Chennai Gold and Silver Prices Plummet Amid Global Tensions

On March 23, 2026, gold and silver prices in Chennai saw a notable decline due to rising global tensions and a stronger US dollar. The latest rates reveal significant drops in both gold and silver, with gold prices for 24 karat at Rs 14,128 per gram. The article explores the factors influencing these changes, including the impact of the Iran-Israel conflict and recent government policies. Stay informed about the latest market trends and how they affect your investments.

By Narendra Chaudhary Mar 23, 2026, 12:24 IST

Current Trends in Gold and Silver Prices

On March 23, 2026, gold and silver prices in Chennai experienced a significant decline, continuing a downward trend. This drop is attributed to rising tensions from the ongoing Iran-Israel conflict and a strengthening US dollar, which have led investors to shy away from precious metals. Below are the updated gold rates in Chennai for today, including prices for 22 carat and 24 carat gold, listed per gram and per 8 grams (one sovereign). The table also reflects the day-to-day changes in prices for gold and silver, providing insight into market movements prior to visiting local jewellers.

Gram (Gold Prices In Chennai)	Today	Yesterday	Change
1	Rs 14,128	Rs 14,858	- Rs 730
8	Rs 1,13,024	Rs 1,18,864	- Rs 5,840
10	Rs 1,41,280	Rs 1,48,580	- Rs 7,300
100	Rs 14,12,800	Rs 14,85,800	- Rs 73,000

Today's Gold Rates in Chennai

As of today, the price for 24 karat gold (99.9% purity) stands at Rs 14,128 per gram, while 22 karat gold (91.6% purity) is priced at Rs 12,950 per gram, and 18 karat gold (75% purity) at Rs 10,800 per gram. Since the beginning of the year, gold rates in Chennai have shown a consistent trend, primarily driven by increased demand for jewellery rather than gold bars or coins.

Currently, silver is trading at Rs 235 per gram and Rs 2,35,000 per kilogram in Chennai. Various factors influence these prices, including a recent hike in excise duty on gold by the government, which has led rural investors to consider silver as a more appealing alternative. Additionally, international silver prices have approached $15 per ounce due to stable global demand.

Factors Behind the Price Drop

Gold and silver prices in India began the week on a low note, reflecting losses in the global bullion markets. The escalating US-Iran conflict has raised inflation concerns and heightened expectations for increased interest rates globally. On the Multi Commodity Exchange (MCX), gold opened nearly 3% lower at Rs 1,40,158 per 10 grams, down from the previous close of Rs 1,44,492, and reached an intraday low of Rs 1,37,377, marking a decline of approximately 4.9%. Internationally, gold has fallen over 5% in early Asian trading, dipping below the crucial $4,400 per ounce threshold, while silver has plummeted more than 6% to around $65 per troy ounce, extending a nine-session losing streak.