Gold Rate Today In India: March 1, 2024 Update
On March 1, 2024, gold prices across India witnessed a noticeable surge. The base price for 10 grams rose to approximately Rs 63,150. For a more detailed breakdown, the average price for 10 grams of 24-carat gold was about Rs 63,160, while 22-carat gold averaged Rs 57,900. Simultaneously, the silver market displayed a consistent upward trend, reaching Rs 74,500 per kilogram.
Gold Rate Today In Delhi
In Delhi, as of March 1, 2024, you would require around Rs 58,050 to purchase 10 grams of 22-carat gold and Rs 63,310 for the same amount of 24-carat gold.
Gold Rate Today In Mumbai
In Mumbai, the current price of 10 grams of 22-carat gold stands at Rs 57,900, while the equivalent amount of 24-carat gold is valued at Rs 63,160.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 57,950, and for the same amount of 24-carat gold, it’s Rs 63,210.
| City | 22 Carat Gold Price | 24 Carat Gold Price |
|---|---|---|
| Chennai | 58,400 | 63,710 |
| Kolkata | 57,900 | 63,160 |
| Gurugram | 58,050 | 63,310 |
| Lucknow | 58,050 | 63,310 |
| Bengaluru | 57,900 | 63,160 |
| Jaipur | 58,050 | 63,310 |
| Patna | 57,950 | 63,210 |
| Bhubaneshwar | 57,900 | 63,160 |
| Hyderabad | 57,900 | 63,160 |
Multi Commodity Exchange (MCX)
On March 1, 2024, the Multi Commodity Exchange (MCX) experienced subdued trading in gold futures contracts expiring on April 5, 2024. These contracts were priced at Rs 62,537 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 71,420 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 holds significant cultural importance in India, serving as an investment avenue and playing a 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), prevailing global economic uncertainties and geopolitical tensions are anticipated to drive 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 reliable investment and a valuable hedge against inflation.