Gold prices in Chennai surged sharply on May 13, 2026, following the government’s late May 12 decision to hike gold and silver import duty from 6% to 15% — a 9 percentage point jump that immediately raised the landed cost of imported bullion across all Indian markets.
24 carat gold in Chennai stands at ₹16,800 per gram, up ₹1,391 from yesterday’s ₹15,413. 22 carat gold is at ₹15,400 per gram, up ₹1,275. 18 carat gold stands at ₹12,860 per gram, up ₹1,043. Chennai continues to trade at a small premium over most other cities, reflecting its structurally elevated local levy structure and consistently strong physical demand from Tamil Nadu’s gold market.
The duty hike — comprising a 10% basic customs duty and 5% Agriculture Infrastructure and Development Cess — came two days after PM Modi’s appeal urging citizens to avoid buying gold for weddings for a year, and represents the hardest policy action yet to curb precious metals import demand and ease pressure on India’s foreign exchange reserves amid crude oil above $100 per barrel.
For Chennai consumers, 10 grams of 24 carat gold now costs ₹1,67,890 against ₹1,53,980 yesterday — an overnight increase of ₹13,910 per 10 grams.
Rates are indicative and exclude GST, TCS, and other levies. Contact your local jeweller for exact rates.