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.
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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