Gold Price Rises Again: Is This the Right Time to Invest in Gold?

After declining over the past three days, gold prices have moved higher again in Chennai today. The latest movement comes as investors and jewellery buyers continue to watch the precious metal market closely.

22-Carat Gold Price Today

The price of 22 carat jewellery gold has increased by ₹70 per gram, taking the rate to ₹13,710 per gram. An 8-gram sovereign is now priced at ₹1,09,680.

Gold Price  Last 10 Days

DatePrice per SovereignSeptember 30₹1,09,680

September 29 ₹1,10,120

September 28 ₹1,10,320

September 27 ₹1,12,000

September 26 ₹1,12,000

September 25 ₹1,12,080

September 24 ₹1,12,000

September 23 ₹1,13,080

September 22 ₹1,13,480

September 21 ₹1,14,160

Despite today`s movement, gold remains lower than the levels recorded earlier in the month.

24-Carat Gold Price

The price of 24 carat pure gold has also increased today. The current rate is ₹14,956 per gram, while 8 grams is priced at ₹1,19,648.

Gold Prices in Major Cities

Today’s 22-carat gold prices per gram are reported as:

Chennai: ₹13,710

Mumbai: ₹13,710

Delhi: ₹13,725

Kolkata: ₹13,710

Bengaluru: ₹13,710

Hyderabad: ₹13,710

Kerala: ₹13,710

Pune: ₹13,710

Vadodara: ₹13,715

Ahmedabad: ₹14,715

Local jewellery prices may vary depending on taxes, making charges and other applicable costs.

Silver Price Today

Silver prices have also remained firm. In Chennai, silver is priced at ₹245 per gram, while one kilogram is priced at ₹2,45,000.

What Drives Daily Gold Price Movements?

Gold prices are influenced by several domestic and international factors, including global bullion prices, inflation, interest-rate decisions, geopolitical developments and currency movements.

Changes in the value of the Indian rupee against the US dollar can also affect domestic gold prices. In Tamil Nadu, seasonal demand linked to weddings, festivals and investment activity can further influence local jewellery prices.

What Buyers Should Check Before Purchasing Gold

Anyone planning to buy gold jewellery should check the BIS Hallmark to verify purity. It is also advisable to compare prices at reputable jewellers and carefully check making charges, wastage charges, GST and the final bill amount before making a purchase.

For investment purposes, buyers may consider options such as gold coins, bars or other regulated gold investment products based on their financial goals and risk considerations.

Gold prices can change frequently, so buyers should check the latest rate before making a purchase.