold price here stood at Rs 1,16,640 and Rs 14,580, registering a downside of Rs 560 and Rs 70 respectively compared to the previous day.

On the other hand, 18 carat gold prices witnessed marginally upside on February 10. In this carat, 10 grams gold is up by Rs 100 to Rs 1,25,300 in Chennai, while 100 grams gold price stood at Rs 12,53,000 which was up by Rs 1,000. Furthermore, 8 grams and 1 gram gold prices edged higher by Rs 80 and Rs 10 to Rs 1,00,240 and Rs 12,530 respectively.

Gold Rates In Hyderabad:

Gold prices in this city were unchanged on February 10. Accordingly, 24 carat gold rates stood at Rs 1,57,910 per 10 grams, at Rs 15,79,100 per 100 grams, at Rs 1,26,328 per 8 grams and at Rs 15,791 per 1 gram.

Furthermore, 22 carat gold rates were at Rs 1,44,750 per 10 grams, at Rs 14,47,500 per 100 grams, at Rs 1,15,800 per 8 grams, and at Rs 14,475 per 1 gram.

Under 18 carats, gold price was at Rs 1,18,440 per 10 grams, while 100 grams gold stood at Rs 11,84,400, 8 grams at Rs 94,752 and 1 gram at Rs 11,844.

Gold Rates In India Prediction:

As per Ponmudi R, CEO of Enrich Money, here is the outlook for gold rates in international market and MCX which will impact gold rates in India as well:

Spot Gold Price Outlook

COMEX Gold is trading near the $4,900-$5,100 zone after a sharp correction from recent highs above $5,500-$5,600. The broader uptrend remains intact, with the recent pullback reflecting profit booking and healthy price digestion.

Prices continue to trade above key moving averages, suggesting the correction is maturing. Strong buying interest is visible in the $4,500-$4,700 support band, and sustained stability above this zone could set the stage for renewed upside momentum. A breakout above $5,200-$5,300 would open the path toward a retest of record highs.

MCX Gold Price Outlook

MCX Gold futures are trading near the Rs1,55,000-Rs1,60,000 zone, following consolidation after the sharp correction from all-time highs around Rs1,80,000-Rs1,81,000. The broader uptrend structure remains supportive, with prices holding above important long-term support zones. Strong buying interest is seen in the Rs1,45,000-Rs1,50,000 support area.

A sustained hold above this base, followed by a breakout above Rs1,60,000, could revive upside momentum toward Rs1,65,000-Rs1,75,000, keeping the medium-term outlook positive despite ongoing volatility.

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