Chennai Gold Prices Rise, While Delhi Sees a Dip: Check Today’s Rates Across Major Cities

What is the Gold price today? It is one of the topics of interest among Indians. India people use to check gold prices and plan before purchasing gold. However the price of gold depends on various factors like local demands, local taxes, and market conditions. As of October 2, 2024, Chennai saw a significant rise in gold prices, while other major cities like Delhi experienced a decline.

As per the news sources recently the price of gold increased by ₹400 per sovereign, with a hike of ₹50 per gram in Chennai. This rise in price of gold in 24 hrs reflects the strong demand for gold in South India. The yellow metal gold holds cultural and traditional values in the region of the Southern part of India. In festivals, weddings, and functions people of south India prefer to buy gold.

Festivals and weddings often drive up the demand and it leads to higher prices of Gold in this region.

On the same day when Chennai saw a hike in prices of Gold, The heart of India, saw a drop in gold prices by ₹300 per sovereign. What is the reason behind it?

As you know Delhi is the capital city of India so it generally follows very different trends in Gold as compare to Chennai. The global market conditions and investor sentiments imapact the rates of Gold more than cultural or seasonal demands in Delhi.

Now let us check what’s going on in Mumbai. Mumbai is a financial hub of India, so it follows the global trends more closely in comparison to other states. Gold prices in Mumbai remain relatively stable. It is reflecting the influence of international gold rates in this city. Kolkata an another big market for gold sees moderate changes in prices.

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Overall different regions in India experience varied gold pricing due to local factors, cultural significance, and market influences. So before buying gold you should be keep yourself updated to the local rate of gold.

Today’s gold prices in major metro cities of India :

*Prices may vary, the data is collected from Goodreturns.