Gold & Silver Price In Chennai On March 9: Is It Cheaper Or Costlier Today In TN Capital?

Gold prices in Chennai witnessed a slight dip on Monday, March 9, offering some relief to buyers after weeks of strong upward momentum in the precious metals market. Despite the marginal decline, the yellow metal continues to trade at historically high levels, reflecting strong global demand and ongoing economic uncertainties.

According to the latest market data on Bullions website, 24-karat gold is priced at ₹16,114 per gram in Chennai on Monday. The price for 10 grams stands at ₹1,61,140, while 100 grams costs ₹16,11,400. Meanwhile, 22-karat gold, which is commonly used for jewellery, is being sold at ₹14,771 per gram, with 10 grams priced at ₹1,47,712.

Jewellers say that while the daily fluctuation appears small, gold prices have remained elevated due to strong international cues and steady demand from investors who view the metal as a safe-haven asset.

The price trend over the past few days indicates a mild correction. On March 8, 24-karat gold was priced at ₹1,62,460 per 10 grams, meaning prices have fallen by about 0.81% in a day. The weekly comparison shows an even sharper correction. On March 2, the same quantity was priced at ₹1,66,920, reflecting a 3.46% decline over the past week.

However, the broader trend still points upward. Compared with a month ago, when 24-karat gold was trading at ₹1,55,440 per 10 grams, the metal has gained around 3.67%. The long-term growth is even more striking. A year ago, on March 9, 2025, 10 grams of 24-karat gold cost ₹86,230. This means prices have surged by nearly 86.87% in just one year, highlighting the remarkable rally in the bullion market.

Other gold purity levels have also followed the same trend. 20-karat gold is currently priced at ₹13,428 per gram, while 18-karat gold stands at ₹12,086 per gram. Lower purity variants such as 14-karat and 10-karat gold are available at ₹9,400 and ₹6,714 per gram, respectively.

Silver prices have also recorded a slight decline in Tamil Nadu. 999 fine silver is currently priced at ₹264 per gram, with one kilogram costing ₹2,64,180. This represents a 1.85% drop compared with the previous day, when silver was priced at ₹2,69,160 per kilogram.

Like gold, silver has also seen strong long-term growth. Over the past year, the price of 999 silver has jumped from ₹97,500 per kilogram to the current levels, marking a massive 170.95% increase.

Market analysts say global geopolitical tensions, currency fluctuations and strong investor demand continue to influence precious metal prices. With wedding season demand expected to pick up in the coming months, jewellers in Chennai believe gold prices could remain volatile but firmly supported in the near term.