Gold Rate Today In India: On March 5, 2024, gold rates in India experienced fluctuations. However, the fundamental price for 10 grams went up, staying close to Rs 65,000. A detailed examination revealed that the average price for 10 grams of 24-carat gold was approximately Rs 64,850, while 22-carat gold averaged around Rs 59,450.
At the same time, the silver market displayed an upward trend, reaching Rs 74,700 per kilogram.
Gold rate today in India: Retail gold price on March 5
Gold Rate Today In Delhi
As of March 5, 2024, in Delhi, the current price for 10 grams of 22-carat gold is approximately Rs 59,600, whereas 10 grams of 24-carat gold is priced at around Rs 65,000.
Gold Rate Today In Mumbai
Currently in Mumbai, the price of 10 grams of 22-carat gold stands at Rs 59,450, while the equivalent amount of 24-carat gold is valued at Rs 64,850.
Gold Rate Today In Ahmedabad
In Ahmedabad, the price for 10 grams of 22-carat gold is Rs 59,500, and for the same amount of 24-carat gold, it’s Rs 64,900.
Check gold rates today in different cities on March 5, 2024; (In Rs/10 grams)
Multi Commodity Exchange
On March 5, 2024, the Multi Commodity Exchange (MCX) saw active trading in gold futures contracts expiring on April 5, 2024. These contracts were priced at Rs 64,435 per 10 grams. Additionally, silver futures contracts expiring on May 3, 2024, were quoted at Rs 73,347 on the MCX.
Retail Cost of Gold
The retail price of gold in India, often referred to as the gold rate, is the final cost per unit weight that customers pay when purchasing gold. This price is influenced by several factors beyond the inherent value of the metal itself.
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
As per the recent statement from the All India Gem and Jewellery Domestic Council (GJC), they anticipate that ongoing global economic uncertainties and geopolitical tensions will drive gold prices to reach a historic peak of Rs 70,000 per 10 grams in the coming year. This projection highlights gold’s role as a reliable investment and a valuable safeguard against inflation.
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