Gold & Silver Rate Today In Chennai: Is It Cheaper Or Costlier On Feb 6?

Gold prices in Chennai witnessed a mild upward movement on Friday, February 6, while silver prices registered a notable decline, reflecting mixed trends in the precious metals market. The latest rates were updated at 11:20 AM.

According to market data on bullions website, 24 karat gold-the benchmark for purity-was priced at ₹15,316 per gram, taking the cost of 10 grams to ₹1,53,160. On a larger scale, 100 grams of 24K gold stood at ₹15.32 lakh, while one kilogram was valued at ₹1.53 crore. The price of one tola of 24 karat gold was quoted at ₹1,78,643.

The yellow metal recorded a 0.35 per cent increase, with the price of 24 karat gold per 10 grams rising to ₹1,52,620, indicating steady demand despite global uncertainties and fluctuating currency movements.

Among other variants, 22 karat gold, widely preferred for jewellery, was priced at ₹14,040 per gram and ₹1,40,397 per 10 grams in Chennai. 18 karat gold, commonly used for studded jewellery, was selling at ₹11,487 per gram, while 14 karat gold stood at ₹8,934 per gram, the data said. Lower purity options such as 12 karat and 10 karat gold were priced at ₹7,658 and ₹6,382 per gram respectively.

In contrast to gold's marginal gains, silver prices declined sharply in the Chennai market. 999 fine silver was priced at ₹239 per gram, translating to ₹23,937 for 100 grams and ₹2,39,370 per kilogram. The metal saw a 3.32 per cent drop, with the benchmark rate for 1 kg of silver falling to ₹2,47,590.

Sterling silver (925) was quoted at ₹221 per gram, while 900 coin silver and 800 German silver were priced at ₹215 and ₹191 per gram respectively.

Market analysts attribute the decline in silver prices to profit booking and volatility in international commodity markets, while gold continues to find support amid safe-haven buying. Jewellers and traders in Chennai are closely watching global cues, especially movements in the US dollar and bond yields, which are expected to influence prices in the coming days.