Gold Price In Chennai & Hyderabad Today, April 23: 22K/100 Gms Falls Rs 27,500, 24K Drops Rs 30K; Silver Flat

The Federal Reserve's uncertainty to begin lowering interest rates, along with safe-haven buying and a declining dollar, caused gold prices in the domestic market to plummet sharply on Wednesday, April 23, after hitting Rs 1 lakh the day before. This marked a first for the bullion market. Gold prices are anticipated to gain support amid trade policy uncertainties as US President Donald Trump pushes to cut interest rates and the US dollar falls to a three-year low. Gold prices are predicted to be unstable due to the uncertainties surrounding the US-China trade dispute and the focus this week on the IMF conference, US durable goods orders data, and preliminary manufacturing and services PMI from key nations.

Gold & Silver Price In Chennai & Hyderabad Today

Today, 24 carat gold costs Rs 9,835 per gram, 22 carat gold costs Rs 9,015 per gram, and 18 carat gold costs Rs 7,376 per gram in Hyderabad and Chennai. On Wednesday, the price of gold in Hyderabad and Chennai dropped by Rs 2,750 to Rs 90,150 for 22k of 10 grams from Rs 92,900 on Tuesday. Meanwhile, the price of 22k of 100 grams dropped to Rs 9,01,500 in the cities today from Rs 9,29,000 yesterday, a fall of Rs 27,500.

A 24k of 10 grams of gold cost Rs 98,350 in Hyderabad and Chennai on Wednesday, down Rs 3,000 from the price of Rs 1,01,350 on Tuesday. Meanwhile, 24k of 100 grams of gold will cost Rs 9,83,500 in the cities today, down Rs 30,000 from Rs 10,13,500 yesterday.

The price of 18k of 10 grams of gold in Hyderabad and Chennai on Wednesday was Rs 74,650, down Rs 2,250 from yesterday's price of Rs 76,900. In the cities, 18k of 100 grams of gold will cost Rs 7,46,500, down Rs 22,500 from yesterday's price of Rs 7,69,000.

Silver is now priced at Rs 111 per gram and Rs 1,11,000 per kilogram in Chennai and Hyderabad, which is unchanged from yesterday's pricing.

MCX Gold Outlook Today

"Gold prices retreated below $3,400 after reaching a record high of $3,500, as U.S. signals of easing China tariffs softened demand for safe-haven assets. Treasury Secretary Bessent's remarks on the unsustainability of the trade war led investors to reassess risks. Despite the dip, gold remains up over 33% in 2025, with the gold-silver ratio near historic highs. On the technical front, gold continues to shine across all key indicators, signaling a strong uptrend and solid momentum. It is comfortably trading along the upper Bollinger Band. However, yesterday's candlestick was bearish, hinting at potential consolidation. Currently, support is placed at 96,270 and 94,280, while resistance is seen at 99,000," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Prediction Today

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade slightly lower for the day, as traders weighed the outlook for the metal amid the US-led trade war," Nirmal Bang Securities stated in a note.

Disclaimer

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