Gold Rate Today In India: February 24, 2024 Update
As of February 24, 2024, gold prices experienced a surge across various Indian cities. The average rate for 10 grams settled at approximately Rs 62,950. To provide a detailed breakdown, 24-carat gold commanded around Rs 62,950 for 10 grams, while 22-carat gold stood at Rs 57,700. Conversely, the silver market showcased a consistent downward trend, reaching Rs 74,900 per kilogram.
Gold Rate Today In Different Cities:
Let’s delve into the city-wise gold rates on February 24, 2024:
| City | 22 Carat Gold Price (Rs/10 grams) | 24 Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Ahmedabad | 57,750 | 63,000 |
| Kolkata | 57,700 | 62,950 |
| Gurugram | 57,850 | 63,100 |
| Lucknow | 57,850 | 63,100 |
| Bengaluru | 57,700 | 62,950 |
| Jaipur | 57,850 | 63,100 |
| Patna | 57,750 | 62,770 |
| Bhubaneshwar | 57,700 | 62,950 |
| Hyderabad | 57,700 | 62,950 |
Gold Rate Today In Different Indian Cities:
Here’s a snapshot of gold prices in major Indian cities on February 24, 2024:
- Delhi: 22-carat gold – Rs 57,850, 24-carat gold – Rs 63,100
- Mumbai: 22-carat gold – Rs 57,700, 24-carat gold – Rs 62,950
- Chennai: 22-carat gold – Rs 58,200, 24-carat gold – Rs 63,490
Factors Influencing Gold Prices:
The retail price of gold in India is subject to various factors, including:
- Global gold prices
- Fluctuations in the value of the Rupee
- Costs associated with labor and materials in gold jewelry production
Gold holds immense cultural significance in India, serving as both a traditional adornment for weddings and festivals and a popular investment choice.
2024 Outlook: Gold Price Forecast
The All India Gem and Jewellery Domestic Council (GJC) predicts a significant surge in gold prices in the coming year. Amidst prevailing global economic uncertainties and geopolitical tensions, gold prices are anticipated to soar to a historic high of Rs 70,000 per 10 grams. This projection underscores gold’s role as a reliable investment avenue and an effective hedge against inflation.