(Kitco News) – Gold and silver prices are higher and near their daily highs near midday Wednesday. Bullish near-term technical postures and positive outside-market forces (weaker USDX and firmer crude oil) are supporting buying interest in both precious metals today. April gold was last up $9.50 at $2,175.90. May silver was last up $0.361 at $24.76.

The marketplace has digested Tuesday’s U.S. consumer price index for February that came in a bit warmer than expected, at up 3.2%, year-on-year, versus market expectations for a rise of 3.1%, and compares to a rise of 3.1% seen in the January report. The core CPI number for February was up 3.8% compared to expectations of up 3.7% and up 3.9% seen in the January report. The slightly warmer CPI readings followed the slightly warmer-than-expected CPI report for January. Thursday’s February producer price index report is now in focus. PPI in February is seen coming in up 0.3%, month-on-month, following a 0.3% rise in the January report. More warm U.S. inflation readings in the coming weeks may prevent the Federal Reserve from cutting interest rates as soon as it had just recently anticipated.

Asian and European stock markets were mixed in overnight trading. U.S. stock index futures are mixed near midday but not far below their recent record highs.

The key outside markets today see the U.S. dollar index weaker. Nymex crude oil prices are higher and trading around $79.25 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently fetching around 4.2%.

Technically, April gold futures bulls have the strong overall near-term technical advantage. A steep four-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,203.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $2,100.00. First resistance is seen at Tuesday’s high of $2,190.80 and then at the contract high of $2,203.00. First support is seen at today’s low of $2,161.30 and then at this week’s low of $2,156.20. Wyckoff’s Market Rating: 8.5.

May silver futures prices were poised to close at a nine-week-high close today. The silver bulls have the overall near-term technical advantage. Silver bulls’ next upside price objective is closing prices above solid technical resistance at $26.00. The next downside price objective for the bears is closing prices below solid support at $23.00. First resistance is seen at this week’s high of $24.90 and then at $25.00. Next support is

seen at this week’s low of $24.22 and then at $24.00. Wyckoff’s Market Rating: 6.5.

May N.Y. copper closed up 1,085 points at 404.05 cents today. Prices closed near the session high and hit an 8.5-month high. The copper bulls have the solid overall near-term technical advantage and gained more power today. Prices are in a steep four-week-old uptrend on the daily bar chart. Copper bulls’ next upside price objective is pushing and closing prices above solid technical resistance at 415.00 cents. The next downside price objective for the bears is closing prices below solid technical support at this week’s low of 387.85 cents. First resistance is seen at today’s high of 404.30 cents and then at 407.50 cents. First support is seen at 400.00 cents and then at 395.00 cents. Wyckoff’s Market Rating: 8.0.

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Gold prices edged higher on Wednesday after dropping more than 1% in the previous session, as investors digested hotter-than-expected US inflation data and still banked on a Federal Reserve interest rate cut in June.

Spot gold edged up 0.3% to $2,163.12 per ounce, as of 1047 GMT. Bullion posted its worst single-day drop since Feb. 13 on Tuesday. U.S. gold futures rose 0.1% to $2,168.50.

“The market driver behind the decline of gold is quite clear as the U.S. CPI numbers came in higher than expected,” said Carlo Alberto De Casa, market analyst at Kinesis Money.

“It’s just a physiological correction after a long strike of positive days and markets are realizing that the Fed will not cut rates too quickly.”

Bullion slumped 1.1% on Tuesday as data indicated that U.S. consumer prices rose sharply in February, above expectations and indicating some inflation stickiness.

Higher-than-expected inflation means that the US Fed will be under more pressure to keep interest rates higher for longer, weighing on non-yielding assets such as gold.

However, Fed policymakers are still seen starting interest-rate cuts in June, even as a government report showed consumer prices rose last month more than expected.

Traders now see about a 65% chance of a interest rate cut from the Fed in June, slight lower from the 72% seen before the data, according to the CME Group’s FedWatch Tool.

“While physical gold demand has been holding up well since 2021, a sharp price rally is likely to temper discretionary gold buying in 2024,” analysts at ANZ Research wrote in a note.

