Chennai Gold Price Plummets by ₹70 as Silver Remains Unchanged

Chennai's gold market saw a decline in prices on August 27, 2026. The Madras Jewellers & Diamond Traders Association (MJDTA) reported that 22-carat gold prices dropped by ₹70 per gram, reaching ₹14,940 per gram. This change affected the price of 18-carat gold as well, which now stands at ₹12,710 per gram.

The silver rate in Chennai remained unchanged, holding steady at ₹265 per gram. To put this into perspective, an 8-gram (1 sovereign) piece of 22K gold would cost approximately ₹1,19,520, excluding additional costs such as jewellery making charges and GST.

Gold prices are known to fluctuate due to various economic factors like international bullion prices, currency movements, market demand, and others. Prospective buyers are advised to verify the current price with their jeweller before making a purchase.