Gold prices in Chennai experienced a decline today, May 12, 2025, following easing geopolitical tensions and improving global market sentiment.(The Economic Times)
Chennai Gold Prices:
- 24 Karat (999) Gold: ₹9,688 per gram (down ₹180 from yesterday)
- 22 Karat Gold: ₹8,880 per gram (down ₹165)
- 18 Karat Gold: ₹7,320 per gram (down ₹135)(Goodreturns)
These rates are applicable for 1 gram purchases; prices for 8 grams, 10 grams, and 100 grams are proportionally higher. Note that these figures exclude GST, TCS, and other levies. (Goodreturns)
MCX Gold Futures:
Gold futures for June 2025 on the Multi Commodity Exchange (MCX) fell over ₹4,000 to ₹92,588 per 10 grams, marking a decline of more than 4%. This drop is attributed to investors moving away from safe-haven assets amid easing global uncertainties. (mint)
The intraday low was ₹92,389, with a high of ₹95,500. The previous close was ₹96,518. (mint)
Market Factors:
- Geopolitical Developments: A ceasefire agreement between India and Pakistan and a temporary US-China trade deal have alleviated market concerns.
- Investor Behavior: The strengthening US dollar and improved global market confidence have led investors to shift from gold to equities. (mint)
Outlook:
Analysts suggest that gold prices may continue to face downward pressure if global economic conditions remain stable. Investors are advised to monitor geopolitical developments and market trends closely.
For the most accurate and up-to-date information, it’s recommended to consult local jewellers and financial advisors.