Focus now shifts to U.S. retail sales, producer price index, and weekly initial jobless claims print due on Thursday, which will provide a further update on the status of the US economy.

Spot platinum rose 1.2% to $934.85 per ounce, palladium gained 2.7% to $1,069.50 and silver was up 0.5% at $24.27.

New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the results from 61 diamond drill holes that were completed as part of a program designed to infill gaps, extend high-grade to surface, and test opposing vein orientations to the main east-northeast striking orientation of the Keats-Baseline Fault Zone at Iceberg-Iceberg East, a high-grade zone located 300m northeast of Keats along the highly prospective Appleton Fault Zone (“AFZ”). New Found’s 100%-owned Queensway project comprises a 1,662 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240313762569/en/

Iceberg and Iceberg East Highlights:

Table 1: Iceberg and Iceberg East Drilling Highlights

Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 170% to 95%, 240% to 70%, and 310% to 40% of reported intervals. 4True widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.

• 36.2 g/t Au over 16.70m in NFGC-23-1820 and 33.7 g/t Au over 14.70m in NFGC-23-1827 are located approximately 45m apart within the high-grade domain of Iceberg where a confluence of high-grade gold veins and associated structures intersect. These holes were drilled from the west to the east to better test this secondary set of gold veins that are partly controlling the high-grade mineralization in this segment of the Keats-Baseline Fault Zone (“KBFZ”) and to gain a better understanding of their orientations and true widths.
• 40.5 g/t Au over 5.85m in NFGC-23-1838 and 13.9 g/t Au over 12.80m in NFGC-23-1914 are located at a vertical depth of just 20m and were designed to extend high-grade gold mineralization to surface at Iceberg. These holes are located 50m to the south and 150m to the north of NFGC-23-1820, respectively.
• Other notable intercepts from today’s release include 12.6 g/t Au over 16.70m in NFGC-23-1323 and 42.8 g/t Au over 7.35m in NFGC-23-1746, located 25m and 80m along strike to the north of NFGC-23-1820. The intercept of 24.9 g/t Au over 2.25m in NFGC-23-1613 is located a further 530m to the east at the far eastern extent of Iceberg East.
• The near-surface Iceberg-Iceberg East high-grade segment of the KBFZ has a strike length of 655m. When combined with the 400m high-grade segment of Keats Main, this near-surface, high-grade corridor covers over 1km of strike. This domain of high-grade occurs within the overall KBFZ, a gold mineralized damage zone that is drill-defined over 1.9km of strike, where it remains open.

Melissa Render, VP of Exploration of New Found, stated: “Infill and definition drilling at Iceberg and Iceberg East have provided us with a comprehensive picture of the near-surface expression of this portion of the KBFZ, including the geometries of the veins at play and the controls on high-grade gold mineralization. The KBFZ has demonstrated several times over that it is a very important structure, with the majority of meters used to date to test only the top 250m vertical. The Company has now expanded the program at Iceberg-Iceberg east utilizing the seismic data to assist in targeting additional domains of gold mineralization within the KBFZ at depth.”

Drillhole Details

Table 2: Summary of composite results reported in this press release for Iceberg and Iceberg East

Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 170% to 95%, 240% to 70%, and 310% to 40% of reported intervals. 4True widths are unknown at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.

Table 3: Details of drill holes reported in this press release

Queensway 650,000m Drill Program Update

The Company is currently undertaking a 650,000m drill program at Queensway and approximately 4,500m of core is currently pending assay results.

Sampling, Sub-sampling, and Laboratory

All drilling recovers HQ core. Drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.

A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.

Technicians saw the core along the defined cutting line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.

New Found has submitted samples for gold determination by fire assay to ALS Canada Ltd. (“ALS&CloseCurlyDoubleQuote;) and by photon assay to MSALABS (“MSA&CloseCurlyDoubleQuote;) since June 2022. ALS and MSA operate under a commercial contract with New Found.

Drill core samples are shipped to ALS for sample preparation in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick. ALS is an ISO-17025 accredited laboratory for the fire assay method.

Drill core samples are also submitted to MSA in Val-d&CloseCurlyQuote;Or, Quebec. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is an ISO-17025 accredited laboratory for the photon assay method.

