Gold Rates Today Crash! Gold Rate In Chennai Drops By Rs 9,800, Gold In Hyderabad Flat; 24K, 22K, 18K Gold

Gold rates in India hit a pause in their two-consecutive days losing streak on February 18. However, gold rates are broadly unchanged on Wednesday in majority of cities. This performance is despite positive global cues. Notably, gold rates in Chennai crashed dropped steeply. Despite this, gold is still expensive in Chennai compared to other cities like Hyderabad, Kerala, Bengaluru, Mumbai, Delhi and Kolkata among others.

What is impacting gold prices? As per experts, gold faces sharp correction due to heavy profit-booking amidst stronger dollar. Market is factoring the next policy action of US Federal Reserves and the sentiments are volatile.

Firstly, Federal Reserve Governor Michael Barr hinted at keeping key federal rates on hold for some time until US inflation meets their 2% objective. While Chicago Fed President Austan Goolsbee is recommending for more rate cuts in the later months of 2026. Key important data such as FOMC minutes, Fed comments, GDP data and PCE data scheduled for later this week, which will play a role in driving sentiments for precious metals.

Gold Rates In India:

In majority of cities, gold rates is below Rs 1.55 lakh mark. 10 grams of 24 carat gold stood at Rs 1,54,200 in Mumbai, Kolkata, Bengaluru, Pune, and Hyderabad. But gold is at Rs 1,54,250 in cities like Vadodara and Ahmedabad, while the price is at Rs 1,54,350 in Delhi. Gold is most expensive in Chennai which fell on February 18 unlike others.

Check Gold Rates In Top Cities

City	24K Today (per gram)	22K Today (per gram)	18K Today (per gram)
Chennai	₹15,524	₹14,230	₹12,180
Mumbai	₹15,420	₹14,135	₹11,565
Delhi	₹15,435	₹14,150	₹11,580
Kolkata	₹15,420	₹14,135	₹11,565
Bangalore	₹15,420	₹14,135	₹11,565
Hyderabad	₹15,420	₹14,135	₹11,565
Kerala	₹15,420	₹14,135	₹11,565
Pune	₹15,420	₹14,135	₹11,565
Vadodara	₹15,425	₹14,140	₹11,570
Ahmedabad	₹15,425	₹14,140	₹11,570

According to Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), gold has dropped sharply from recent levels as heavy profit-booking and a stronger dollar trigger a broad sell-off in precious metals. However, gold is still trading at high levels compared to previous weeks, indicating that the general trend is merely paused rather than reversed.

Gold Rates In Chennai Vs Gold Rates In Hyderabad

Gold Rates In Chennai:

24 carat gold price crashed by Rs 9,800 in 100 grams to Rs 15,52,400, while dropped by Rs 980 to Rs 1,55,240 per 10 grams. In the same carat, 8 grams and 1 gram gold dipped by Rs 784 and Rs 98 to Rs 1,24,192 and Rs 15,524 respectively.

Meanwhile, 22 carat gold price tumbled by Rs 9,000 to Rs 14,23,000 per 100 grams, following 10 grams gold which dropped by Rs 900 to Rs 1,42,300. Also, 8 grams gold here slipped by Rs 720 to Rs 1,13,840 and 1 gram gold is down by Rs 90 to Rs 14,230.

Furthermore, 18 carat gold price plunged by Rs 7,000 to Rs 12,18,000 in 100 grams, tumbled by Rs 700 to Rs 1,21,800 in 10 grams. Additionally, 8 grams gold in 18 carat is down by Rs 560 to Rs 97,440 and 1 gram is lower by Rs 70 to Rs 12,180.

Gold Rates In Hyderabad:

Gold rates in Hyderabad is unchanged on February 18. Accordingly, 24 carat gold rate stood at Rs 15,42,000 per 100 grams, at Rs 1,54,200 per 10 grams, at Rs 1,23,360 per 8 grams and at Rs 15,420 per 1 gram.

Moreover, 22 carat gold price stood at Rs 14,13,500 per 100 grams, at Rs 1,41,350 per 10 grams, at Rs 1,13,080 per 8 grams and at Rs 14,135 per 1 gram.

Lastly, 18 carat gold rates came in at Rs 11,56,500 per 100 grams, at Rs 1,15,560 per 10 grams, at Rs 92,520 per 8 grams and at Rs 11,565 per 1 gram.

Gold Rates & Silver Rates Outlook:

According Gaurav Garg, Research Analyst at Lemonn Markets Desk, gold and silver traded with mild gains on 18 February, stabilising after recent sharp declines as bargain buying emerged at lower levels. MCX gold hovered near the Rs 1.52-1.55 lakh per 10g zone, while silver saw a modest rebound, reflecting short-covering after heavy profit-booking.

However, near-term sentiment remains cautious amid a firmer US dollar and uncertainty around the policy outlook of the US Federal Reserve. But, safe-haven interest and ongoing central-bank buying continue to provide support on dips.

Overall, Garg said, "the current price action is being viewed as consolidation within a broader corrective phase rather than a breakdown of the long-term bullish trend. Investors may consider staggered accumulation, while traders should remain cautious amid elevated volatility."

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