What is the price of 1 gram of gold in Chennai today

The current price of 1 gram of gold in Chennai today is subject to fluctuations based on various factors such as global market trends, local demand, and economic conditions. You can monitor it on our gold rate page for real-time updates. Factors such as purity, making charges, and taxes may also influence the final price. Investors and jewellery buyers often keep a close watch on gold rates to make informed decisions regarding buying or selling gold. Additionally, understanding the trends and patterns in gold prices can help individuals plan their investments or purchases effectively. As such, staying updated on the 1-gram gold price in Chennai is crucial for anyone interested in gold trading or investment opportunities.

The 1 gram gold price today in Chennai is influenced by various factors, including global market trends, local demand-supply dynamics, economic conditions, and currency fluctuations. Global market trends, such as changes in the price of gold in international markets, play a significant role in determining local gold prices. Local demand for gold, driven by factors like festivals, weddings, and investment preferences, also impacts prices. Economic conditions, including inflation rates, interest rates, and geopolitical tensions, can affect investor sentiment and influence gold prices. Additionally, currency fluctuations, particularly the value of the Indian Rupee against major currencies like the US Dollar, can influence gold prices in Chennai. It's essential to monitor these factors closely to understand and anticipate changes in the 1 gram gold price, enabling individuals to make informed decisions regarding gold investments or purchases in Chennai.

Techniques to check the purity of 1 gram gold in Chennai

Checking the purity of gold involves several simple techniques that can be done. These techniques can offer a basic understanding of gold purity, but for precise measurements. It is recommended to consult a certified jeweller or a professional gold assayer, especially when considering the gold rate in Ludhiana.

1. Use a magnifying glass: Examine the gold for hallmarks or stamps indicating purity.
2. Visual inspection: Look for discolouration or signs of tarnishing, which may suggest impurities.
3. Magnetic test: Real gold is not magnetic, so using a magnet can help differentiate it from other metals.
4. Nitric acid test: This involves using nitric acid to test the gold, but it is best conducted by a professional due to the use of chemicals.

Remember, while these methods provide basic insights, for accurate results, it is advisable to seek assistance from a certified jeweller or a professional gold dealer, when considering the gold price in Ludhiana.

How does the rise in gold rate change gold loan dynamics in Chennai?

The rise in gold prices significantly influences the dynamics of gold loan in Chennai. As gold values surge, borrowers stand to benefit from improved loan-to-value ratios, enabling them to access larger loan amounts against their gold collateral. Utilising tools like a gold rate calculator becomes essential for borrowers to precisely assess their gold's current value and determine their borrowing capacity accurately. This ensures borrowers can make informed decisions regarding loan amounts and repayment terms tailored to their financial needs and the prevailing market conditions.

Moreover, escalating gold prices often attract a higher influx of borrowers seeking financial assistance by leveraging their gold assets. This heightened demand can lead to increased competition among lenders, potentially resulting in more favourable loan terms for borrowers. With access to multiple repayment options and competitive gold loan interest rates, gold loans emerge as a convenient and accessible borrowing option in Chennai's financial landscape.

By leveraging the flexibility and security provided by gold loans, individuals in Chennai can navigate financial challenges confidently and access the funds they need to fulfil their goals.

How to check one gram gold price in Chennai

Tracking the gold price in Chennai is essential if you plan to invest in or purchase gold. The rates fluctuate daily due to factors like global market trends, currency exchange rates, and local demand. Fortunately, it’s easy to stay updated with real-time gold prices:

1. Online platforms: Various financial websites provide updated gold rates for Chennai, often displaying prices for different purities, such as 24K and 22K, making it easier to compare.
2. Jewellery stores: Many jewellers in Chennai prominently display the latest gold prices. You can either visit the stores, call, or check their websites for the most recent rates.
3. Mobile apps: Gold price tracking apps offer a user-friendly way to check real-time rates and view historical trends anytime, anywhere.
4. News channels and newspapers: Financial news channels and daily newspapers frequently provide the latest gold rates as part of their updates.
5. Bullion associations: Chennai’s bullion associations regularly publish official gold prices that reflect the rates used in local trading.

Keeping informed ensures you make well-informed decisions for both investments and personal purchases. Confirming prices from multiple sources is wise, as small variations may arise due to taxes or additional charges.

