Huge Drop In Gold Price After Akshaya Tritiya In Chennai & Hyderabad: 24K, 22K, 18K Gold Rate Today, April 20

Gold Rate Today: Just a day after Akshaya Tritiya 2026, traditionally considered one of the most auspicious occasions to buy gold, prices have unexpectedly declined, defying the usual trend where strong festive demand pushes the gold price higher.

Gold prices in cities like Chennai and Hyderabad saw a sharp drop on Monday morning due to weakness in the global bullion market. The primary reason behind this fall is a strong rebound in the US dollar index, which typically puts pressure on gold prices internationally.

Globally, gold rates slipped as the dollar strengthened, while renewed tensions in West Asia added another layer of uncertainty. Reports that the Strait of Hormuz has been shut again pushed oil prices higher, reigniting concerns around inflation.

According to a report by Kotak Securities, "Spot gold slipped below $4,800/oz and silver under $80/oz as a firmer dollar weighed on prices, with renewed West Asian tensions raising fears of energy-driven inflation."

Gold Demand Soars on Akshaya Tritiya 2026

"On the occasion of Akshaya Tritiya, overall trade across India has been very strong. If I speak about the entire country, an estimated figure of around 18 to 20 tonnes of business has been recorded. Notably, South India picked up momentum early and delivered the first strong reports," said Rajesh Rokde, Chairman of GJC.

"With gold prices rising from around Rs 90,000 per 10 grams last year to approximately Rs 154,000 per 10 grams now, the attraction towards this sector has increased significantly. People are not only buying gold, silver, and diamonds for religious or auspicious reasons but are also viewing it as a solid investment. Gradually, people have understood the benefits of systematic investment buying on every auspicious occasion, and this has worked in their favour." He further added.

Gold Prices in Chennai Today

The gold rate in Chennai experienced a sharp fall today. The 24-carat gold rate in Chennai crashed by Rs. 660 per 10 grams to cost Rs. 156,000 per 10 grams, while the 22-carat gold rate in Chennai dropped by Rs. 600 and now retails at Rs. 143,000 per 10 grams.

Gold Rate In Hyderabad

Following Chennai's lead, gold prices in Hyderabad today fell dramatically across purities. The 24-karat gold rate in Hyderabad is now available at Rs.155,290, which fell by Rs. 490. The 22-karat gold rate in Hyderabad fell by Rs. 450 and now retails at Rs. 142,350.

Gold Future Price On MCX

On the Multi Commodity Exchange (MCX), the gold futures for June 5th, 2026, delivery are extending losses of 1%, trading at Rs 153,057 per 10 grams at the time of writing. Similarly, the silver futures for the May 5th expiry dipped today by 2.20%, trading at Rs 251,484 per kg at the time of writing on April 20.

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