Gold prices in Chennai declined on Thursday, January 22, in line with the broader correction seen in domestic and international bullion markets. The fall comes a day after gold touched record highs, with prices easing due to profit booking and softer global cues.
Gold rates in Chennai today (per gram)
- 24K gold: ₹15,491
- 22K gold: ₹14,200
- 18K gold: ₹11,850
The decline mirrors the trend seen across major Indian cities as gold prices adjusted lower after Wednesday’s sharp rally.
Why did gold prices fall today in Chennai?
Gold prices slipped after easing geopolitical tensions globally and a marginal recovery in the US dollar, which reduced the appeal of safe-haven assets in the near term. Investors also booked profits after gold surged to lifetime highs in both MCX and international markets in the previous session.
On Wednesday, domestic gold prices had climbed sharply, tracking global bullion, as concerns around geopolitical developments and currency volatility boosted safe-haven demand. However, with immediate tensions cooling, prices corrected on Thursday.
Outlook
Despite today’s decline, gold prices remain significantly higher on a month-to-date basis. The broader trend continues to be supported by global uncertainty, central bank buying, and expectations of easier monetary policy in key economies.
Note: Gold rates are indicative and may vary slightly across jewellers due to making charges, GST, and local levies.