Gold Price Falls In India: Check 24 Carat Rate In Your City On February 12

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Gold rate today in India on February 12, 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 12, 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 12, there were slight fluctuations in retail gold prices across various cities.

Gold Rate Today In India: As of February 12, 2024, fluctuations in gold prices were observed across different cities in India. The average rate for 10 grams remained around Rs 63,000. To provide a broader perspective, the average price of 10 grams of 24-carat gold was approximately Rs 62,950, while the corresponding amount for 22-carat gold stood at Rs 57,700.

Also Read: Sovereign Gold Bond Issue Price Fixed, Opens Today, Check Details Here

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 February 12

Gold Rate Today In Delhi

In Delhi, people have to spend Rs 57,850 for 10 grams of 22-carat gold and Rs 63,100 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 57,700, whereas the same amount of 24-carat gold is valued at Rs 62,950.

Gold Rate Today In Chennai 

In Chennai, the price for 10 grams of 22-carat gold is Rs 58,300, and for the same amount of 24-carat gold, it’s Rs 63,600.

Check gold rates today in different cities on February 12, 2024; (In Rs/10 grams)

City 22 Carat Gold Price 24 Carat Gold Price
Ahmedabad 57,750 63,000
Kolkata 57,700 62,950
Gurugram 58,040 63,300
Lucknow 57,850 63,100
Bengaluru 57,700 62,950
Jaipur 57,850 63,100
Patna 57,750 63,000
Bhubaneshwar 57,700 62,950
Hyderabad 57,700 62,950

Multi Commodity Exchange

On February 12, 2024, the futures for gold set to expire on April 05 were actively traded at Rs 62,210 on the Multi Commodity Exchange. Furthermore, silver futures with a March 05, 2024, expiration date were quoted at Rs 71,120.

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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