Gold Rates Today Crashes Too! Gold Drops Rs 20,700/100 Grams; 24K, 22K, 18K Gold Prices In Chennai, Hyderabad

Gold rates in India continued to fall sharply on February 12 as well, tracking weak global cues. One of the main reason to why sentiments turned bearish for bullion is the lower possibility of a rate cut in June policy from US Federal Reserve. The stronger than expected US job data has signalled a cautious stance from Fed ahead, which led market to push their expectations of the probability of first rate cut in 2026 to July from June. Investors are now awaiting CPI inflation data in US which is scheduled on Friday. But India's inflation data will be out on February 12, which will be keenly watched.

That being said, gold rates in Chennai saw the most decline than compared to other cities like Hyderabad. Yet, gold is expensive in Chennai than other cities. Gold rate in cities like Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, and Kerala is above Rs 1.58 lakh mark, but gold rate in 10 grams is above Rs 1.59 lakh mark in Chennai on February 12 despite the sharpest fall.

Gold Rates In India:

Gold Rates In Chennai:

24 carat gold price fell by Rs 2,070 to Rs 1,59,280 per 10 grams, while the sharpest decline was seen in 100 grams gold price of Rs 20,700 in the same carat to Rs 15,92,800. The gold rates of 8 grams dipped by Rs 1,656 to Rs 1,27,424 and edged lower by Rs 207 in 1 gram to Rs 15,928.

Further, 22 carat gold price slipped by Rs 1,900 to Rs 1,46,00 per 10 grams, but nosedived by Rs 19,000 to Rs 14,60,000 per 100 grams. Also, 8 grams and 1 gram gold prices here plunged by Rs 1,520 and Rs 190 to Rs 1,16,800 and Rs 14,600 respectively.

Under the 18 carat gold, 10 grams price tumbled by Rs 1,000 to Rs 1,26,000, while 100 grams gold plunged by Rs 10,000 to Rs 12,60,000, 8 grams further declined by Rs 800 to Rs 1,00,800 and 1 gram gold was down by Rs 100 to Rs 12,600.

Gold Rates In Hyderabad:

In this city, 24 carat gold plummeted by Rs 1,200 in 10 grams to Rs 1,58,400 and down by Rs 12,000 in 100 grams to Rs 15,84,000. Further, 8 grams gold of 24 carat dropped by Rs 960 to Rs 1,26,720 and 1 gram gold inched lower by Rs 120 to Rs 15,840.

Additionally, 22 carat gold price declined by Rs 1,100 to Rs 1,45,200 per 10 grams, but contracted steeply by Rs 11,000 to Rs 14,52,000 per 100 grams. Also, 8 grams gold of 22 carat is down by Rs 880 to Rs 1,16,160 and lower by Rs 110 to Rs 14,520 in 1 gram.

Coming to 18 carat, 10 grams gold price here is lower by Rs 900 to Rs 1,18,800, and nosedived by Rs 9,000 to Rs 11,88,000 per 100 grams. Notably, 8 grams gold price is at Rs 95,040, down by Rs 720. The cheapest gold of 1 gram is at Rs 11,880, lower by Rs 90.

Gold Rates In India Prediction:

As per Ponmudi R, CEO of Enrich Money, here are the expectations of gold prices in India and globally.

Spot Gold Price Outlook

COMEX Gold is trading within the $5,000-$5,150 band after witnessing a sharp correction from highs near $5,500-$5,600. The broader uptrend remains intact, and the recent pullback appears to be healthy profit booking rather than structural weakness.

Prices are consolidating above key moving averages, suggesting the corrective phase may be maturing. Strong buying interest is visible in the $4,500-$4,700 support zone. Stability above this region could pave the way for renewed upside momentum. A breakout above $5,200-$5,300 would strengthen the case for a retest of record highs.

Spot Gold Price Outlook:

MCX Gold futures are trading in the Rs1,55,000-Rs1,60,000 range following consolidation after a sharp correction from all-time highs near Rs1,80,000-Rs1,81,000.

While short-term price action remains in digestion mode, the broader uptrend structure is still supportive, with prices holding above major long-term support areas. Strong demand is seen in the Rs1,45,000-Rs1,50,000 band. A sustained hold above this base, followed by a breakout above Rs1,60,800, could revive bullish momentum towards Rs1,65,000-Rs1,75,000. Medium-term outlook remains positive despite volatility.

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