India’s Gold Rate Drops Today: See the Most Recent Prices in Your City on February 28
On the 28th of February 2024, gold prices exhibited oscillations across various cities in India. The foundational cost for 10 grams remained relatively stable, hovering around Rs 62,000. Delving into the analysis, the average cost for 10 grams of 24-carat gold was approximately Rs 62,830, while for 22-carat gold, it reached Rs 57,590.
Simultaneously, the silver market demonstrated a consistently ascending trajectory, reaching Rs 73,900 per kilogram.
Today’s gold rate in India: Retail gold prices on February 28
Gold Rate Today In Delhi
In the capital city of Delhi, individuals are obliged to allocate Rs 57,740 for 10 grams of 22-carat gold and Rs 62,990 for an identical quantity of 24-carat gold.
Gold Rate Today In Mumbai 22 Carat & 24 Carat
Presently in Mumbai, the cost 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 quantity of 24-carat gold, it stands at Rs 62,880.
Check gold rates today in different cities on February 28, 2024; (In Rs/10 grams)
CITY 22-CARAT GOLD PRICE 24-CARAT GOLD PRICE
Chennai 58,100 63,380
Kolkata 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 Exchange
On the 28th of February 2024, the futures for gold scheduled 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 nation 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 expenses associated with labor and materials used in the production of gold jewelry.
Gold holds great significance in India due to its cultural importance, its value as an investment, and its traditional role in weddings and festivals.
2024 Outlook: Rs 70,000 Per 10 Grams Gold Price
As per the All India Gem and Jewelry Domestic Council (GJC), they have recently asserted that prevailing global economic uncertainties and geopolitical tensions are anticipated 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.
