Gold Rate In Chennai Today For 24k, 22k & 18k Gold; Check Gold Prices on Jan 23

Today's gold rates in Chennai showed no significant movements in prices after a major hike in gold rates seen this week due to strong demand for gold in the market. While the international gold prices are currently slipping, gold rates in Chennai have paused their rally.

Gold Prices in Chennai Today

As of 23rd January, 22-carat gold rates in Chennai remained stable at Rs. 75,250 per 10 grams, and similarly, the 24-carat gold rates in Chennai per 10 grams retailed at Rs. 82,090. Likewise, the 18-carat gold prices maintained stability at the price of Rs. 61,570 per 10 grams.
Similarly, the 100 g of 24-carat gold in Chennai now costs Rs. 8,20,900. 22-carat gold now costs Rs. 7,52,500 per 100 grams.

Silver Prices in Chennai Today

Silver Prices In Chennai, prices have remained constant from the past six trading sessions despite a lot of volatility seen in the gold prices. Currently, 1 kg of white metal in Chennai now costs Rs. 1,04,000, and 100 grams of white metal currently stands at Rs. 10,400, showing no major changes.

Chennai Gold Price Movement in the Last Five Days

Over the last five days the prices have been quite volatile with major gains and losses.

Dates	24-carat/10g	22 carat/10g
22nd January	Rs. 82,090	Rs. 75,400
21st January	Rs. 81,230	Rs. 74,500
20th January	Rs. 81,230	Rs. 74,500
19th January	Rs. 81,110	Rs. 74,350
18th January	Rs. 81,110	Rs. 74,350

Spot Gold and Silver Rates Update

According to a recent Reuters report, spot gold prices eased slightly on Thursday after reaching a near three-month high. Spot gold dropped by 0.1%, to $2,751.87 per ounce, after peaking at $2,763.43 earlier this week, the highest level since October 31. U.S. gold futures also saw a 0.3% decline to $2,761.70. Similarly, spot silver fell 0.5% to $30.63 per ounce. The price retreat was attributed to a strengthening dollar and investor anticipation of clearer guidance from the Trump administration on future trade policies.

Major Factors Driving Gold Prices Today

As per an FXStreet report, spot gold prices have experienced a slight retreat after hitting a near three-month high. This shift can be mainly due to the rise in U.S. bond yields and the strengthening U.S. dollar (USD). The USD has gained traction after bouncing from its recent low, aided by an uptick in U.S. Treasury bond yields. This has reduced gold's appeal as a safe-haven asset, especially amid a generally positive sentiment in the equity markets. Furthermore, investors are closely monitoring the Federal Reserve's next moves regarding interest rate hikes, as these could significantly influence gold prices. Rising rates often make non-yielding assets like gold less attractive, thereby limiting demand. As such, these economic factors are central to determining the future direction of gold prices.