Gold Rate Rises Today In India: Check 24 Carat Gold Price In Your City On March 8 – News18

Gold Rate Rises Today In India: Check 24 Carat Gold Price In Your City On March 8 – News18

Gold rate today in India on March 8, 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 March 8, there were fall in retail gold prices across various cities in spot market

Gold Rate Today In India: As of March 8, 2024, a rise in gold prices was observed across different cities in India. The average rate for 10 grams remained around Rs 65,730. To provide a broader perspective, the average price of 10 grams of 24-carat gold was approximately Rs 65,730, while the corresponding amount for 22-carat gold stood at Rs 60,250.

At the same time, the silver market displayed a consistent downward trend, reaching Rs 75,500 per kilogram.

Gold rate today in India: Retail gold price on March 8

Gold Rate Today In Delhi

In Delhi, people have to spend Rs 60,400 for 10 grams of 22-carat gold and Rs 65,880 for the same amount of 24-carat gold.

Gold Price Today In Mumbai

In Mumbai, 10 grams of 22-carat gold is currently priced at Rs 60,250, whereas the same amount of 24-carat gold is valued at Rs 65,730.

Gold Rate Today In Chennai 

In Chennai, the price for 10 grams of 22-carat gold is Rs 61,050, and for the same amount of 24-carat gold, it’s Rs 66,600.

Check gold rates today in different cities on March 8, 2024; (In Rs/10 grams)

City22 Carat Gold Price24 Carat Gold Price

Multi Commodity Exchange

On March 8, 2024, the futures for gold set to expire on April 05 were actively traded at Rs 65,382 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024, expiration date were quoted at Rs 74,300.

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.

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