Gold price Chennai May 19 2026: 24 karat gold at ₹16,222/gram, 22 karat at ₹14,870/gram, 18 karat at ₹12,410/gram — Chennai leads all major Indian cities on gold price due to higher local levies
Gold prices in Chennai on May 19, 2026, stand at ₹16,222 per gram for 24 karat gold, ₹14,870 per gram for 22 karat gold, and ₹12,410 per gram for 18 karat gold — making Chennai the most expensive gold market among all major Indian cities today by a significant margin.
The Chennai premium over the national baseline — where 24K is priced at ₹15,704 per gram — works out to ₹518 per gram on 24 karat gold. On a 10-gram basis, Chennai buyers are paying ₹5,180 more than buyers in Mumbai, Kolkata, Bengaluru, and Hyderabad for equivalent 24 karat gold. The premium reflects Chennai’s traditionally higher local levies, its status as the hub of South India’s jewellery trade, and the market conventions of Tamil Nadu’s large and active jewellery retail sector.
On a 10-gram basis, 24K gold in Chennai costs ₹1,62,220 today. 22K gold — the standard for jewellery across most of Tamil Nadu and preferred for traditional south Indian jewellery designs — is priced at ₹1,48,700 per 10 grams. 18K gold is at ₹1,24,100 per 10 grams.
Gold prices rose nationally on May 19 as international spot gold gained 0.4% to approximately $4,585 per ounce, supported by easing fears of immediate Iran military escalation after Trump announced a pause in planned US strikes following appeals from Gulf leaders. The domestic amplification of this international move comes from the rupee’s sustained weakness near record lows of 96 against the dollar — every dollar of gold price movement translates into a proportionally larger rupee-denominated impact at the current exchange rate.
India’s gold import duty hike to 15% from 6% effective May 13, 2026, has structurally elevated domestic gold prices above import parity. The duty hike, implemented as part of the government’s forex conservation response to the West Asia crisis and Strait of Hormuz disruption, has placed a permanent price floor under domestic gold relative to international benchmarks — and applies uniformly across all cities, with the Chennai premium sitting on top of this elevated baseline.
For exact transaction prices including GST, TCS, and making charges, buyers should consult their local jeweller directly, as the rates above are indicative and exclude all applicable duties and levies.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.