Gold Rate Today In India: Latest Updates & Trends – March 6, 2024
Gold prices in India surged by Rs 800 on Tuesday, hitting a fresh record high of Rs 65,000 per 10 grams in the national capital, driven by strong global trends.
Gold Rate Fluctuations on March 6, 2024
On March 6, 2024, gold rates in India experienced fluctuations, with the fundamental price for 10 grams remaining close to Rs 65,000. The average price for 10 grams of 24-carat gold was approximately Rs 64,860, while 22-carat gold averaged around Rs 59,460. Meanwhile, the silver market displayed an upward trend, reaching Rs 74,800 per kilogram.
Gold Rate Today In Different Cities – March 6, 2024
| City | 22 Carat Gold Price (Rs/10 grams) | 24 Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Delhi | 59,610 | 65,010 |
| Mumbai | 59,460 | 64,860 |
| Ahmedabad | 59,510 | 64,910 |
| Chennai | 60,160 | 65,630 |
| Kolkata | 59,460 | 64,860 |
| Gurugram | 59,610 | 65,010 |
| Lucknow | 59,610 | 65,010 |
| Bengaluru | 59,460 | 64,860 |
| Jaipur | 59,610 | 65,010 |
| Patna | 59,510 | 64,910 |
| Bhubaneshwar | 59,460 | 64,860 |
| Hyderabad | 59,460 | 64,860 |
Multi Commodity Exchange (MCX) Trends
On March 6, 2024, the Multi Commodity Exchange (MCX) saw active trading in gold futures contracts expiring on April 5, 2024, priced at Rs 64,735 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 73,139 on the MCX.
Retail Cost of Gold in India
The retail price of gold in India, commonly known 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 intrinsic value. 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 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 hedge against inflation.