Gold Rate Today In India: On February 01, 2024, numerous worth shifts in gold had been documented throughout varied cities in India. The constant charge for 10 grams maintained a degree of roughly Rs 63,000. To delve into the small print, the typical worth for 10 grams of 24-carat gold registered at Rs 63,270, whereas the corresponding determine for 22-carat gold was Rs 58,000.
Meanwhile, the silver market demonstrated a gentle upward trajectory, reaching Rs 76,500 per kilogram.
Gold charge right this moment in India: Retail gold worth on February 01
Gold Price Today In Mumbai
In Mumbai, 10 grams of twenty-two-carat gold is presently priced at Rs 58,000, whereas the identical quantity of 24-carat gold is valued at Rs 63,270.
Gold Rate Today In Delhi
In Delhi, individuals need to spend Rs 58,150 for 10 grams of twenty-two-carat gold and Rs 63,420 for a similar quantity of 24-carat gold.
Gold Rate Today In ChennaiÂ
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In Chennai, the value for 10 grams of twenty-two-carat gold is Rs 58,500, and for a similar quantity of 24-carat gold, it’s Rs 63,820.
Check gold charges right this moment in several cities on February 01, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Ahmedabad | 58,050 | 63,320 |
| Kolkata | 58,000 | 63,270 |
| Gurugram | 58,150 | 63,420 |
| Lucknow | 58,150 | 63,420 |
| Bengaluru | 58,000 | 63,270 |
| Jaipur | 58,150 | 63,420 |
| Patna | 58,050 | 63,320 |
| Bhubaneshwar | 58,000 | 63,270 |
| Hyderabad | 58,000 | 63,270 |
Multi Commodity Exchange
On February 01, 2024, the futures for gold set to run out on April 05 had been actively traded at Rs 62,465 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024, expiration date had been quoted at Rs 72,287.
The retail value of gold within the nation is the quantity clients pay for it. This worth is influenced by varied elements, together with the worldwide gold worth, the worth of the Rupee, and the prices related to labour and supplies used within the manufacturing of gold jewelry.
Gold is extremely essential in India due to its cultural significance, its worth for funding, and its conventional function in weddings and festivals.
Here are a number of elements that may exert affect on the value of gold:
Market Forces and Gold Valuation: The valuation of gold is predominantly influenced by the dynamics of provide and demand. If there’s a surge in public curiosity for gold, its worth tends to rise. Conversely, an extra provide of gold out there can result in a decline in its worth.
Global Economic Dynamics: The broader state of the worldwide financial system performs a major function in figuring out gold costs. During durations of financial downturn or recession, traders usually flip to gold as a safe funding, inflicting an uptick in its worth.
Impact of Political Uncertainty: Political instability can even exert appreciable affect on gold costs. Instances of uncertainty or crises in pivotal nations or areas might drive traders to safeguard their belongings by investing in gold, thereby creating heightened demand and inflicting a rise within the worth of gold.
2024 Outlook: Rs 70,000 Per 10 Grams Gold Price
The All India Gem and Jewellery Domestic Council (GJC) has not too long ago mentioned that the present world financial uncertainties and geopolitical tensions are anticipated to drive gold costs to a historic peak of Rs 70,000 per 10 grams within the coming 12 months. This development establishes gold as a dependable funding and a helpful safeguard in opposition to inflation.
