Chennai Gold and Silver Prices Today: Is It Cheaper Or Costlier On July 1 In Tamil Nadu Capital?

Gold prices in Chennai have dropped since the US and Iran's peace deal. This development has given a relief to the buyers who have been waiting for the right time to buy the yellow metal after the rates shot up during the recent middle-east crisis.

Going by the rates listed in the official websites of the leading jewellery stores in Chennai, a gram of 22-karat gold is being sold at ₹12,905, while 24-karat gold is priced at ₹14,088 per gram. The rate of 18-karat gold stands at ₹10,566 per gram, while 14-karat gold is available at ₹8,218 per gram.

As far as the price of Silver is concerned, it is around ₹245 per gram at most stores.

When it comes to GRT Jewellers, the price of 24-karat gold is sold at ₹14,088 per gram, while 22-karat gold stood at ₹12,905 per gram. The shop listed 18-karat gold at ₹10,566 per gram and 14-karat gold at ₹8,218 per gram. Silver is priced at ₹245 per gram.

At Vummidi Bangaru Jewellers, a gram of 24-karat gold is sold at ₹14,088 per gram, 22-karat gold at ₹12,905 per gram and 18-karat gold at ₹10,566 per gram, today. Silver (92.5 purity) is priced at ₹245 per gram.

At Lalitha Jewellery, 22-karat gold was priced at ₹12,905 per gram, while silver is available at ₹245 per gram. Saravana Stores Elite Jewellery has listed 22-karat gold at ₹12,905 per gram, 18-karat gold at ₹10,566 per gram and silver at ₹245 per gram.

Meanwhile, rates varied slightly at some other outlets. Jeyachandran Gold House quoted 91.6 purity gold, equivalent to 22-karat gold, at ₹12,645 per gram, while silver is priced at ₹252 per gram. Swarna Maligai listed 22-karat gold at ₹13,100 per gram, 18-karat gold at ₹10,940 per gram and silver at ₹245 per gram.

At D.A.R Jewellery, 91.6 purity gold at ₹12,905 per gram and 18-karat gold at ₹10,566 per gram. The jeweller's rate for 99.9 gold bars stood at ₹14,468 per gram, while silver prices ranged between ₹206 and ₹224 per gram depending on purity.

Gold prices in Coimbatore, however, remained higher compared with Chennai. At Kota Gold Jewellery, a gram of 24-karat gold is sold at ₹14,586 and 22-karat gold at ₹13,370 per gram. The price of eight grams of 22-karat gold, commonly referred to as one sovereign, stood at ₹1,06,960.

Looking at the prices listed by the above jewellery shops, the marker observers say that it is a good time to buy the metals as the precious metals have become cheaper.

It is because the volatility is expected as the US and Iran are trying to seal an agreement. US special envoy Steve Witkoff and President Donald Trump's son-in-law ‌Jared Kushner are in Doha to discuss the US-Iran negotiations with mediators.