Gold prices in Chennai moved higher on Monday, January 12, in line with the sharp rally seen across global precious metals. The price of 24 karat gold in Chennai stood at Rs 14,313 per gram, while 22 karat gold was priced at Rs 13,120 per gram and 18 karat gold traded at Rs 10,945 per gram.
The rise in Chennai gold prices comes amid strong safe-haven demand globally, driven by escalating geopolitical tensions, weaker US economic data and rising expectations of interest rate cuts by the US Federal Reserve.
Gold price in Chennai today (per gram)
| Gold purity | Price in Chennai |
|---|---|
| 24K gold | Rs 14,313 |
| 22K gold | Rs 13,120 |
| 18K gold | Rs 10,945 |
24K gold price today in Chennai
| Quantity | Today |
|---|---|
| 1 gram | Rs 14,313 |
| 8 grams | Rs 1,14,504 |
| 10 grams | Rs 1,43,130 |
| 100 grams | Rs 14,31,300 |
22K gold price today in Chennai
| Quantity | Today |
|---|---|
| 1 gram | Rs 13,120 |
| 8 grams | Rs 1,04,960 |
| 10 grams | Rs 1,31,200 |
| 100 grams | Rs 13,12,000 |
18K gold price today in Chennai
| Quantity | Today |
|---|---|
| 1 gram | Rs 10,945 |
| 8 grams | Rs 87,560 |
| 10 grams | Rs 1,09,450 |
| 100 grams | Rs 10,94,500 |
Why are gold prices rising sharply today?
Gold prices surged sharply on Monday, breaching the $4,600 per ounce mark for the first time ever, supported by heightened geopolitical risks, softer US macroeconomic data and growing expectations of interest rate cuts. Silver also joined the rally, touching record highs alongside gains across the broader precious metals complex.
Geopolitical tensions boost safe-haven demand
One of the major drivers behind the surge in gold prices has been a sharp rise in geopolitical uncertainty. Unrest in Iran has intensified, with reports indicating that more than 500 people have been killed amid widespread protests. Tensions escalated further after Iran warned of targeting US military bases if President Donald Trump proceeds with renewed military threats.
Global uncertainty has also increased following aggressive US geopolitical moves, including the removal of Venezuelan President Nicolás Maduro and renewed discussions around acquiring Greenland. These developments have heightened risk aversion, pushing investors towards safe-haven assets such as gold and silver.
US jobs data fuels rate-cut expectations
Gold’s rally has also been supported by weaker-than-expected US employment data. December job growth slowed sharply, with losses reported in sectors such as construction, retail and manufacturing. Although the unemployment rate edged slightly lower, the overall data reinforced expectations that the US labour market is cooling.
Markets are now pricing in at least two Federal Reserve rate cuts this year. Lower interest rates typically support non-yielding assets like gold, making the metal more attractive relative to bonds and other yield-generating instruments.
Fed uncertainty adds to market volatility
Investor sentiment has also been shaken by political pressure on the US Federal Reserve. Federal Reserve Chair Jerome Powell recently stated that the Trump administration had threatened him with criminal charges linked to past congressional testimony. This has raised concerns about policy independence and broader financial stability, further boosting demand for precious metals.
FAQs: gold prices in Chennai
What is the gold price in Chennai today?
Gold prices in Chennai today are Rs 14,313 per gram for 24K gold, Rs 13,120 per gram for 22K gold and Rs 10,945 per gram for 18K gold.
Why is Chennai gold slightly costlier than some cities?
Gold prices in Chennai can be marginally higher due to local demand patterns, logistics costs and jeweller margins.
Do these prices include GST and making charges?
No, these are indicative bullion prices and do not include GST, TCS or jewellery making charges.
Does Chennai gold price track global markets?
Yes, gold prices in Chennai closely follow international bullion prices, currency movements and global risk sentiment.
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