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Gold rate today in India on February 17, 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: There were minor fluctuations in retail gold prices observed across different cities on February 17.
Gold Rate Today In India: As of February 17, 2024, fluctuations were observed in gold prices across multiple cities in India. The average price for 10 grams remained around Rs 62,000. To provide a broader perspective, the average cost of 10 grams of 24-carat gold was approximately Rs 62,300, whereas for 22-carat gold, it stood at Rs 57,110.
Also Read: Sovereign Gold Bond Series IV Online Subscription: Here’s A Step-By-Step Guide To Buy & Get Discount
At the same time, the silver market displayed a consistent downward trend, reaching Rs 75,700 per kilogram.
Gold rate today in India: Retail gold price on February 17
Gold Rate Today In Delhi
In Delhi, individuals need to allocate Rs 57,260 for 10 grams of 22-carat gold and Rs 62,450 for an equivalent quantity of 24-carat gold.
Gold Price Today In Mumbai
In Mumbai, 10 grams of 22-carat gold is currently priced at Rs 57,110, whereas the same amount of 24-carat gold is valued at Rs 62,300.
Gold Rate Today In Chennai
In Chennai, the price for 10 grams of 22-carat gold is Rs 57,610, and for the same amount of 24-carat gold, it’s Rs 62,850.
Check gold rates today in different cities on February 17, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Ahmedabad | 57,160 | 62,350 |
| Kolkata | 57,110 | 62,300 |
| Gurugram | 57,260 | 62,450 |
| Lucknow | 57,260 | 62,450 |
| Bengaluru | 57,110 | 62,300 |
| Jaipur | 57,260 | 62,450 |
| Patna | 57,160 | 62,350 |
| Bhubaneshwar | 57,110 | 62,300 |
| Hyderabad | 57,110 | 62,300 |
Multi Commodity Exchange
On February 16, 2024, the futures for gold set to expire on April 05 were actively traded at Rs 61,832 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024, expiration date were quoted at Rs 72,085.
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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