Gold Price Increases In India: Check 24 Carat Rate In Your City On February 22

Gold rate today in India on February 22, 2024: India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Representative image)

Gold Rate Today In India: On the 22nd of February 2024, changes in gold prices were seen in different cities across India. The usual cost for 10 grams stayed about the same, at around Rs 62,000. To compare more widely, 10 grams of 24-carat gold was about Rs 62,750 on average, and for 22-carat gold, it was Rs 57,610.

At the same time, the silver market displayed a consistent upward trend, reaching Rs 75,800 per kilogram.

Gold rate today in India: Retail gold price on February 22

Gold Rate Today In Mumbai 22 Carat & 24 Carat

Currently in Mumbai, the price of 10 grams of 22-carat gold stands at Rs 57,610, while the equivalent amount of 24-carat gold is valued at Rs 62,750.

Gold Rate Today In Delhi

In Delhi, individuals are required to allocate Rs 57,760 for 10 grams of 22-carat gold and Rs 62,900 for the same quantity of 24-carat gold.

Gold Rate Today In Chennai

In Chennai, the price for 10 grams of 22-carat gold is Rs 58,110, and for the same amount of 24-carat gold, it’s Rs 63,390.

Check gold rates today in different cities on February 22, 2024; (In Rs/10 grams)

Multi Commodity Exchange

On February 22, 2024, the futures for gold set to expire on April 05 were actively traded at Rs 62,141 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024 expiration date were quoted at Rs 70,652.

Retail Cost of Gold

The retail cost of gold in the country is the amount customers pay for it. This price is influenced by various factors, including the global gold price, the value of the Rupee, and the costs associated with labour and materials used in the production of gold jewellery.

Gold is highly important in India because of its cultural significance, its value for investment, and its traditional role 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 have recently stated that prevailing global economic uncertainties and geopolitical tensions are expected to propel gold prices to a historic high of Rs 70,000 per 10 grams in the upcoming year. This trajectory underscores gold’s status as a dependable investment and a valuable hedge against inflation.