Meanwhile, silver opened at Rs 75,349 per kg and hit an intraday low of Rs 75,210 on the MCX. In the worldwide market, the value hovered round $24.09 per ounce.
Gold fee at this time in India: Retail gold value on March 14
The value of ten grams of 24-carat gold in Mumbai is in step with costs in Kolkata and Hyderabad, at Rs 65,830.
In Delhi, Bengaluru, and Chennai, the value of ten grams of 24-carat gold stood at Rs 65,980, Rs 65,830, and Rs 66,640, respectively.
In Mumbai, the value of ten grams of twenty-two-carat gold is at par with that in Kolkata and Hyderabad, at Rs 60,340.
In Delhi, Bengaluru, and Chennai, the value of ten grams of twenty-two-carat gold stood at Rs 60,490, 60,340, and 61,090, respectively.
Check gold charges at this time in numerous cities on March 14, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24-Carat Gold Price |
| Chennai | 61,500 | 67,100 |
| (*24*)Kolkata | (*24*)60,750 | (*24*)66,270 |
| Gurugram | (*24*)60,900 | (*24*)66,420 |
| (*24*)Lucknow | (*24*)60,900 | (*24*)66,420 |
| (*24*)Bengaluru | (*24*)60,750 | (*24*)66,270 |
| (*24*)Jaipur | (*24*)60,900 | 66,420 |
| (*24*)Patna | (*24*)60,800 | (*24*)66,320 |
| (*24*)Bhubaneshwar | (*24*)60,750 | (*24*)66,270 |
| (*24*)Hyderabad | (*24*)60,750 | (*24*)66,270 |
Retail Cost of Gold
The retail value of gold in India, sometimes called the gold fee, is the ultimate value per unit weight that prospects pay when buying gold. This value is influenced by a number of components past the inherent worth of the metallic itself.
Gold is extremely vital in India due to its cultural significance, its worth for funding, and its conventional function in weddings and festivals.
2024 Outlook
Anuj Gupta, Chief of Commodity and Currency at HDFC Securities, stated, “Yesterday, gold prices increased by 0.7% and closed at 65897 levels. Recently, gold made a new high of 66356 levels. Silver prices increased sharply by 1.79% and closed at 75170 levels.”
“Gold and silver prices increased sharply due to the weakness in the Dollar and safe-haven demand caused by geopolitical tension between Russia and Ukraine. Silver is trading at three-month high levels, and gold is trading near lifetime high levels.”
COMEX Gold costs rose nearly 0.7% on Wednesday as buyers probably ignored the latest uptick in US inflation numbers for February, primarily based on the expectation that the labour market slowdown may immediate the Fed to chop charges in June. Data launched this week confirmed that the headline CPI unexpectedly rose to three.2% y/y (0.4% m/m) in February in contrast with 3.1% in January. Meanwhile, geopolitical tensions stay excessive with Ukraine drone assaults on Russia and stalled Israel peace talks, per Kotak Securities Research Report.
Robust central financial institution shopping for has been supporting costs at a time when ETFs have been witnessing steady outflows. Today, the main target will likely be on US weekly jobless claims, PPI, and retail gross sales information to supply extra clues on the Fed’s coverage path. The producer value index studying, due later at this time, would be the closing inflation report earlier than subsequent week’s Fed fee determination. According to the Kotak Securities Research Report, policymakers are anticipated to carry borrowing prices regular for a fifth straight assembly, with swaps markets anticipating a minimize in June.
