Gold Rate Today In India: Fluctuations and Future Projections
On February 28, 2024, gold prices witnessed fluctuations across several Indian cities. While the base price for 10 grams remained relatively stable, hovering around Rs 62,000, there were variations based on the purity of the gold. For 24-carat gold, the mean price for 10 grams stood at approximately Rs 62,830, whereas for 22-carat gold, it reached Rs 57,590. Meanwhile, the silver market showed a consistent upward trend, with prices reaching Rs 73,900 per kilogram.
Gold Rate Today In Different Cities
| City | 22 Carat Gold Price (Rs/10 grams) | 24 Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Delhi | 57,740 | 62,990 |
| Mumbai | 57,590 | 62,830 |
| Ahmedabad | 57,640 | 62,880 |
| Chennai | 58,100 | 63,380 |
| 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 28, 2024, gold futures expiring on April 05 were actively traded at Rs 62,202 on the Multi Commodity Exchange. Additionally, silver futures with a May 03, 2024 expiration date were quoted at Rs 70,799.
Retail Cost of Gold
The retail cost of gold is influenced by various factors, including global gold prices, currency fluctuations, and production costs. In India, gold holds immense cultural significance and is valued for its investment potential and traditional use in ceremonies like weddings and festivals.
2024 Outlook: Rs 70,000 Per 10 Grams Gold Price
The All India Gem and Jewellery Domestic Council (GJC) predicts that prevailing global economic uncertainties and geopolitical tensions will drive gold prices to a historic high of Rs 70,000 per 10 grams in the coming year. This projection highlights gold’s role as a reliable investment and a hedge against inflation.