Gold & Silver Price In Chennai Today: Is It Costlier Or Cheaper On February 4 In Tamil Nadu?

Gold and silver prices in Chennai and across Tamil Nadu opened on a firm note today, February 4, reflecting strong global cues and sustained domestic demand for precious metals. According to the latest update issued at 9:50 am (India Time), gold rates have surged sharply, while silver has also registered notable gains, making today an important watchpoint for investors, jewellers, and retail buyers in the state.

Gold prices surge across Tamil Nadu

Gold prices in Tamil Nadu are trading slightly higher today, with 24 karat gold-the purest form of the yellow metal-priced at ₹15,979 per gram, as per Bullions data. This translates to ₹1,59,790 for 10 grams and ₹15.97 lakh for one kilogram. In Chennai's bullion and jewellery markets, this rise is being closely tracked as it marks a strong upward movement compared to recent sessions.

Meanwhile, 22 karat gold, which is widely used for jewellery purchases in Tamil Nadu, is priced at ₹14,647 per gram and ₹1,46,474 per 10 grams, the data said. For consumers planning wedding or festive purchases, this uptick means higher acquisition costs, especially as demand typically remains steady in urban centres like Chennai, Coimbatore, Madurai, and Trichy.

Other gold variants are also trading higher. 18 karat gold stands at ₹11,984 per gram, while 20 karat gold is priced at ₹13,316 per gram. Lower-purity options such as 14 karat and 10 karat gold are quoted at ₹9,321 and ₹6,658 per gram respectively, catering to buyers looking for more affordable jewellery alternatives.

Market data shows that the price of 24 karat gold (per 10 grams) has increased by around 3.77 per cent, indicating a strong bullish trend in the domestic market.

Silver prices show strong momentum

Silver prices in Tamil Nadu have also recorded a sharp rise today. Silver 999 fine, the most commonly tracked purity, is priced at ₹283 per gram and ₹2,82,950 per kilogram. In Chennai's silver markets, this jump is significant, especially for industrial users and investors who track silver as both a precious and industrial metal.

Sterling silver (925 purity) is trading at ₹262 per gram, while silver coin (900 purity) stands at ₹255 per gram. German silver (800 purity), often used for decorative and utility items, is priced at ₹226 per gram.

On a broader scale, silver 999 prices per kilogram have risen by about 5.50 per cent, underlining the metal's strong upward momentum in recent days.

What's driving the rise?

Analysts attribute the rise in gold and silver prices to a combination of global uncertainty, firm international bullion prices, and currency fluctuations. A softer rupee against the US dollar often makes imported gold and silver more expensive, directly impacting domestic prices in states like Tamil Nadu, which has high consumption levels.

In Chennai, jewellers say footfall remains steady despite higher prices, as many buyers continue to view gold as a long-term investment and a hedge against inflation. Silver, too, is gaining traction among investors looking for relatively lower-priced entry points into precious metals.

As prices remain volatile, market experts advise buyers to track daily movements closely and consider making purchases in phases rather than in bulk. With wedding season demand and global factors in play, gold and silver rates in Tamil Nadu are likely to remain in focus in the coming days.