Gold fee right this moment in India on February 16, 2024: India is the biggest importer of gold, which primarily caters to the demand of the jewelry business. (Representative picture)
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Gold Rate Today In India: As of February 16, 2024, there have been fluctuations in gold costs famous throughout numerous cities in India. The common value for 10 grams remained roughly Rs 62,000. To provide a wider view, the common value of 10 grams of 24-carat gold was roughly Rs 62,290, whereas for 22-carat gold, it was Rs 57,100.
At the identical time, the silver market displayed a constant downward pattern, reaching Rs 75,600 per kilogram.
Gold fee right this moment in India: Retail gold value on February 16
Gold Rate Today In Delhi
In Delhi, folks need to spend Rs 57,250 for 10 grams of twenty-two-carat gold and Rs 62,440 for a similar quantity of 24-carat gold.
Gold Price Today In Mumbai
In Mumbai, 10 grams of twenty-two-carat gold is presently priced at Rs 57,100, whereas the identical quantity of 24-carat gold is valued at Rs 62,290.
Gold Rate Today In ChennaiÂ
In Chennai, the worth for 10 grams of twenty-two-carat gold is Rs 57,600, and for a similar quantity of 24-carat gold, it’s Rs 62,840.
Check gold charges right this moment in several cities on February 16, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Ahmedabad | 57,150 | 62,340 |
| Kolkata | 57,100 | 62,290 |
| Gurugram | 57,250 | 62,440 |
| Lucknow | 57,250 | 62,440 |
| Bengaluru | 57,100 | 62,290 |
| Jaipur | 57,250 | 62,440 |
| Patna | 57,150 | 62,340 |
| Bhubaneshwar | 57,100 | 62,290 |
| Hyderabad | 57,100 | 62,290 |
Multi Commodity Exchange
On February 16, 2024, the futures for gold set to run out on April 05 have been actively traded at Rs 61,624 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024, expiration date have been quoted at Rs 71,294.
The retail value of gold within the nation is the quantity clients pay for it. This value is influenced by numerous components, together with the worldwide gold value, the worth of the Rupee, and the prices related to labour and supplies used within the manufacturing of gold jewelry.
Gold is very necessary in India due to its cultural significance, its worth for funding, and its conventional function in weddings and festivals.
2024 Outlook: Rs 70,000 Per 10 Grams Gold Price
According to the All India Gem and Jewellery Domestic Council (GJC), they’ve just lately said that prevailing world financial uncertainties and geopolitical tensions are anticipated to propel gold costs to a historic excessive of Rs 70,000 per 10 grams within the upcoming yr. This trajectory underscores gold’s standing as a reliable funding and a worthwhile hedge in opposition to inflation.
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