Gold rates in Chennai on November 3: 22K, 24K and 18K rates to check before your Dhanteras and Diwali purchase

The rates matter immediately as Dhanteras falls on Friday, November 6, and Diwali on Sunday, November 8, and showrooms have already begun taking advance bookings.

Tuesday witnessed a partial recovery in gold prices as the 24 karat rate rose ₹510 per 10 grams and 22 karat ₹470, after a 3.51% decline on October 31 that knocked ₹5,060 off every 10 grams of 24 karat gold.

However, from October's high of ₹1,51,570, the yellow metal is still down close to ₹12,000 per 10 grams.

Tamil Nadu buyers lean heavily on 22 karat for temple jewellery and bridal sets, while 18 karat dominates diamond-studded and lightweight daily-wear designs. An 18 karat purchase can cost roughly a quarter less per gram than 24 karat, which is why studded collections are moving fastest in the current festival season.

Please note that the gold rates above are indicative and that a specific store's rate may differ. Buyers should compare rates across shops on their own before deciding. The final bill will also exceed the karat price once making charges and 3% GST are added. For example, 10 grams of 22 karat at 10% making charges can attracts GST of ₹4,221, taking the total to about ₹1,44,922.

One should compare making charges store to store as carefully as the rate. This is because the same design can carry very different labour costs. Buyers should also insist on a BIS hallmark with a six-digit HUID on every item. Comparing and verifying rates, charges and hallmarking can what make a Dhanteras and Diwali purchase a happy one.