Gold Rate Today in Chennai

Sovereign first: how Chennai quotes gold

Ask a Chennai family how much gold went into a wedding and the answer comes in sovereigns, or pavun, not grams. One sovereign is 8 grams, so a "10 pavun" necklace weighs 80 grams. Showroom boards in the city list the 22K rate per gram and per sovereign side by side, and the per-sovereign figure is simply eight times the gram rate. The live table follows the same convention.

Chennai's daily rate is widely reported across Tamil Nadu. Local jewellers' bodies publish a morning rate that most shops follow closely, and newspapers and TV channels in the state carry it. That rate starts from the same landed cost as the rest of India: international price × USD/INR + 6% customs duty, with a dealer premium or discount on top.

VA, settharam and seikooli explained

Tamil Nadu jewellers often split the labour cost into two parts:

• Settharam (wastage): a percentage of the gold weight said to cover metal lost during making. It is charged at the gold rate.
• Seikooli (making charge): labour, either per gram or per piece.

Many showrooms now merge both into one figure called VA (value addition), quoted as a percentage. A plain machine-made chain may carry a low VA, while temple jewellery, antique finishes and handmade kasu malai carry much more. Always ask which model the shop uses, because a "low making charge" can hide a high settharam. The making charges guide compares the models.

Example: a 3-sovereign necklace with 14% VA

Suppose the illustrative 22K board rate is ₹12,250 per gram (₹98,000 per sovereign) and you buy a 24-gram necklace with VA of 14%:

The effective cost is about ₹14,384 per gram, around 17% above the board rate. Bargaining usually moves the VA, not the gold rate. Run your own numbers in the jewellery price calculator.

Where Chennai buys gold

T. Nagar is the city's best-known jewellery district. Usman Road, Ranganathan Street and the streets around Pondy Bazaar hold many large multi-floor showrooms, and crowds on festival days are dense. Sowcarpet in George Town, around NSC Bose Road, is the older wholesale and trading area, with bullion dealers, small workshops and family jewellers. Branches of the large chains also sit in Mylapore, Purasawalkam, Anna Nagar, Velachery, Adyar and along OMR.

Buyers who want specific traditional work, such as temple jewellery or antique-finish pieces, often compare a T. Nagar showroom with a smaller family jeweller who makes to order.

Pieces and customs you will see

• Thaali / thirumangalyam: the marriage pendant, whose design differs by community, worn on a thick gold chain (thaali kodi).
• Kasu malai: a necklace of gold coins, often with a Lakshmi motif.
• Maanga malai: the mango-motif long necklace.
• Oddiyanam: the bridal waist belt, often the heaviest single piece.
• Temple jewellery: designs drawn from deity ornaments, used in Bharatanatyam costumes and bridal sets.

Almost all of this is 22K. 24K coins are bought for savings and for Lakshmi pooja, and 18K appears mainly in diamond jewellery.

Calendar: Akshaya Tritiya, Aadi and Thai

Akshaya Tritiya is one of the biggest gold-buying days in Chennai, and showrooms open early and take pre-bookings. The Tamil month of Aadi (mid-July to mid-August) is generally avoided for weddings, so jewellers run Aadi offers to keep shoppers coming. The Thai month after Pongal begins a busy wedding season, and Deepavali brings another peak. None of these dates change the international price; they change offers and VA discounts. See Akshaya Tritiya gold.

Before you pay in Chennai

1. Confirm the BIS hallmark with purity (22K916) and a six-character HUID on every item, and check it in the BIS CARE app (how to verify).
2. Ask whether VA includes settharam or whether wastage is billed separately.
3. For stone-set pieces, get stone weight deducted from gold weight on the bill.
4. Ask for the old-gold exchange deduction policy in writing.
5. Keep the GST invoice; you will need it when you sell or exchange.