At ALS, the entire sample is crushed to approximately 70% passing 2mm. A 3,000-g split is pulverized. “Routine&CloseCurlyDoubleQuote; samples do not have visible gold (VG) identified and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry (ICP) finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire assayed and two splits of the fine fraction (sized less than 106 microns) are fire assayed. The three assays are combined on a weight-averaged basis. Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for gold.

At MSA, the entire sample is crushed to approximately 70% passing 2mm. For “routine&CloseCurlyDoubleQuote; samples that do not have VG identified and are not within a mineralized zone, the samples are riffle split to fill one 450g jar for photon assay. If the jar assays greater than 1 g/t, the remaining crushed material is weighed into multiple jars and are submitted for photon assay.

For samples that have VG identified or are within a mineralized zone, the entire crushed sample is weighed into multiple jars and are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.

All samples prepared at ALS or MSA are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.

Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory&CloseCurlyQuote;s internal quality assurance programs.

Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found&CloseCurlyQuote;s quality control protocols.

New Found&CloseCurlyQuote;s quality control program also includes submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.

The Company does not recognize any factors of drilling, sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed.

The assay data disclosed in this press release have been verified by the Company&CloseCurlyQuote;s Qualified Person against the original assay certificates.

The Company notes that it has not completed any economic evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves.

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this press release dated March 13, 2024, by New Found. Mr. Matheson certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 650,000m drill program at Queensway and is well funded for this program with cash and marketable securities of approximately $49 million as of March 2024.

Please see the Company&CloseCurlyQuote;s website at www.newfoundgold.ca and the Company&CloseCurlyQuote;s SEDAR+ profile at www.sedarplus.ca.

Acknowledgements

New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Contact

To contact the Company, please visit the Company&CloseCurlyQuote;s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement Cautions

This press release contains certain “forward-looking statements&CloseCurlyDoubleQuote; within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Company&CloseCurlyQuote;s Queensway gold project in Newfoundland and Labrador; assay results; the interpretation of drilling and assay results, the results of the drilling program, mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the timing of same; the merits of the Queensway project; future press releases by the Company; and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects&CloseCurlyDoubleQuote;, “plans&CloseCurlyDoubleQuote;, “anticipates&CloseCurlyDoubleQuote;, “believes&CloseCurlyDoubleQuote;, “interpreted&CloseCurlyDoubleQuote;, “intends&CloseCurlyDoubleQuote;, “estimates&CloseCurlyDoubleQuote;, “projects&CloseCurlyDoubleQuote;, “aims&CloseCurlyDoubleQuote;, “suggests&CloseCurlyDoubleQuote;, “demonstrates&CloseCurlyDoubleQuote;, “encouraging&CloseCurlyDoubleQuote;, “indicate&CloseCurlyDoubleQuote;, “often&CloseCurlyDoubleQuote;, “target&CloseCurlyDoubleQuote;, “future&CloseCurlyDoubleQuote;, “likely&CloseCurlyDoubleQuote;, “pending&CloseCurlyDoubleQuote;, “potential&CloseCurlyDoubleQuote;, “goal&CloseCurlyDoubleQuote;, “objective&CloseCurlyDoubleQuote;, “prospective&CloseCurlyDoubleQuote;, “possibly&CloseCurlyDoubleQuote;, “preliminary&CloseCurlyDoubleQuote;, and similar expressions, or that events or conditions “will&CloseCurlyDoubleQuote;, “would&CloseCurlyDoubleQuote;, “may&CloseCurlyDoubleQuote;, “can&CloseCurlyDoubleQuote;, “could&CloseCurlyDoubleQuote; or “should&CloseCurlyDoubleQuote; occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s Annual Information Form and Management&CloseCurlyQuote;s discussion and Analysis, publicly available through the Canadian Securities Administrators&CloseCurlyQuote; System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240313762569/en/

The price of gold today, as of 9:09am, was £1,687.29 per ounce. That’s up 0.08% on yesterday’s closing price of £1,685.98.

Compared to last week, the price of gold is up 2.53%, and it’s up 5.24% from one month ago.

The 52-week gold price high is £1,698.02, while the 52-week gold price low is £1,581.70.

