Gold Prices Climb in India on US Interest Rate Cut Speculation

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Bengaluru, India – March 10, 2024: Gold prices in India have continued their upward trend for the past ten days, mirroring a global surge. This rise is attributed to anticipation of a potential interest rate cut by the US Federal Reserve. Investors are holding off on major decisions until the Fed’s stance becomes clearer.

Currently, 10 grams of 22-carat gold in India is priced at ₹60,250, while 10 grams of 24-carat gold costs ₹65,730. Silver prices have also seen a slight increase, with 100 grams selling for ₹755.

City-wise Variations in Gold Prices

Gold prices can vary slightly depending on the city. Here’s a quick breakdown for 22-carat gold (per 10 grams):

  • Bangalore, Mumbai, Kolkata, and Ahmedabad: ₹60,250
  • Chennai: ₹61,050
  • Delhi, Jaipur, Lucknow, and Bhubaneswar: ₹60,400
  • Kerala: ₹60,250 (prices may vary in some Kerala locations)
  • Hubballi: ₹ 60,750 (as per Kalyan Jewlelers)

Global Gold Price Comparison

For comparison, here’s a look at how 22-carat gold prices (per 10 grams) fare in some other countries (approximate conversions in INR):

  • Malaysia: ₹56,695
  • Dubai: ₹54,736
  • USA: ₹54,602
  • Singapore: ₹55,545
  • Qatar: ₹56,142
  • Saudi Arabia: ₹54,923
  • Oman: ₹56,629
  • Kuwait: ₹55,488

Silver Prices Across Cities

Similar to gold, silver prices also show slight variations across Indian cities. Here’s a breakdown for 100 grams of silver:

  • Bangalore: ₹7,450
  • Chennai, Kerala, and Bhubaneswar: ₹7,900
  • All other listed cities: ₹7,550

Important Note

Please remember that these gold and silver prices are indicative and may not reflect exact market rates. The information is compiled from leading jewelers, and additional charges like GST and making charges may apply.

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