Gold Rate Today: Gold Price Jumps in Major Indian Cities, Silver Sees Downtrend

Gold Rate Today in India, February 23, 2024: Gold prices rose across major Indian cities on Friday, February 23rd, defying the global trend. The average price of 10 grams of 24-carat gold touched Rs 62,730, while 22-carat gold hovered around Rs 57,500. This rise comes despite a consistent downward trend in the silver market, where prices dipped to Rs 74,500 per kilogram. According to Kalyan Jewelers, gold price in Hubballi today for 22-carat gold is Rs 57,500.

City-wise Breakdown:

• Delhi: Residents paid Rs 57,650 for 22-carat gold and Rs 62,880 for 24-carat.
• Mumbai: 22-carat gold was priced at Rs 57,500, while 24-carat commanded Rs 62,730.
• Chennai: The rates for 22-carat and 24-carat gold were Rs 57,950 and Rs 63,220, respectively.

Check gold rates today in different cities on February 23, 2024; (In Rs/10 grams)

CITY	22 CARAT GOLD PRICE	24 CARAT GOLD PRICE
Ahmedabad	57,550	62,780
Kolkata	57,500	62,730
Gurugram	57,650	62,880
Lucknow	57,650	62,880
Bengaluru	57,500	62,730
Jaipur	57,650	62,880
Patna	57,550	62,780
Bhubaneshwar	57,500	62,730
Hyderabad	57,500	62,730

Other Key Points:

• MCX Futures: April gold futures traded actively at Rs 62,001 on the Multi Commodity Exchange, while March silver futures settled at Rs 69,914.
• Factors Influencing Price: The retail cost of gold is impacted by global prices, the Rupee’s value, and production costs.
• Significance of Gold in India: Gold holds cultural and investment value in India, playing a crucial role in weddings and festivals.

Overall, despite the contrasting movement in silver prices, gold continues to shine in India, reflecting its enduring appeal in the country.