Chennai: On the auspicious day of Akshaya Tritiya, ornamental gold prices in Chennai have dropped by ₹480 per sovereign (8 grams) and ₹60 per gram, offering a welcome relief to buyers looking to purchase jewellery for the festival. Today’s selling price stands at ₹14,300 per gram and ₹114,400 per sovereign.
Gold and Silver Rate today
While gold prices fluctuated throughout the past week, the price of gold has declined today. Meanwhile, silver prices have remained unchanged, continuing to be sold at ₹280 per gram, with a kilogram silver bar priced at ₹280,000.
Recent Gold price movement
On April 15, gold was sold at ₹14,320 per gram and ₹114,560 per sovereign. On April 16, one gram was sold for ₹14,360 and one sovereign for ₹114,880. On April 17, prices dropped to ₹14,210 per gram and ₹113,680 per sovereign. On April 18, prices rose back to ₹14,360 per gram and ₹114,880 per sovereign. On April 19, there was no change in gold prices.
Fluctuating Gold prices over two years
The intrinsic value of gold has been increasing day by day. Consequently, jewelry enthusiasts are competing with one another to purchase and stockpile jewelry. A large number of people are buying gold—both as a form of future savings and due to the belief that investing in gold never results in a loss. In this context, gold—which was sold at ₹55,000 per sovereign at the beginning of 2025—skyrocketed to reach ₹134,000 per sovereign by the start of 2026, leaving jewelry lovers reeling in astonishment.
Impact of Iran-US conflict on Gold prices
Following this surge, while it was widely expected that gold prices would rise even further due to the conflict between Iran and the United States, a surprising turn of events occurred: as investments shifted toward crude oil, gold prices began to decline. The price of gold, which had stood at ₹134,000, dropped to trade at ₹100,000. However, in the subsequent days, gold prices began to rise once again, driven by the ongoing conflict, and started trending upward over the course of the past week alone.
Akshaya Tritiya significance
Akshaya Tritiya is considered one of the most auspicious days to purchase gold, as it is believed to bring prosperity and good fortune. The price drop on this day is expected to boost jewellery sales across the city, with buyers eager to take advantage of the reduced rates.