1-gram gold price trends in Chennai over the years

Gold prices in Chennai have shown a consistent upward trajectory over the years, influenced by inflation, currency value changes, and global events. Gold has historically been a preferred safe haven during economic uncertainty.

For example, during the global COVID-19 pandemic, gold prices reached unprecedented highs due to increased demand. Similarly, inflationary pressures have consistently driven prices up, reinforcing gold’s reputation as a reliable hedge against economic downturns.

Here’s a table illustrating historical gold rates per gram (24K):

Year	Price (24 karat per gram)
1964	Rs.6.33
1965	Rs.7.18
1966	Rs.8.38
1967	Rs.10.25
1968	Rs.16.20
1969	Rs.17.60
1970	Rs.18.40
1971	Rs.19.30
1972	Rs.20.20
1973	Rs.27.85
1974	Rs.50.60
1975	Rs.54.00
1976	Rs.43.20
1977	Rs.48.60
1978	Rs.68.50
1979	Rs.93.70
1980	Rs.133.00
1981	Rs.167.00
1982	Rs.164.50
1983	Rs.180.00
1984	Rs.197.00
1985	Rs.213.00
1986	Rs.214.00
1987	Rs.257.00
1988	Rs.313.00
1989	Rs.314.00
1990	Rs.320.00
1991	Rs.346.60
1992	Rs.433.40
1993	Rs.414.00
1994	Rs.459.80
1995	Rs.468.00
1996	Rs.516.00
1997	Rs.472.50
1998	Rs.404.50
1999	Rs.423.40
2000	Rs.440.00
2001	Rs.430.00
2002	Rs.499.00
2003	Rs.560.00
2004	Rs.585.00
2005	Rs.700.00
2007	Rs.1,080.00
2008	Rs.1,250.00
2009	Rs.1,450.00
2010	Rs.1,850.00
2011	Rs.2,640.00
2012	Rs.3,105.00
2013	Rs.2,960.00
2014	Rs.2,800.65
2015	Rs.2,634.35
2016	Rs.2,862.35
2017	Rs.2,966.75
2018	Rs.3,143.80
2019	Rs.3,522.00
2020	Rs.4,865.10
2021	Rs.4,872.00
2022	Rs.5,267.00
2023	Rs.6,533.00
2024 (Till Today)	Rs.7,151.00

These trends emphasise gold’s appeal as a long-term investment. Monitoring these changes can help investors and buyers determine the best times to buy or sell. For jewellery purchases, it’s particularly useful to identify lower price points during the year.

Chennai’s gold market aligns with global markets, but local factors such as festive season demand also influence rates. To anticipate price movements effectively, consider global and domestic factors, ensuring informed buying decisions.

Gold rate per gram in Chennai for different purity levels

Gold prices vary by purity, with 24K and 22K being the most common in Chennai. Each serves different purposes, impacting their price.

• 24K gold: Known as pure gold (99.9% purity), it is ideal for investments like coins or bars but unsuitable for jewellery due to its softness. This purity commands a premium price.
• 22K gold: Comprising 91.6% gold and mixed with alloys like copper or silver, it is more durable and ideal for jewellery. While slightly cheaper than 24K, it’s popular for ornaments.

When purchasing gold, always verify the purity level, as even small differences can lead to significant cost variations. Making charges also add to the cost and depend on the complexity of the jewellery design.

Check the rates for different purities using reliable sources like jewellers, bullion associations, or online platforms to ensure you secure the best deal.

GST impact on 1 gram gold rates in Chennai

The introduction of GST in 2017 brought additional costs to gold purchases. Understanding this impact is vital to planning your expenses. GST on gold is 3% of the base price, with an additional 5% applied to making charges for jewellery.

Here’s how GST affects your gold purchase:

• If 1 gram of gold costs Rs. 5,000, the 3% GST adds Rs. 150 to the price.
• For jewellery-making charges of Rs. 500, a 5% GST adds Rs. 25 more.

Though GST has increased gold costs slightly, it ensures standardisation and transparency in the market. This makes price comparison across sellers easier and allows buyers to make informed decisions.

Always factor in GST while budgeting for gold purchases, particularly during high-demand seasons like weddings or festivals. Request a detailed invoice from your seller for clarity on charges and taxes.

