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Gold Rate Today in India: On February 28, 2024, gold prices experienced fluctuations in several cities in India. The base price of 10 grams remained fairly constant, fluctuating around Rs 62,000. Extending the analysis, the average price of 10 grams of 24 carat gold was approximately Rs 62,830, while that of 22 carat gold reached Rs 57,590.
At the same time, the silver market showed a steady 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, people have to allocate Rs 57,740 for 10 grams of 22-carat gold and Rs 62,990 for the same amount of 24-carat gold.
Gold rate today in Mumbai of 22 and 24 carats
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 of 10 grams of 22 carat gold is Rs 57,640 and the same amount of 24 carat gold is Rs 62,880.
Check gold rates today in different cities on February 28, 2024; (In Rs/10 grams)
| City | 22 karat gold price | 24 karat gold price |
| Chennai | 58,100 | 63,380 |
| Calcutta | 57,590 | 62,830 |
| Gurugram | 57,740 | 62,990 |
| Lucknow | 57,740 | 62,990 |
| Bengaluru | 57,590 | 62,830 |
| Jaipur | 57,740 | 62,990 |
| Patna | 57,640 | 62,880 |
| Bhubaneshwar | 57,590 | 62,830 |
| Hyderabad | 57,590 | 62,830 |
Multi Commodity Bag
On February 28, 2024, gold futures expiring on April 5 were actively traded at Rs 62,202 on the Multi Commodity Exchange. Additionally, silver futures with an expiry date of May 3, 2024 were trading at Rs 70,799.
Retail cost of gold
The retail cost of gold in the country is the amount that customers pay for it. This price is influenced by several factors, including the world price of gold, the value of the rupee, and the costs associated with labor and materials used in the production of gold jewelry.
Gold is very important in India due to its cultural importance, its investment value and its traditional role in weddings and festivals.
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Outlook for 2024: price of 70,000 rupees per 10 grams of gold
According to the All India Gem and Jewelery Domestic Council (GJC), they have recently stated that global economic uncertainties and prevailing geopolitical tensions are expected to push gold prices to an all-time high of Rs 70,000 per 10 grams over the next year. This trajectory underlines gold’s status as a reliable investment and a valuable hedge against inflation.
first published: February 28, 2024, 10:58 IST