Chennai, Apr 27: Gold prices witnessed a modest rise at the start of the week, mirroring broader national and global trends, with jewellers and investors in the city closely tracking the fluctuations. According to latest market updates, gold prices across India saw a slight uptick on April 27, continuing a pattern of volatility influenced by global economic cues and geopolitical tensions. In Chennai, the price of gold remains at elevated levels despite minor day-to-day corrections. As per recent data, 24-carat gold is trading at around ₹15,300–₹15,380 per gram, while 22-carat gold is hovering near ₹14,000–₹14,100 per gram. Jewellers say the rates have seen marginal declines compared to the previous day, but overall prices remain high. “Gold prices are fluctuating almost daily.
Even a small global trigger is impacting local rates,” said a city-based bullion trader in T. Nagar. “Customers are cautious, but long-term buyers are still investing. Market experts attribute the current trend to multiple global factors, including geopolitical tensions and rising oil prices, which have increased demand for gold as a safe-haven asser. Uncertainty in international markets, particularly developments involving the US and Iran, continues to influence bullion prices. Local jewellers in Chennai note that demand has been mixed. While wedding-related purchases continue, casual buyers are holding back due to high prices.
“Footfall is steady because of the wedding season, but people are buying lighter jewellery or postponing big purchases,” said a retailer from Sowcarpet. “If prices soften, demand will definitely pick up.” Data also indicates that gold prices in Tamil Nadu have remained significantly higher through April compared to earlier months, reflecting sustained demand and constrained supply conditions. Analysts suggest that gold prices may remain volatile in the coming days, with key levels being closely watched by traders. Any major global development could push prices further up or trigger corrections. For Chennai consumers, experts advise tracking daily rates and making purchases based on need rather than speculation, as the market continues to remain unpredictable.