Chennai Gold Prices Dip Slightly as August Rally Continues

Gold prices in Chennai experienced a slight decline on August 10, following a strong rally that pushed gold above ₹15,000 per gram. The current price of 24-karat gold is ₹15,218 per gram, down ₹17 from the previous session.

The recent jump in gold prices was significant, with 24K gold gaining more than ₹600 per gram between August 5 and August 8. However, today's decline looks modest compared to the gains accumulated over the past week.

According to HDFC Sky, the current price of 22-karat gold is ₹13,950 per gram, down ₹15 from the previous session. The prices have been influenced by various factors, including international bullion prices, movements in the rupee against the US dollar, inflation expectations, central bank policies, import duties, and geopolitical developments.