Gold Rate Today In India
On March 5, 2024, gold rates in India witnessed fluctuations. However, the fundamental price for 10 grams surged, hovering around Rs 65,000. A closer look reveals that 24-carat gold averaged approximately Rs 64,850, while 22-carat gold averaged around Rs 59,450. Simultaneously, the silver market displayed an upward trend, reaching Rs 74,700 per kilogram.
Gold Rate Today In Delhi
In Delhi, as of March 5, 2024, the current price for 10 grams of 22-carat gold is approximately Rs 59,600, while 10 grams of 24-carat gold is priced at around Rs 65,000.
Gold Rate Today In Mumbai
Currently in Mumbai, the price of 10 grams of 22-carat gold stands at Rs 59,450, and for 24-carat gold, it’s valued at Rs 64,850.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 59,500, while for the same amount of 24-carat gold, it’s Rs 64,900.
Gold Rates Today in Different Cities on March 5, 2024
| City | 22 Carat Gold Price (Rs/10 grams) | 24-Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Chennai | 60,150 | 65,620 |
| Kolkata | 59,450 | 64,850 |
| Gurugram | 59,600 | 65,000 |
| Lucknow | 59,600 | 65,000 |
| Bengaluru | 59,450 | 64,850 |
| Jaipur | 59,600 | 65,000 |
| Patna | 59,500 | 64,900 |
| Bhubaneshwar | 59,450 | 64,850 |
| Hyderabad | 59,450 | 64,850 |
Multi Commodity Exchange
On March 5, 2024, the Multi Commodity Exchange (MCX) witnessed active trading in gold futures contracts expiring on April 5, 2024, priced at Rs 64,435 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 73,347 on the MCX.
Retail Cost of Gold
The retail price of gold in India, often referred to as the gold rate, is the final cost per unit weight that customers pay when purchasing gold. This price is influenced by several factors beyond the inherent value of the metal itself. Gold holds immense cultural significance in India, serving as a valuable investment and playing a traditional role in weddings and festivals.
2024 Outlook
According to the All India Gem and Jewellery Domestic Council (GJC), ongoing global economic uncertainties and geopolitical tensions are anticipated to drive gold prices to a historic peak of Rs 70,000 per 10 grams in the coming year. This projection underscores gold’s reliability as an investment and its value as a safeguard against inflation.