Gold Prices Rise in Chennai, Stay Steady in Other Cities - August 28 Update
Gold Prices in Indian Cities
Gold prices showed mixed movement today across major Indian cities.
- In Chennai, gold prices increased with one sovereign priced at Rs 75,240, up from Rs 75,120 yesterday. The price per gram stood at Rs 9,405.
- In Mumbai, Delhi, and Bangalore, 22-carat gold was priced around Rs 94,000–94,200 per 10 grams.
- For 24-carat gold, prices were close to Rs 1,02,600–1,02,750 per 10 grams in Mumbai and Delhi.
- Silver remained steady at about Rs 1,16,000 per kg across major cities.
International Market
Globally, spot gold traded near $3,390 per ounce, with December futures holding at $3,447 per ounce. Investors are waiting for the release of the U.S. Personal Consumption Expenditures (PCE) Price Index, which could guide the Federal Reserve’s decision on a possible 25 basis point rate cut next month. Analysts expect prices could cross the $3,400 level if the data supports lower interest rates.
Gold Demand in India
Gold remains a popular investment in India due to:
- Safe-haven demand during global uncertainties
- Festive and ritual purchases
- Rupee weakness and narrowing gap with global prices
So far in 2025, gold has given a strong 31% return in India.
Price Snapshot (August 28, 2025)
Chennai (22K Gold): Rs 9,405 per gram
Mumbai (24K Gold): Rs 1,02,600 per 10 grams
Spot Gold Internationally: $3,390 per ounce
Silver: Rs 1,16,000 per kg
Outlook
Experts remain positive on gold in 2025, supported by inflation concerns, Fed policy changes, and festive demand in India.
