Gold Rate Today In India: On February 28, 2024, gold prices experienced fluctuations in multiple Indian cities. The base price for 10 grams remained fairly consistent, fluctuating around Rs 62,000. Expanding the analysis, the mean price for 10 grams of 24-carat gold was approximately Rs 62,830, whereas for 22-carat gold, it reached Rs 57,590.
At the same time, the silver market displayed a consistent upward trend, reaching Rs 73,900 per kilogram.
Gold rate today in India: Retail gold price on February 28
Gold Rate Today In Delhi
In Delhi, individuals are required to allocate Rs 57,740 for 10 grams of 22-carat gold and Rs 62,990 for the same quantity of 24-carat gold.
Gold Rate Today In Mumbai 22 Carat & 24 Carat
Currently in Mumbai, the price of 10 grams of 22-carat gold stands at Rs 57,590, while the equivalent amount of 24-carat gold is valued at Rs 62,830.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 57,640, and for the same amount of 24-carat gold, it’s Rs 62,880.
Check gold rates today in different cities on February 28, 2024; (In Rs/10 grams)
Multi Commodity Exchange
On February 28, 2024, the futures for gold set to expire on April 05 were actively traded at Rs 62,202 on the Multi Commodity Exchange. Furthermore, silver futures with a May 03, 2024 expiration date were quoted at Rs 70,799.
Retail Cost of Gold
The retail cost of gold in the country is the amount customers pay for it. This price is influenced by various factors, including the global gold price, the value of the Rupee, and the costs associated with labour and materials used in the production of gold jewellery.
Gold is highly important in India because of its cultural significance, its value for investment, and its 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), they have recently stated that prevailing global economic uncertainties and geopolitical tensions are expected to propel 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 dependable investment and a valuable hedge against inflation.
Comments
0 comment