Gold loan interest rates in Chennai based on current gold prices

Gold loan interest rates in Chennai are directly influenced by the fluctuating gold prices. As a popular financial product, gold loans offer a quick and accessible way to raise funds by pledging gold. The interest rate you receive will depend on factors such as the purity and weight of the gold you offer as collateral, in addition to the prevailing gold price in the market.

When gold prices rise, lenders are likely to offer competitive rates because the value of the gold collateral increases. On the other hand, when gold prices fall, lenders may increase interest rates to balance the risk. It’s important for borrowers to compare gold loan rates from various institutions before finalising their decisions. Additionally, factors like loan tenure, repayment options, and extra charges will also influence the total cost of borrowing.

Many financial institutions offer special gold loan schemes to cater to varying borrower needs. Some might provide lower rates for shorter tenures, while others might have flexible repayment options. With the Bajaj Finance Gold Loan borrowers can repay monthly, quarterly, half-yearly or annually, making it easy to maintain cash-flows.

To get the best deal, it is advisable to stay updated on the current gold loan interest rate. Real-time tracking platforms can help you monitor interest rate trends and ensure you make informed borrowing decisions. By understanding the relationship between gold prices and interest rates, you can secure the most advantageous loan deal with minimal financial strain during the repayment period.

How 1 gram gold rate in Chennai impacts loan value

The value of the gold loan you can obtain in Chennai is directly linked to the current 1-gram gold price. This price is used to calculate the loan-to-value (LTV) ratio, which determines the maximum percentage of the gold’s value a lender is willing to offer as a loan. Generally, lenders adhere to a maximum LTV of 75% as per Reserve Bank of India guidelines.

A higher 1-gram gold rate increases the collateral value, enabling borrowers to secure a larger loan amount. For example, if the gold rate is Rs. 5,500 per gram, pledging 100 grams of 22-karat gold (with 91.6% purity) would give an effective gold value of Rs. 5,03,800. At a 75% LTV, the maximum loan amount would be Rs. 3,77,850.

Conversely, if the gold rate drops to Rs. 5,000 per gram, the effective value of 100 grams of 22-karat gold would decrease to Rs. 4,58,000. With the same 75% LTV, the loan amount would drop to Rs. 3,43,500.

This highlights the importance of timing your gold loan application based on the gold price. When gold prices are higher, you can secure a larger loan, maximising the value of your pledged gold. Keeping track of gold prices regularly can help borrowers make informed decisions and optimise their loan amount.

Lenders also assess the purity of the pledged gold. Higher-purity jewellery or coins offer better valuations, enhancing the potential loan value. Borrowers should ensure their gold is clean and marked with its purity before visiting a lender to ensure they receive the most accurate valuation.

Understanding how gold prices impact loan values is crucial for borrowers to maximise their borrowing potential. Whether for personal expenses or business needs, knowing how gold price fluctuations affect loan value allows borrowers to make smarter financial decisions.

How current gold rates affect gold loan EMI options in Chennai

In Chennai, the prevailing gold prices have a significant impact on the EMI options available for gold loans. When you opt for an EMI-based gold loan, you agree to repay the principal amount and interest over a set period. The EMI amount depends on factors such as the loan amount, interest rate, and tenure, all of which are influenced by the current gold price.

When gold prices rise, borrowers can access higher loan amounts, which may result in larger EMIs if the repayment tenure remains unchanged. For instance, if a borrower takes a loan of Rs. 3,00,000 at a 12% annual interest rate for two years, their EMI would be approximately Rs. 14,134. However, if the gold price decreases and the loan amount drops to Rs. 2,50,000, the EMI would decrease to around Rs. 11,778.

In Chennai, borrowers also have the option to select different repayment structures. While EMI-based repayment is the most common, we offer alternative options like monthly, quarterly, half-yearly or annual payments. These options can be beneficial for those who need more flexibility in managing their loan repayment.

To get an accurate picture of the EMI, borrowers can use online EMI calculators, which factor in the current gold loan per gram values and interest rates as well to help them estimate monthly payments. This allows borrowers to choose an EMI plan that best suits their financial capacity and avoid defaults or penalties.

By keeping an eye on gold prices and understanding how they impact your gold loan EMI options, borrowers in Chennai can make informed decisions that help ensure smooth repayment and get the most value from their gold assets.

