Chennai Gold Rate Today August 1, 2026: 22K Gold Drops ₹35 to ₹13,220; Silver Remains Steady at ₹235

Gold prices in Chennai declined on Saturday, August 1, 2026, according to the latest morning rates released by the Madras Jewellers & Diamond Traders Association (MJDTA).

The price of 22-carat gold fell by ₹35 per gram, bringing the rate down to ₹13,220, compared to ₹13,255 on July 31. Similarly, the price of 18-carat gold also decreased by ₹35 per gram, dropping to ₹11,035 from ₹11,070 the previous day.

Meanwhile, the silver rate in Chennai remained unchanged at ₹235 per gram, continuing at the same level for another consecutive day.

Chennai Gold and Silver Rates – August 1, 2026

22K Gold (1 Gram): ₹13,220 (↓ ₹35)
18K Gold (1 Gram): ₹11,035 (↓ ₹35)
Silver (1 Gram):  ₹235 (No Change)

Gold Prices Decline After Recent Gains

After recording steady gains over the previous two trading sessions, gold prices in Chennai witnessed a modest correction today.

On July 31, the 22K gold rate stood at ₹13,255 per gram, while the 18K gold rate was ₹11,070 per gram. With today`s decline of ₹35 per gram, the prices have eased to ₹13,220 and ₹11,035, respectively.

Despite this pullback, gold prices remain relatively strong, reflecting continued fluctuations in the domestic and international bullion markets.

Silver Prices Hold Firm

Unlike gold, silver prices in Chennai remained stable at ₹235 per gram, showing no change from the previous trading session.

Factors Affecting Gold Prices in Chennai

Gold prices are influenced by several domestic and global factors, including:

- International bullion market trends
- US dollar exchange rate movements
- Interest rate expectations
- Inflation and global economic conditions
- Geopolitical developments
- Import duties and taxes
- Local jewellery demand and investor sentiment

Jewellery buyers and investors are advised to check the latest Chennai gold rate before making purchases or investment decisions, as gold and silver prices may fluctuate based on market conditions throughout the day.