Gold Rate Today in India: As of February 20, 2024, there were swings in gold rates throughout several cities in India. The average price per 10 gram remained about Rs 62,000. To offer a larger perspective, the average cost of 10 grams of 24-carat gold was around Rs 62,680, whilst 22-carat gold was priced at Rs 57,460.
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At the same time, the silver market displayed a consistent downward trend, reaching Rs 75,500 per kilogram.
Check gold rates today in different cities on February 20, 2024; (In Rs/10 grams)
|
CITY |
22 CARAT GOLD PRICE |
24 CARAT GOLD PRICE |
|
Delhi |
57610 |
62830 |
|
Mumbai |
57460 |
62680 |
|
Chennai |
58010 |
63280 |
|
Ahmedabad |
57510 |
62730 |
|
Kolkata |
57460 |
62680 |
|
Gurugram |
57500 |
62710 |
|
Lucknow |
57500 |
62710 |
|
Bengaluru |
57460 |
62680 |
|
Jaipur |
57500 |
62710 |
|
Patna |
57400 |
62610 |
|
Bhubaneshwar |
57350 |
62560 |
|
Hyderabad |
57460 |
62680 |
Multi Commodity Exchange (MCX)
On February 20, 2024, gold futures slated to expire on April 5 were actively traded on the Multi Commodity Exchange for Rs 62,009. Furthermore, silver futures with an expiration date of March 5, 2024 were quoted at Rs 71, 213.
The retail price of gold in the country is what buyers pay for it. This price is impacted by a number of factors, including the world gold price, the currency of the rupee, and the expenses of labor and materials used in the manufacture of gold jewelry.
Gold is highly valued in India due to its cultural importance, investment potential, and historic role in weddings and celebrations.
Outlook for 2024: Rs 70,000 per 10 gram gold price.
According to the All India Gem and Jewellery Domestic Council (GJC), current global economic uncertainty and geopolitical tensions are projected to drive gold prices to a historic high of Rs 70,000 per 10 grams in the coming year. This trend emphasizes gold's role as a trustworthy investment and an effective inflation hedge.
Thank you for your time and consideration.