Gold Rate Today In India: March 2, 2024 Update
On March 2, 2024, gold prices in India witnessed fluctuations. Despite this, the fundamental price for 10 grams remained relatively stable, hovering around Rs 64,000. A detailed analysis reveals that the average price for 10 grams of 24-carat gold stood at approximately Rs 64,090, while 22-carat gold averaged Rs 58,750. Meanwhile, the silver market displayed a consistent upward trend, reaching Rs 75,000 per kilogram.
Gold Rate Today In Different Cities
Here’s a breakdown of the gold rates across various Indian cities as of March 2, 2024:
| City | 22 Carat Gold Price (Rs/10 grams) | 24 Carat Gold Price (Rs/10 grams) |
|---|---|---|
| Chennai | 59,400 | 63,720 |
| Kolkata | 58,750 | 64,090 |
| Gurugram | 58,900 | 64,240 |
| Lucknow | 58,900 | 64,240 |
| Bengaluru | 58,750 | 64,090 |
| Jaipur | 58,900 | 64,240 |
| Patna | 58,800 | 64,140 |
| Bhubaneshwar | 58,750 | 64,090 |
| Hyderabad | 58,750 | 64,090 |
Gold Rate Today In Major Cities
As of March 2, 2024:
Gold Rate Today In Delhi
In Delhi, you would need approximately Rs 58,900 to purchase 10 grams of 22-carat gold and Rs 64,240 for the same amount of 24-carat gold.
Gold Rate Today In Mumbai
In Mumbai, the price of 10 grams of 22-carat gold stands at Rs 58,750, while the equivalent amount of 24-carat gold is valued at Rs 64,090.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 58,800, and for the same amount of 24-carat gold, it’s Rs 64,140.
Multi Commodity Exchange (MCX) Update
On March 1, 2024, the Multi Commodity Exchange (MCX) witnessed active trading in gold futures contracts expiring on April 5, 2024, priced at Rs 63,600 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 72,272 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 significance in India, valued for investment purposes, and traditionally cherished in weddings and festivals.
Outlook for 2024: 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 expected 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.