Chennai Gold & Silver Price On February 10: Rates Ease Slightly as Yellow Metal Sees Mild Correction

Gold prices witnessed a mild dip on Tuesday morning, February 10, offering some relief to buyers in Chennai amid a broader correction in the bullion market.

As per the latest available rates from Tamil Nadu on Bullions on website, gold prices slipped marginally across carats, tracking weakness in both domestic and global cues.

According to the bulletin issued at 9:15 AM, 24-carat gold was priced at ₹15,763 per gram, while 22-carat gold stood at ₹14,449 per gram. In terms of standard retail measurement, 10 grams of 24-carat gold cost ₹1,57,630, while 22-carat gold was available at ₹1,44,494 per 10 grams.

For investors and bulk buyers, 100 grams of 24-carat gold was priced at ₹15.76 lakh, while one kilogram touched ₹1.57 crore, reflecting the continued strength of gold despite short-term volatility. The price of one tola of 24-carat gold stood at ₹1,83,857, a key reference point for traditional buyers.

Lower-purity gold variants also mirrored the downward trend. 20-carat gold was priced at ₹13,136 per gram, 18-carat at ₹11,822, and 14-carat gold at ₹9,195 per gram. These categories are widely used in jewellery making, especially in urban markets like Chennai, where demand for lightweight and designer jewellery remains steady.

Market data indicates that 24-carat gold prices declined by 0.75 per cent, settling at ₹1,58,820 per 10 grams, while silver (999 purity) saw a sharper fall of 1.76 per cent, with prices dropping to ₹2,64,040 per kilogram. The correction in silver has also influenced sentiment in the bullion trade, particularly among short-term traders.

Jewellers in Chennai say the slight dip has sparked cautious interest among buyers, especially with the wedding season and upcoming festive demand in mind. However, many customers remain price-sensitive, closely tracking daily movements before making large purchases.

Analysts attribute the softness in gold prices to profit booking at higher levels and mixed global signals, including movements in the US dollar and bond yields. While gold continues to be viewed as a safe-haven asset, experts believe near-term fluctuations are likely before the next decisive trend emerges.

With prices still hovering near record levels, market participants in Chennai are expected to remain watchful, balancing long-term investment appeal against short-term volatility in the precious metals market.