Gold Rate in India Fluctuate Across Cities, Silver Sees Downturn
Gold Rate In India, Bangalore, February 20, 2024: Gold prices in India displayed variations across major cities on Tuesday, February 20th, with the average cost of 10 grams hovering around Rs 62,000.
For 24-carat gold, the average price across cities stood at approximately Rs 62,680 per 10 grams, while 22-carat gold averaged Rs 57,460. Notably, the silver market presented a contrasting picture, experiencing a steady decline, reaching Rs 75,500 per kilogram. Gold rate in Hubballi is for 22-carat gold per 10 grams is 57,350
City-wise Breakdown:
- Delhi: Residents in Delhi have to shell out Rs 57,610 for 10 grams of 22-carat gold and Rs 62,830 for the same quantity of 24-carat gold.
- Mumbai: In Mumbai, 10 grams of 22-carat gold currently costs Rs 57,460, while 24-carat gold fetches Rs 62,680.
- Chennai: The price for 10 grams of 22-carat gold in Chennai is Rs 58,010, and Rs 63,280 for the same amount of 24-carat gold.
Other Cities:
The table below details the price of 22-carat and 24-carat gold for 10 grams in other major Indian cities:
| City | 22 Carat Gold Price | 24 Carat Gold Price |
|---|---|---|
| Ahmedabad | Rs 57,510 | Rs 62,730 |
| Kolkata | Rs 57,460 | Rs 62,680 |
| Gurugram | Rs 57,500 | Rs 62,710 |
| Lucknow | Rs 57,500 | Rs 62,710 |
| Bengaluru | Rs 57,460 | Rs 62,680 |
| Jaipur | Rs 57,500 | Rs 62,710 |
| Patna | Rs 57,400 | Rs 62,610 |
| Bhubaneshwar | Rs 57,350 | Rs 62,560 |
| Hyderabad | Rs 57,460 | Rs 62,680 |
Multi Commodity Exchange:
Gold futures expiring on April 5th closed at Rs 62,009 on the Multi Commodity Exchange, while silver futures for March 5th ended at Rs 71,213.
Factors Affecting Gold Price:
Several factors influence the retail price of gold in India, including the global gold price, the Indian Rupee’s value, and manufacturing costs.
Significance of Gold:
Gold holds immense cultural and economic importance in India. It serves as a valuable investment, plays a vital role in weddings and festivals, and carries deep cultural significance.
