Gold & Silver Price In Chennai On March 7: Is It Costlier Or Cheaper In Tamil Nadu Capital Today?

Gold prices in Chennai remained firm on Saturday, March 7, reflecting continued strength in the precious metals market amid global uncertainty and steady local demand. The latest market update at 10:05 AM on Bullions website showed that the price of 24-karat gold stood at Rs 16,243 per gram, taking the price of 10 grams to Rs 1,62,430 in the city.

Gold continues to attract investors and jewellery buyers alike, especially in South India where the metal holds both cultural and financial significance. Jewellers in Chennai say demand has remained steady despite elevated prices, particularly with the wedding season continuing across many parts of the country.

According to the latest rates, 22-karat gold, the most commonly purchased variant for jewellery, was priced at Rs 14,889 per gram. This translates to Rs 1,48,894 for 10 grams and Rs 14,88,942 for 100 grams. The price of 1 kilogram of 22-karat gold was listed at Rs 1,48,89,417, the data said.

For investors tracking pure gold, 24-karat gold prices were recorded at Rs 1,624,300 for 100 grams and Rs 16,243,000 for one kilogram. In international weight measures, one ounce of 24-karat gold was priced at Rs 4,60,481, while one tola was valued at Rs 1,89,455.

Other gold purity levels also reflected similar pricing trends. 20-karat gold was priced at Rs 13,536 per gram, while 18-karat gold was trading at Rs 12,182 per gram. Lower purity variants such as 14-karat gold and 10-karat gold were listed at Rs 9,475 per gram and Rs 6,768 per gram respectively.

Meanwhile, silver prices in Tamil Nadu also remained strong on Saturday. The rate for 999 fine silver, considered the purest form used for investment and bullion, stood at Rs 269 per gram. This pushed the price of 10 grams to Rs 2,691 and 100 grams to Rs 26,911.

For bulk buyers and investors, 1 kilogram of 999 fine silver was priced at Rs 2,69,110. In other standard measurements, one ounce of silver was valued at Rs 7,629, while one tola was priced at Rs 3,139.

Other silver variants were also trading at notable levels. 925 sterling silver, commonly used in ornaments and decorative items, was priced at Rs 249 per gram, while 900 coin silver stood at Rs 242 per gram. 800 German silver, often used for utensils and decorative pieces, was priced at Rs 215 per gram.

Market analysts say precious metal prices are being influenced by a mix of global factors including currency movements, geopolitical tensions, and investor demand for safe-haven assets. When economic uncertainty rises, investors often turn to gold and silver as a store of value.

In Chennai's retail jewellery market, traders note that customers are closely tracking daily price movements before making purchases. While some buyers are waiting for a slight correction, others are continuing to invest gradually, expecting prices to remain strong in the long term.

With festivals and weddings continuing through the year, gold and silver are expected to remain key assets for both traditional buyers and investors in the coming months.