Like any other Indian city, Chennai witnessed a massive demand for gold. Yellow metal is purchased in different forms- coins, jewelry, or bullion. People often associate buying gold with status and wealth. In Chennai, gold is not just bought for personal celebrations but also for trade and investments. The day of Akshaya Tritiya is especially significant as it sees a lot of discounts and offers on gold rates.
What impacts today’s gold rate in Chennai are the state taxes, local taxes, transportation taxes, and additional costs incurred by jewelers in Chennai. These elements work in concert to create the current price of gold in Chennai. However, it is essential to understand that the current price is not static and is subject to change about the aforementioned elements. Consequently, those looking to buy gold must do so, keeping these facts in mind. Only then will they be able to get the best value for their money.