Gold Prices Today

Gold Price Over Time

How to invest in gold

Many investors consider gold to be the ultimate safe-haven asset, relying on the theory that when the prices of shares, bonds and property drop sharply, gold may hold its value – and its price can even increase as nervous investors rush in to buy.

Investing in gold is also a way to add diversification to your investment portfolio. When you hold a diversified mix of different assets, including gold, varying returns can protect the value of your investments.

There are several ways to invest in gold. Each has pros and cons…

One option is to buy gold in physical form:

• Gold bars. Known as bullion, gold bars tend to be a popular choice for buying gold. Bullion is typically sold by gram or ounce. Purity, manufacturer and weight should be stamped on the face of the bar.
• Gold coins. The Sovereign and Britannia are popular collectables that command a premium over what you would get for the same amount of gold in the form of bullion.
• Gold jewellery. Like gold coins, you’ll probably be paying extra for gold when you buy it in the form of jewellery – a premium that could be anywhere from 20% to 300%, depending on the manufacturer.

Alternatively, investors can invest in gold indirectly:

• Gold shares. Buying the stocks of gold mining or processing companies is another way to invest in the yellow metal. You don’t get to own physical gold, but you do get exposure to the rise and fall of the price of gold in the market.
• Gold funds. There are a range of funds that provide exposure to gold. They may invest in gold stocks, or they may trade gold derivatives in the options and futures markets.

Should you invest in gold?

You should consider investing in gold if you’re looking to hedge against risk or diversify your portfolio. Gold would probably not be your first choice to earn long-term capital growth.

Over the past five years, the price of gold has appreciated approximately 36% while the total return of the S&P 500 has been 60%.

Gold prices can be extremely volatile, and that means that gold isn’t an entirely stable investment. In fact, you can easily craft a well-diversified investment portfolio entirely without gold.

It should also be noted that gold in its physical form, unlike other investments, does not produce an income or yield.

If you buy physical gold, you also need to consider where you are going to keep it, and whether there will be costs associated with secure storage.

Is gold an inflation hedge?

Studies have found that gold may be an effective way to defend your wealth against inflation, but only over extremely long periods of time, measured in decades or even centuries.

Over shorter time periods, the inflation-adjusted price of gold fluctuates dramatically, typically making it a poor near-term hedge for inflation.

Gold Silver Price Today 13 March 2024: Gold and Silver prices both went down the Multi Commodity Index on Wednesday.

The average price of 10 gram of 22K Gold stood at ₹60,350 while the 24K gold prices stood at ₹65,840. 

The rate of 10 grams of 24K gold in Chennai stood at ₹66,650, which was followed by Delhi and Jaipur where the gold costs ₹65,990. 

The average price of 1 kg of silver stood at ₹75,200.

However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹78,500 followed by Delhi and Mumbai where the metal was sold at ₹75,600

24 Carat Gold Price Today 13 March (per 10gm) – Indian Top Cities

Delhi – ₹65,990
Chennai – ₹66,650
Mumbai – ₹65,840
Kolkata – ₹65,840
Bengaluru – ₹65,840

1 KG Silver Price Today 13 March – Indian Top Cities

Delhi – ₹75,200
Chennai – ₹78,500
Mumbai – ₹75,200
Kolkata – ₹75,200
Bengaluru – ₹75,100

Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.

Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

During 2023-24, gold exhibited remarkable returns, surpassing expectations and emerging as a robust asset for investors in the face of economic uncertainties and market fluctuations. The yellow metal achieved a new pinnacle, reaching Rs 66,100 on Monday.

Factors such as inflation concerns and geopolitical tensions contributed to the increased demand for gold, making it a standout performer in investment portfolios.  

The notable 12-3% return in gold thus far in 2023-24 emphasizes its resilience as an investment, appealing to investors in search of stability and a hedge against economic uncertainties.