How to check one gram gold price in Chennai

Knowing the current price of one gram of gold in Chennai is essential for making informed decisions when buying or selling gold. You can easily check the gold rates using the following methods:

• Online portals: Websites such as BankBazaar, GoodReturns, and LiveMint provide up-to-date gold prices for Chennai. These platforms often display gold rates for 22K and 24K purity.
• Jeweller Websites: Leading jewellers like Tanishq, GRT, and Kalyan Jewellers update gold rates regularly on their websites.
• Mobile Applications: Apps dedicated to gold tracking, such as Gold Price Today, offer a convenient way to check live prices.
• Local Jewellers: Visiting or contacting jewellers in your area can give you the latest rates, including any additional charges.
• Bank and News Channels: Banks dealing in gold loans and reputed financial news channels often report gold rate fluctuations.

Stay updated daily, as gold prices vary due to global market trends, currency exchange rates, and local demand. Keeping an eye on these rates helps you time your purchases or investments effectively.

1 gram gold price trends in Chennai over the years

Chennai's gold price trends have witnessed significant changes over the past few years due to economic factors and market conditions. Here is a table illustrating the average annual price for one gram of 24K gold in Chennai:

Year	Price (₹)
2020	4,700
2021	4,800
2022	5,100
2023	5,400
2024	5,600

These changes reflect the influence of factors such as inflation, geopolitical tensions, and currency fluctuations. For instance, during the pandemic, gold prices soared due to its appeal as a safe-haven asset. To understand the trends better, monitor gold rates periodically and compare them with historical data. This knowledge can help you decide the best time to invest or sell gold in Chennai.

Gold rate per gram in Chennai for different purity levels

Gold prices in Chennai vary based on purity levels. Here’s a breakdown of the typical rates:

24K Gold: Known as pure gold, it is priced higher due to its 99.9% purity. Commonly used for investments like gold coins and bars.

22K Gold: Contains 91.6% pure gold and is widely used in jewellery. The price is slightly lower than 24K due to added metals like copper and silver.

18K Gold: Comprising 75% pure gold, it is ideal for lightweight and designer jewellery, offering affordability and durability.

14K Gold: With 58.3% gold, it is the most economical option, popular in contemporary jewellery designs.

Each purity level’s price is influenced by the prevailing 24K rate and adjusted proportionally. The rates also include making charges and GST. Knowing the differences in purity helps you choose the best option for your requirements.

GST impact on 1 gram gold rates in Chennai

The introduction of GST (Goods and Services Tax) in 2017 significantly impacted gold prices in Chennai. Under GST regulations:

• A 3% tax is levied on the gold value.
• An additional 5% GST is applied to making charges for jewellery.

For example, if one gram of gold is priced at ₹5,500, the final cost after GST would be:

• Gold Value (₹5,500) + 3% GST (₹165) + Making Charges (varies).

This taxation system ensures transparency in pricing but also increases the final purchase cost. Buyers should carefully calculate the GST impact when purchasing gold to avoid overpaying.

To mitigate GST costs, you can explore options like investing in gold ETFs or sovereign gold bonds, as these alternatives do not involve making charges. Understanding the GST impact ensures you make cost-effective gold purchases in Chennai.

Gold loan interest rates in Chennai based on current gold prices

Gold loan interest rates in Chennai are closely tied to the prevailing gold prices, making them a key factor for borrowers to consider. Lenders determine the loan amount primarily based on the weight and purity of the pledged gold, along with the current market rates. When gold prices are high, borrowers may secure a higher loan-to-value (LTV) ratio, often reaching up to 75% of the gold's market value. This can also lead to competitive gold loan interest rate, as lenders compete to offer attractive terms.

Conversely, when gold prices dip, the loan amount offered might decrease for the same quantity of gold, as lenders adjust the LTV to minimise risk. Borrowers should also compare processing fees, prepayment penalties, and repayment flexibility when evaluating loan offers.

Additionally, the interest rate can vary depending on the lender, the loan tenure, and the borrower’s credit profile. Using online tools like gold loan calculators can help you estimate the interest rate and total repayment amount based on current gold prices in Chennai.

