Gold Price Today in Chennai: 22-Carat Gold Rises by ₹120 per Sovereign; Silver Remains Stable

Gold prices in Chennai increased on Monday, October 26, 2026, bringing a fresh change for jewellery buyers and gold investors. The price of 22-carat ornamental gold rose by ₹120 per sovereign (8 grams), reaching ₹1,04,680. The price per gram increased by ₹15 to ₹13,085. Meanwhile, silver prices remained unchanged at ₹220 per gram.

Today`s Gold and Silver Rates in Chennai

The latest rates show a modest increase in gold prices after a week marked by significant fluctuations.

22-carat gold per gram: ₹13,085

22-carat gold per sovereign (8 grams): ₹1,04,680

Silver per gram: ₹220

Silver per kilogram: ₹2,20,000

The increase may affect customers planning jewellery purchases, particularly those waiting for prices to fall further before buying gold for weddings and other family occasions.

Gold Prices Fell by ₹3,720 Last Week

Gold prices experienced considerable volatility last week. Although the price initially increased by ₹280 per sovereign, it subsequently declined sharply, with the cumulative fall reaching ₹4,080 at one stage. A modest increase of ₹80 towards the end of the week offered a brief recovery.

Overall, gold prices recorded a net decline of ₹3,720 per sovereign during the week. This downward movement raised hopes among jewellery buyers that prices might continue to soften.

However, Monday`s increase of ₹120 per sovereign indicates that gold prices can move in either direction, making it important for buyers and investors to monitor daily rate changes.

High Gold Prices Affect Middle-Class Buyers

Gold remains an important part of Indian weddings, festivals and traditional gifting. However, prices crossing the ₹1 lakh mark per sovereign have made jewellery purchases increasingly expensive for many middle-class families.

Some households are now prioritising essential purchases for weddings and other ceremonies rather than buying jewellery for personal use. As a result, even a modest reduction in gold prices can bring relief to customers who have postponed their purchases.

With gold prices fluctuating sharply, buyers are watching the market closely for opportunities to purchase jewellery at more affordable rates.

What Is Influencing Gold Prices?

Gold prices in India are influenced by several factors, including international bullion rates, the value of the Indian rupee against the US dollar, interest-rate expectations and geopolitical developments.

Changes in global investment demand can also affect gold prices. When investors shift money towards other assets, demand for gold may weaken, potentially putting downward pressure on prices. Conversely, economic uncertainty and geopolitical tensions can increase demand for gold as a safe-haven investment.

Movements in crude oil prices and developments in the United States may also influence financial markets and investor sentiment. However, the impact of these factors on gold prices varies depending on broader market conditions.

Should You Invest in Gold Now?

The latest increase highlights the uncertainty surrounding short-term gold price movements. Investors considering gold should evaluate their financial gogoals, investment horizon and risk tolerance rather than making decisions based solely on daily price changes.

Gold can play a role in diversifying a long-term investment portfolio, but it does not guarantee returns. Buyers purchasing jewellery should also account for making charges and applicable taxes, which increase the final cost beyond the quoted gold rate.

With gold prices remaining above ₹1 lakh per sovereign, customers and investors will be watching upcoming market movements to determine whether prices will rise further or resume their downward trend.

Disclaimer: Gold and silver prices fluctuate according to market conditions. Check the latest local rates with a jeweller before making a purchase or investment decision.