Gold Rate Today In India
On February 29, 2024, gold prices across India experienced some fluctuations. However, the base price for 10 grams remained relatively stable at around Rs 62,000. A closer look reveals that the average price for 10 grams of 24-carat gold was approximately Rs 62,830, while 22-carat gold averaged Rs 57,590. At the same time, the silver market displayed a consistent upward trend, reaching Rs 73,900 per kilogram.
Gold Rate Today In Delhi
As of today, February 29, 2024, in Delhi, you would need approximately Rs 57,740 to purchase 10 grams of 22-carat gold and Rs 62,990 for the same amount of 24-carat gold.
Gold Rate Today In Mumbai
Currently in Mumbai, the price of 10 grams of 22-carat gold stands at Rs 57,590, while the equivalent amount of 24-carat gold is valued at Rs 62,830.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 57,640, and for the same amount of 24-carat gold, it’s Rs 62,880. Check gold rates today in different cities on February 29, 2024:
| City | 22 Carat Gold Price (Rs/10 grams) | 24 Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Chennai | 58,090 | 63,370 |
| Kolkata | 57,590 | 62,830 |
| Gurugram | 57,740 | 62,990 |
| Lucknow | 57,740 | 62,990 |
| Bengaluru | 57,590 | 62,830 |
| Jaipur | 57,740 | 62,990 |
| Patna | 57,640 | 62,880 |
| Bhubaneshwar | 57,590 | 62,830 |
| Hyderabad | 57,590 | 62,830 |
Multi Commodity Exchange
On February 29, 2024, the Multi Commodity Exchange (MCX) saw active trading in gold futures contracts expiring on April 5, 2024. These contracts were priced at Rs 62,275 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 70,935 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 is highly important in India because of its cultural significance, its value for investment, and its traditional role in weddings and festivals.
2024 Outlook: Rs 70,000 Per 10 Grams Gold Price
According to the All India Gem and Jewellery Domestic Council (GJC), they have recently stated that prevailing global economic uncertainties and geopolitical tensions are expected to propel gold prices to a historic high of Rs 70,000 per 10 grams in the upcoming year. This trajectory underscores gold’s status as a dependable investment and a valuable hedge against inflation.