Chennai Gold Prices Dip Amid Global Uncertainty, Check Rates Today

Gold prices in Chennai edged lower on Tuesday, reflecting weakness in international markets and the broader sentiment around the US dollar. As per the latest updates, 22-karat gold is trading at Rs 9,235 per gram, while 24-karat (999 gold) is priced at Rs 10,075 per gram.

India, which trails only China as the largest consumer of gold, relies on imports to meet most of its demand. Recycled gold makes up only a limited portion of the overall supply. Because global gold trade is denominated in US dollars, fluctuations in the rupee-dollar exchange rate have a swift and direct impact on local prices in Chennai and across the country.

Besides exchange rate movements, domestic levies such as import duties, GST, and state-level charges also influence gold rates in Chennai. On Tuesday, global cues pushed prices downward, as weak demand and investor uncertainty weighed on the precious metal.