Chennai Gold Rates Climb for 2nd Day, 10g Above Rs 1.51 Lakh

Gold prices in Chennai rose for the second consecutive day on Saturday, with 10 grams of 24K gold breaching the Rs 1.51 lakh mark. The 100-gram bar surged by Rs 6,500, the highest among major Indian cities. MCX futures held above Rs 1.50 lakh, while spot gold reclaimed $4,200

13 June 2026 at 10:38 pm

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Chennai Gold Rates Climb for 2nd Day, 10g Above Rs 1.51 Lakh

Gold prices in Chennai extended their upward momentum for a second consecutive day on Saturday, with 10 grams of 24-karat gold breaching the Rs 1. 51 lakh mark. The latest surge comes as bullion continues to attract strong investor interest amid global economic uncertainties. According to market data, 10 grams of 24K gold was quoted above Rs 1,51,000 in Chennai on June 13, 2026. The 100-gram bar recorded a sharp increase of Rs 6,500, marking the steepest single-day rise among all major Indian cities tracked by bullion dealers.

The rally was not limited to physical gold. On the Multi Commodity Exchange (MCX), gold futures for the near-month contract held firmly above the Rs 1. 50 lakh per 10 grams level, indicating sustained bullish sentiment among traders and speculators. Internationally, spot gold reclaimed the psychologically important $4,200 per ounce mark during the trading session. The global benchmark has been volatile in recent weeks, driven by shifting expectations around central bank policies and geopolitical risks.

Chennai has traditionally been one of India's most active gold markets, with demand often peaking during wedding seasons and festive periods. The current price trend suggests that buyers are adjusting to higher levels, though some dealers report cautious buying at these elevated rates. The Rs 6,500 jump in the 100-gram price in Chennai outpaced gains in other metropolitan centers such as Mumbai, Delhi, and Kolkata. Analysts attribute the regional variation to local supply dynamics and dealer inventory adjustments.

Gold prices have been on an upward trajectory globally, supported by central bank purchases and a weaker U. The Federal Reserve's recent signals on interest rates have also contributed to the metal's appeal as a hedge against inflation. In India, the domestic price of gold is influenced by the international rate, the rupee-dollar exchange rate, and import duties. The government has maintained the import duty on gold at elevated levels in recent years to manage the current account deficit.

Jewelers in Chennai reported steady footfall on Saturday, though some customers opted for lighter pieces or exchanged old jewelry to offset the higher cost. The industry expects demand to remain resilient as the wedding season approaches. Market participants will now watch for further cues from global macroeconomic data and any policy announcements from the Reserve Bank of India that could impact liquidity and gold imports. For now, the momentum remains firmly in favor of the bulls.

Source: goodreturns

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