Chennai Gold Rate Today (April 8): Check Latest IBJA Price In Tamil Nadu's Leading Jewellery Shops

Gold prices across leading jewellery shops in Tamil Nadu surged sharply on April 8, reflecting a strong upward trend compared to the previous day and earlier this month.

Oneindia has compiled the gold rates from leading Tamil Nadu-based jeweller shops for April 7, thereby offering a snapshot of prevailing gold and silver prices in the city.

Gold Rate In Chennai's Leading Jewellery Shops Today

In Chennai, major jewellers reported a uniform increase in gold rates across all purities. The price of 22 karat gold rose to ₹14,100 per gram on April 8, up from ₹13,735 recorded a day earlier. Similarly, 24 karat gold climbed to ₹15,393 per gram from ₹14,995, marking a significant jump. The upward trend extended to lower purities as well, with 18 karat gold increasing to ₹11,545 from ₹11,246 and 14 karat gold reaching ₹8,979 from ₹8,746.

Jewellery retailers across the city echoed similar pricing patterns. While most outlets aligned with the ₹14,100 benchmark for 22 karat gold, a few stores quoted slightly higher rates of ₹14,200 per gram. For 24 karat gold, select jewellers reported prices as high as ₹15,491 per gram, indicating minor variations based on sourcing and pricing strategies.

Silver prices also witnessed an increase alongside gold. The metal was priced at ₹265 per gram on April 8, compared to ₹255 the previous day, continuing its gradual upward movement.

The rise in prices is not an isolated development. Data from April 3 indicates that gold had already been on an upward trajectory earlier this month. On that day, 22 karat gold was priced at ₹13,835 per gram, up from ₹13,655 on April 2. Similarly, 24 karat gold rose to ₹15,104 from ₹14,907, suggesting a consistent increase over the past week.

The trend was mirrored in other parts of Tamil Nadu as well. In Coimbatore, 24 karat gold prices increased to ₹15,382 per gram on April 8 from ₹14,984 the previous day, while 22 karat gold rose to ₹14,100 from ₹13,735. Bulk rates also reflected this rise, with 10 grams of 24 karat gold priced at ₹1,53,820 compared to ₹1,49,840 earlier.

Market observers attribute the steady rise in gold prices to a combination of global and domestic factors, including fluctuations in international bullion markets, currency movements, and seasonal demand. The ongoing wedding season in Tamil Nadu has further contributed to sustained demand, supporting higher price levels.

Above graph shows the price moments of Gold in last 10 days

Jewellers noted that despite the increase, customer footfall remains steady. However, there is a visible shift in buying patterns, with some customers opting for lighter jewellery or lower purity options to manage costs.

Silver, too, has seen incremental growth over the past week. Earlier in April, it was priced around ₹255 per gram in most outlets, and the current rate of ₹265 indicates a steady upward movement in line with gold.

Overall, the gold market in Tamil Nadu continues to show strong momentum, with prices maintaining an upward trend across major cities and retail chains. Industry experts suggest that buyers may continue to monitor the market closely in the coming days, as further fluctuations are expected depending on global economic cues and local demand conditions.