Gold Rate Today In India: Latest Updates and City-wise Prices
On March 7, 2024, gold prices in India soared to a fresh record high of Rs 65,000 per 10 grams in the national capital, propelled by strong global trends. While experiencing fluctuations throughout the day, the fundamental price for 10 grams remained close to this remarkable figure.
Gold Rate Today In India
Here’s a detailed breakdown of gold rates in India as of March 7, 2024:
| City | 22 Carat Gold Price (Rs/10 grams) | 24 Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Delhi | 60,250 | 65,710 |
| Mumbai | 60,100 | 65,560 |
| Ahmedabad | 60,150 | 65,610 |
| Chennai | 60,410 | 65,900 |
| Kolkata | 60,100 | 65,560 |
| Gurugram | 60,250 | 65,710 |
| Lucknow | 60,250 | 65,710 |
| Bengaluru | 60,100 | 65,560 |
| Jaipur | 60,250 | 65,710 |
| Patna | 60,150 | 65,610 |
| Bhubaneshwar | 60,100 | 65,560 |
| Hyderabad | 60,100 | 65,560 |
Multi Commodity Exchange (MCX) Update
The Multi Commodity Exchange (MCX) witnessed active trading in gold futures contracts expiring on April 5, 2024, with contracts priced at Rs 65,399 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 74,167 on the MCX.
Retail Cost of Gold
The retail price of gold in India, often referred to as the gold rate, reflects the final cost per unit weight that customers pay when purchasing gold. This price is influenced by various factors beyond the metal’s inherent value, including market demand, global economic conditions, and geopolitical tensions.
Gold holds immense cultural significance in India, serving as a symbol of wealth and prosperity. It is commonly purchased for investment purposes and plays 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 expected to drive gold prices to a historic peak of Rs 70,000 per 10 grams in the coming year. This projection underscores gold’s status as a reliable investment and a valuable hedge against inflation.