Category: Gold News, News

Gold Rate Today Falls In India: Check 24 Carat Price In Your City On February 8

Gold rate today in India on February 08, 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 February 8th, retail gold prices saw marginal changes in multiple cities.

Gold Rate Today In India: As of February 08, 2024, diverse shifts in gold prices were noted across various cities in India. The consistent price for 10 grams hovered around Rs 63,000. For a more comprehensive understanding, the average price of 10 grams of 24-carat gold was documented at Rs 63,230, while the corresponding figure for 22-carat gold was Rs 58,000.

Meanwhile, the silver market demonstrated a steady upward trajectory, reaching Rs 74,500 per kilogram.

Gold rate today in India: Retail gold price on February 08

Gold Price Today In Mumbai

In Mumbai, 10 grams of 22-carat gold is currently priced at Rs 58,000, whereas the same amount of 24-carat gold is valued at Rs 63,230.

Gold Rate Today In Delhi

In Delhi, people have to spend Rs 58,000 for 10 grams of 22-carat gold and Rs 63,330 for the same amount of 24-carat gold.

Gold Rate Today In Chennai 

In Chennai, the price for 10 grams of 22-carat gold is Rs 58,400, and for the same amount of 24-carat gold, it’s Rs 63,720.

Check gold rates today in different cities on February 08, 2024; (In Rs/10 grams)

City 22 Carat Gold Price 24 Carat Gold Price
Ahmedabad 58,050 63,280
Kolkata 58,000 63,230
Gurugram 58,150 63,330
Lucknow 58,150 63,330
Bengaluru 58,000 63,230
Jaipur 58,150 63,330
Patna 58,050 63,280
Bhubaneshwar 58,000 63,230
Hyderabad 58,000 63,230

Multi Commodity Exchange

On February 08, 2024, the futures for gold set to expire on April 05 were actively traded at Rs 62,439 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024, expiration date were quoted at Rs 70,247.

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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Written by : Editorial team of BIPNs

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