Stay Ahead of the Market with Up-to-Date Gold Rates in Chennai
Gold is an integral part of our nation’s culture. Like in most states and cities in India, in Chennai too the metal is considered highly auspicious. It is no wonder then that it plays a prominent role in almost all festivals and occasions.
The gold rate in India plays a key role in determining the live gold rate in Chennai and other states. It is also influenced by other factors, including inflation, the festive season, and more.
Check out the gold price today in Chennai for different weights below:
Gram |
24 Carat Gold Rate Today |
24 Carat Gold Rate Yesterday |
Daily Price Change |
1 Gram |
₹7,745 |
₹7,767 |
- ₹22 |
10 Gram |
₹77,450 |
₹77,670 |
- ₹220 |
100 Gram |
₹7,74,500 |
₹7,76,700 |
- ₹2,200 |
See the gold rate in Chennai over the recent past.
Date |
STANDARD GOLD 22K |
PURE GOLD 24K |
||
1 Gram |
10 Gram |
1 Gram |
10 Gram |
|
Oct 07, 2024 |
₹7,100.00 |
₹71,000.00 |
₹7,745.00 |
₹77,450.00 |
Oct 06, 2024 |
₹7,120.00 |
₹71,200.00 |
₹7,767.00 |
₹77,670.00 |
Oct 05, 2024 |
₹7,120.00 |
₹71,200.00 |
₹7,767.00 |
₹77,670.00 |
Oct 04, 2024 |
₹7,120.00 |
₹71,200.00 |
₹7,767.00 |
₹77,670.00 |
Oct 03, 2024 |
₹7,110.00 |
₹71,100.00 |
₹7,756.00 |
₹77,560.00 |
Oct 02, 2024 |
₹7,100.00 |
₹71,000.00 |
₹7,745.00 |
₹77,450.00 |
Oct 01, 2024 |
₹7,050.00 |
₹70,500.00 |
₹7,691.00 |
₹76,910.00 |
Sep 30, 2024 |
₹7,080.00 |
₹70,800.00 |
₹7,724.00 |
₹77,240.00 |
Sep 29, 2024 |
₹7,095.00 |
₹70,950.00 |
₹7,740.00 |
₹77,400.00 |
Sep 28, 2024 |
₹7,095.00 |
₹70,950.00 |
₹7,740.00 |
₹77,400.00 |
Disclaimer: These rates are indicative and exclusive of taxes.
GST or Goods and Service Tax was implemented throughout the nation in 2010. It replaced indirect taxes such as VAT, service, sales, custom, and excise. As with other taxes, GST is added to the actual gold rate to derive your cost of purchase.
Although GST has reduced the number of taxes levied on gold, it has resulted in an increase in the final value of the gold. Here is a table to give you an overview of how GST has impacted the final gold rate in Chennai and other cities of the country:
Column number |
Taxes and other costs |
Before GST |
After GST |
1 |
Gold rate of 10 gram |
₹52,500 |
₹52,500 |
2 |
Custom duty at 10% |
₹5,250 |
₹5,250 |
3 |
Cost (1+2) |
₹57,750 |
₹57,750 |
4 |
Service tax at 1% |
₹577.50 |
NA |
5 |
Cost (3+4) |
₹58,328 |
₹57,750 |
6 |
VAT at 1% |
₹583.28 |
NA |
7 |
Cost (5+6) |
₹58,911.28 |
₹57,750 |
8 |
GST at 3% |
NA |
₹1,732.50 |
9 |
Cost (7+8) |
₹58,911.28 |
₹59,482.5 |
10 |
Making charges (10%) |
₹5,891.13 |
₹5,948.25 |
11 |
Cost (9+10) |
₹64,802.41 |
₹65,430.75 |
12 |
GST on making charges at 5% |
NA |
₹3,271.54 |
13 |
Final cost of gold |
₹64,802.41 |
₹68,702.29 |
Disclaimer: The above gold rate is indicative and making charges are assumed to be at 10%. Both these charges may vary based on the city and the vendor.
Given that gold is a popular investment choice, investing in gold at any time is a good idea. However, as a general rule of thumb and to make the most of your investment, look at the trend of gold rates in Chennai. This will give you an idea about when is the best time to enter the market.
The best way to go about gold investment in Chennai is by purchasing it from a trusted vendor. This way you can ensure that you are getting your money’s worth.
Buying gold has become very easy and convenient, as there are multiple avenues to choose from.
To make sure that your investment is in line with the goals, you should choose the type of gold that is best for you. These include bonds, jewellery, bars, or coins. To get your money’s worth, do your research regarding the historical and live gold rate in Chennai.
Gold price in Chennai and cities across the nation is determined by the Indian Bullion Jewellers Association. The association takes into account the current market demand and costs as well as the previous day’s closing rate of gold in the international market.
The best way to ensure the quality of gold is by looking at the BIS hallmark. All gold pieces that have this hallmark get it once they pass the purity standards set by the BIS.
The gold carat range in Chennai goes from 24K to 10K. This includes 22K, 18K, and 14K.
Looking at the historical gold rates and live gold rate in Chennai, the gold price in Chennai and across the nation is expected to fall as the inflation goes down. In the near future, the gold rate is expected to increase.