Gold Price Today (November 6, 2026): Four-Day Rally Comes to a Halt; Is This the Right Time to Buy Gold?

Gold prices in Chennai, which had increased sharply over the past four days, witnessed a fresh decline today (November 6, 2026). After the initial morning rate update at 10:04 AM, gold prices were revised again at 10:32 AM, bringing some relief to jewellery buyers.

The latest revision reduced the price of 22-carat gold by Rs. 245 per gram. Consequently, the price of one sovereign (8 grams) declined by Rs. 1,960.

Chennai Gold and Silver Rates Today – November 6, 2026

Following the latest revision at 10:32 AM, the gold and silver rates in Chennai are:

22-carat gold: Rs. 13,140 per gram (-Rs. 245)

18-carat gold: Rs. 10,760 per gram (-Rs. 195)

14-carat gold: Rs. 8,665 per gram (-Rs. 180)

Silver: Rs. 205 per gram (-Rs. 5)

22-Carat Gold Falls by Rs. 1,960 Per Sovereign

The price of 22-carat gold has declined from Rs. 13,385 to Rs. 13,140 per gram.

Accordingly, the price of one sovereign (8 grams) has decreased from Rs. 1,07,080 to Rs. 1,05,120, marking a reduction of Rs. 1,960.

This decline comes after several days of continuous increases and offers some relief to customers planning to purchase gold jewellery.

Gold Price Rises by Rs. 5,240 in Four Days

Gold prices had been on an upward trend since the beginning of this week. Developments surrounding the US mid-term elections have influenced global financial markets, contributing to the recent movement in gold prices.

In the last two days alone, gold prices increased by Rs. 4,680 per sovereign. Over the past four days, the cumulative increase reached Rs. 5,240 per sovereign.

This followed a decline of around Rs. 3,500 last week. During the falling trend, many buyers expected the price of one sovereign to move below Rs. 1 lakh. However, the sudden recovery pushed prices higher and made jewellery purchases more expensive.

Yesterday`s Gold and Silver Rates in Chennai

On November 5, gold prices recorded another significant increase in Chennai.

The price of 22-carat gold rose by Rs. 285 per gram to reach Rs. 13,385. As a result, the price of one sovereign increased by Rs. 2,280 to reach Rs. 1,07,080.

Silver prices also increased by Rs. 10 per gram to reach Rs. 210.

However, today`s latest revision has reversed part of these recent gains, with both gold and silver recording price reductions.

Will Gold Prices Fall Further Before Diwali?

The recent price surge had disappointed families planning to purchase jewellery for Diwali. Some jewellers had reportedly slowed down their gold purchases last week, expecting prices to decline further.

With Diwali approaching, many buyers are hoping for another reduction in gold prices. However, future price movements will largely depend on international market developments, US economic policies and investor demand.

Although some economic experts believe gold could offer attractive returns by next year, a significant short-term price correction cannot be guaranteed.

Is It Better to Buy Gold Now or Wait?

Today`s decline of Rs. 1,960 per sovereign has provided some relief to Chennai jewellery buyers. However, gold prices have been fluctuating considerably, with multiple revisions recorded during recent trading sessions.

For families planning immediate jewellery purchases, monitoring the latest rates before visiting jewellery shops may be helpful. Those considering gold as a long-term investment should evaluate their financial goals and risk tolerance rather than relying solely on short-term price movements.

Chennai buyers will now be watching closely to see whether gold prices decline further or recover after today`s correction