The price of gold increased in India on March 12; see the 24 carat rate in your city
In the realm of contemporary Indian commerce, the current valuation of gold stands at Rs 60,740 per 10 grams for 22 karat gold. Concurrently, the price of 22-carat gold has experienced a decline of Rs 10, presenting the precious yellow metal at a market value of Rs 60,740.
In the landscape of today’s gold market in India, specifically on March 10, the retail price of ten grams of 24-carat gold in Mumbai aligns harmoniously with rates observed in Kolkata and Hyderabad, settling at Rs 66,260.
Delving further into the details, in Delhi, Bengaluru, and Chennai, the monetary value for ten grams of 24-carat gold stands at Rs 66,410, Rs 66,260, and Rs 67,090, respectively.
Similarly, in Mumbai, the market value for ten grams of 22-carat gold equals that of Kolkata and Hyderabad, amounting to Rs 60,740.
The cost of one kilogram of silver exhibits uniformity across Delhi, Mumbai, and Kolkata, holding steady at Rs 75,500.
Turning the gaze towards specific cities, the current gold price in Pune is Rs 6,074 per gram for 22 karat gold and Rs 6,626 per gram for 24 karat gold.
Meanwhile, in Surat, the prevailing rates stand at Rs 6,079 per gram for 22 karat gold and ₹ 6,631 per gram for 24 karat gold.
For a comprehensive overview of gold rates on March 12, 2024, in various cities, refer to the table below:
| CITY | 22 CARAT GOLD PRICE | 24-CARAT GOLD PRICE |
|---|---|---|
| Chennai | 61,500 | 67,100 |
| Kolkata | 60,750 | 66,270 |
| Gurugram | 60,900 | 66,420 |
| Lucknow | 60,900 | 66,420 |
| Bengaluru | 60,750 | 66,270 |
| Jaipur | 60,900 | 66,420 |
| Patna | 60,800 | 66,320 |
| Bhubaneshwar | 60,750 | 66,270 |
| Hyderabad | 60,750 | 66,270 |
In the tapestry of financial transactions, the retail price of gold in India, colloquially referred to as the gold rate, signifies the ultimate cost per unit weight that patrons incur when acquiring gold. This monetary value is subject to diverse influences, transcending the intrinsic value of the metal itself.
Gold, within the Indian context, holds profound significance due to its cultural eminence, its allure as an investment vehicle, and its time-honored role in matrimonial ceremonies and festive celebrations.
As we project into the future of 2024, the All India Gem and Jewellery Domestic Council (GJC) forecasts that persisting global economic uncertainties and geopolitical tensions will propel gold prices to a historic pinnacle of Rs 70,000 per 10 grams in the approaching year. This prognosis underscores gold’s standing as a dependable investment and a venerable hedge against inflation.
