In today’s business week, the fourth day, Thursday, witnesses fluctuations in the prices of gold and silver. The latest rates for gold and silver as of February 29, 2024, have been released. In the Delhi bullion market, gold is holding steady from Wednesday’s closing rates, while silver is showing an increase of Rs 300 per kilogram.
Current Gold Rates
- 18 Carat Gold: In the Delhi Sarafa market, the price of 18-carat gold stands at Rs 47,240/- per 10 grams. Meanwhile, in Mumbai and Kolkata, it is trading at Rs 47,120/-, and in Chennai, it is priced at Rs 47,630/- for the same quantity.
- 22 Carat Gold: For 22-carat gold, Delhi is quoting Rs 57,740/- per 10 grams, with Mumbai and Kolkata following at Rs 57,590/-, and Chennai at Rs 58,150/-.
- 24 Carat Gold: The rate for 24-carat gold is Rs 62,990/- per 10 grams in Delhi, while Mumbai and Kolkata are at Rs 62,830/-, and Chennai is trading at Rs 63,440/-.
Current Silver Rates
As for silver, the rate for 1 kilogram is Rs 74,200/- in Delhi, Mumbai, and Kolkata. In Chennai, the price is slightly higher at Rs 75,700/-.
Regional Variances
In Indore, the rates for 18, 22, and 24-carat gold are Rs 47,160/-, Rs 57,640/-, and Rs 62,880/- per 10 grams, respectively. In Bhopal, the rates are the same as Indore.
Production of Silver in India
India’s silver production is limited, with Jharkhand, Uttarakhand, Rajasthan, Karnataka, and Andhra Pradesh being the primary contributors. Despite this, the demand for silver in India surpasses domestic production, leading to imports from countries like Italy, Germany, and Belgium to meet the market’s requirements.
As the trading week progresses, gold prices remain relatively stable, while silver experiences a modest increase. Regional variations and demand-supply dynamics contribute to the nuances in gold and silver prices across different markets. Investors and enthusiasts alike closely monitor these daily fluctuations as they influence the precious metals market and impact trade and investment decisions. Stay tuned for more updates on the dynamic world of gold and silver rates.