How 1 gram gold rate in Chennai impacts loan value

The 1-gram gold rate in Chennai plays a crucial role in determining the loan amount offered by financial institutions. Gold loan is calculated based on the weight, purity, and current market value of the pledged gold. If the gold rate per gram increases, borrowers can secure higher loan amounts for the same weight of gold. This is especially beneficial during times of financial urgency, as it allows borrowers to maximise the value of their assets.

For instance, during periods of rising gold prices, the loan-to-value (LTV) ratio increases, enabling higher borrowings. Conversely, when gold prices drop, the loan value decreases proportionally. It’s crucial for borrowers to track gold rates daily, as fluctuations can impact their borrowing power significantly.

In Chennai, where gold is both a cultural and financial asset, staying updated on the 1-gram rate ensures borrowers make timely decisions. Many lenders provide calculators to estimate loan amounts based on the latest gold rates, allowing individuals to plan effectively.

How current gold rates affect gold loan EMI options in Chennai

Current gold rates in Chennai directly influence the EMI options available for gold loans. Higher gold prices allow borrowers to secure larger loans with potentially longer repayment tenures, leading to lower monthly instalments. Conversely, when gold rates drop, the loan amount and tenure options may become limited, potentially increasing the EMI amount.

For example, borrowers who avail themselves of gold loans during high gold price periods can often opt for interest-only EMIs, giving them greater financial flexibility. These options are particularly useful for individuals managing variable incomes, as they allow interest payments during the tenure and principal repayment at the end.

Monitoring gold rates regularly ensures borrowers choose the most suitable repayment strategy. Tools like gold loan EMI calculators are helpful in understanding the impact of gold loan per gram on monthly payments, enabling better financial planning. With Bajaj Finance, borrowers in Chennai can avail flexible repayment schedules, such as monthly, bi-monthly, quarterly, half-yearly or annual payments, tailored to their specific needs.

How to take a gold loan on 1 gram of gold in Chennai

The dynamic relationship between rising gold prices and gold loan dynamics underscores the importance of monitoring market trends and adapting loan strategies accordingly in Chennai's gold loan market.

To get a gold loan in Chennai, you just need your basic KYC documents and your gold jewellery to be pledged. Since the loan is secured against physical gold, credit scores or extensive documentation are not primary approval factors, making it an attractive option even without a high credit score or history.

To apply for a Bajaj Finserv Gold Loan, just follow these few simple steps:

1. Click on ‘APPLY’ to open our online application form
2. Enter your 10-digit mobile number and click on ‘GET OTP’
3. Submit the OTP to verify your identity
4. Select your state and city to find the branch nearest to you
5. Enter your full name and date of birth as per your PAN
6. Set up your appointment at our branch

Once done, you will receive a call from our representative to confirm your appointment and guide you on the next steps.

Know more about gold rates in Indian states and Union Territories

Gold rate in Andhra Pradesh	Gold rate in Tamil Nadu	Gold rate Delhi
Gold rate in Maharashtra	Gold rate in Karnataka	Gold rate in Goa
Gold rate in Punjab	Gold rate in Rajasthan	Gold rate in Chandigarh

Learn more about gold rates in other cities

Gold rate in Vadodara	Gold rate in Madurai	Gold rate in Trichy
Gold rate in Chennai	Gold rate in Pune	Gold rate in Vijayawada
Gold rate in Kolkata	Gold rate in Visakhapatnam	Gold rate in Ludhiana
Gold rate in Ahmedabad	Gold rate in Surat	Gold rate in Nellore
Gold Rate in Firozabad	Gold rate in Amritsar	Gold rate in Salem
Gold rate in Hyderabad	Gold rate in Coimbatore	Gold rate in Vellore
Gold rate in Dehradun	Gold rate in Guntur	Gold Rate In Udhampur

 

Latest 22 carat gold price updates for major Indian cities

22 Carat Gold Rate in Chandigarh	22 Carat Gold Rate in Amritsar	22 Carat Gold Rate in Ludhiana
22 Carat Gold Rate in Nashik	22 Carat Gold Rate in Faridabad	22 Carat Gold Rate in Allahabad
22 Carat Gold Rate in Rajkot	22 Carat Gold Rate in Kanpur	22 Carat Gold Rate in Salem
22 Carat Gold Rate in Nagpur	22 Carat Gold Rate in Agra	22 Carat Gold Rate in Berhampur