Chennai Gold Sparkles Higher After Duty Hike As Global Prices Watch Trump’s China Trip

Chennai Jewellery Rates Surge After Duty Move  

Following the government’s decision to raise gold import duty back to 15 percent, Chennai’s retail market has quickly repriced bullion. Local traders now peg 24K gold at around ₹1.63 lakh per 10 grams (₹1,63,640) and 22K at about ₹1.50 lakh per 10 grams, reflecting both the higher tax and strong underlying demand. Jewellers say the spike has prompted some customers to either postpone large-ticket purchases or switch to lighter designs.  

Global Spot Gold Steady Ahead Of Trump’s China Visit  

On the global stage, spot gold is trading in a relatively tight range as investors track Donald Trump’s planned visit to China and its potential impact on trade tensions, tariffs and the dollar. Markets are weighing whether the trip brings escalatory rhetoric or a softer tone; either outcome could quickly swing safe-haven appetite for bullion, even as Indian prices remain structurally higher due to duty and local premiums.  

Gold Market Highlights  

• Chennai 24K gold hovers near ₹1.63 lakh per 10 grams after the import duty hike.  
• 22K gold in Chennai trades around ₹1.50 lakh per 10 grams in the retail market.  
• Higher duty has made jewellery purchases more expensive, pressuring wedding and festive buyers.  
• Global spot gold is broadly steady as investors watch Trump’s upcoming China visit.  
• Domestic taxes and global geopolitics together will steer short-term gold price action.  

Sources: Finance Ministry; local Chennai bullion and jewellery dealers; Economic Times; LiveChennai; international gold price services