Gold and silver prices moved higher in Chennai on Monday, January 12, mirroring firm trends in the domestic and global bullion markets. According to bullion market data,
gold is trading at Rs 1,39,400, while silver has climbed to Rs 2,52,380 in the city. The rise in precious metal prices comes amid sustained global uncertainty, fluctuations in currency markets and continued investor preference for safe-haven assets. Market participants in Chennai said demand for physical gold remains steady, supported by the ongoing wedding season and long-term investment interest, even as elevated prices have prompted some buyers to adopt a wait-and-watch approach. Silver prices have also strengthened, aided by both investment demand and industrial usage. Traders noted that Chennai, traditionally one of India’s key gold consumption centres, continues to see consistent interest from retail buyers, bullion traders and jewellers despite periodic price volatility. Analysts pointed out that domestic bullion prices are being influenced by global cues such as bond yield movements, geopolitical tensions and expectations around interest rate policies of major central banks. In addition, movements in the rupee against the US dollar are playing a critical role, as any weakness in the local currency tends to push up imported commodity prices, including gold and silver. Looking ahead, bullion traders in Chennai expect prices to remain sensitive to global macroeconomic developments and currency fluctuations. With uncertainty still dominating global markets, gold and silver are likely to stay in focus for both investors and consumers in the city in the near term.