Sebi orders Vedanta to pay Cairn Rs 77.6 cr; bars Navin & Priya Agarwal from mkt

Jitters for small, mid-caps

Stock Market LIVE: Sensex, Nifty trade at day lows today! Nifty below 22,150, Sensex near 73,200; Midcap index dips over 1600 points

Stocks To Watch: ITC, Vedanta, ICICI Pru AMC, Aurobindo Pharma, Shalby, JG Chemicals Shree Cement

The record-breaking surge in gold prices is not merely a result of market fluctuations but is intricately tied to a complex interplay of global and domestic factors. Central banks worldwide have engaged in significant gold purchases, creating a surge in demand that has reverberated through the market.  

Simultaneously, within domestic markets, the confluence of festive and wedding seasons has driven a healthy demand for gold, further contributing to the remarkable price hike.  

In 2024, potential opportunities in the bullion market may stem from ongoing economic uncertainties, concerns about inflation, or geopolitical tensions. It is advisable for traders and investors to diligently observe global events, central bank policies, and market trends in order to pinpoint strategic entry points within the precious metals market. Gold and silver stand out as plausible safe-haven assets amid volatile conditions.

What Analyst Predict on Gold?

“Gold is trading at record high prices around $2200 (~Rs 66000) on strong demand from China, as Chinese investors are hedging against potential economic instability amid the commercial real estate crisis in their country. Moreover, lower growth concerns in other economies around the world is also supporting the prices,” said Sachin Kothari, Director of Augmont Gold for All.

Kothari also added that, some investors are trying to hedge against the possibility of higher-than-expected inflation, realign their portfolios after the stock market boom, and protect themselves from geopolitical instability. Concerns about wars between Russia and Ukraine and Israel and Hamas, as well as the upcoming presidential election in November, are among the concerns that investors have. 

“The price of gold experienced a historic upswing, reaching a record high of $2,195 per ounce. Several geopolitical factors, including speculations in the policy by the US Federal Reserve and a weakening US Dollar, have contributed to the rise in gold prices. This, in turn, led to an increased procurement of gold by central banks,” said Amit Goel, Co-Founder and Chief Global Strategist at Pace 360

Goel also added, Despite high-interest rates and robust equity markets, gold has sustained its strong performance. Positioned at the cusp of a multi-year bull run, we anticipate a multi-fold return in the coming years. All global macro-fundamental factors align to highlight the stunning potential of this asset class.

The price of 24-carat gold slipped Rs 10 in early trade on Wednesday, March 13, with ten grams of the yellow metal trading at Rs 66,250. The price of silver, on the other hand, increased by Rs 100, with one kilogram of the precious metal selling at Rs 76,200.

The price of 22-carat gold also dropped Rs 10 with the precious metal selling at Rs 60,730.

Gold rate today in India: Retail gold price on March 13

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 66,250.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 66,400, Rs 66,250, and Rs 67,080, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 60,730.

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 76,200.

Check gold rates today in different cities on March 13, 2024; (In Rs/10 grams)

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.

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.

The price of gold in Mumbai is 6073 per gram for 22 karat gold and 6625 per gram for 24 karat gold.

The price of gold in India today is 6,073 per gram for 22 karat gold and 6,625 per gram for 24 karat gold

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Check Gold Price In Your City Today On 13th March 2024

Gold Price Today In Mumbai

The price of gold in Mumbai is 6073 per gram for 22 karat gold and 6625 per gram for 24 karat gold.

Gold Price Today In Kolkata

The gold price today in Kolkata is 6073 per gram for 22 karat gold and 6625 per gram for 24 karat gold.

Gold Price Today In Chennai

The Gold price today in Chennai is 6148 per gram for 22 karat gold and 6708 per gram for 24 karat gold.

Gold Price Today In Delhi

The gold price today in Delhi is 6088 per gram for 22 karat gold and 6640 per gram for 24 karat gold.

Gold Price Today In Thane

The gold price today in Thane is 6073 per gram for 22 karat gold and 6625 per gram for 24 karat gold.

Gold Price Today In Surat

The gold price today in Surat is 6078 per gram for 22 karat gold and 6630 per gram for 24 karat gold.

Gold Price Today In Pune

The gold price today in Pune is 6073 per gram for 22 karat gold and 6625 per gram for 24 karat gold.

Gold Price Today In Nagpur

The gold price today in Nagpur is 6073 per gram for 22 karat gold and 6625 per gram for 24 karat gold.