Gold Price Today, 3 March 2021: Check 22k, 24k Gold Price in Delhi, Bangalore, Mumbai, And Other Cities
Gold prices have fallen nearly Rs 11,000 since August 2020 when the precious metal breached the all-time rate at Rs 57,008 per 10 grams.
Gold Price Today, 3 March 2021: The price of gold on Wednesday fell by more than Rs 500 as 10 grams of 24-carat gold cost Rs 45,420 today. In yesterday’s session, gold price rose slightly to Rs 45,950 per 10 grams. Meanwhile, silver is also trading lower at Rs 66,600 a kg, according to the Good Returns website.
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In the international market too, gold was trading 0.49 per cent lower at USD 1,714.50 per ounce in New York as on Tuesday. Gold prices have fallen nearly Rs 11,000 since August 2020 when the precious metal breached the all-time rate at Rs 57,008 per 10 grams.
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Gold and silver remained volatile throughout last week due to the recovery in international prices. Price of gold varies from state to state based on taxes and duties, as well as making charges at different jewellery stores.
22-carat gold price in major cities:
Price of 22-carat gold in New Delhi has dropped to Rs 44,250 per 10 grams, while in Mumbai it costs Rs 44,420. Similarly, gold price in Chennai fell to Rs 42,660 for 10 grams and in Kolkata, gold dipped to Rs 44,640. Meanwhile, the 22-carat gold price in Bangalore today is Rs 42,100 for 10 grams.
|City||22 karat gold (per 10 gm)||24 karat gold (per 10 gm)|
|Chennai||Rs 42,660||Rs 46,540|
|Kolkata||Rs 44,640||Rs 47,340|
|Bengaluru||Rs 42,100||Rs 45,930|
|Pune||Rs 44,420||Rs 45,420|
|Hyderabad||Rs 42,100||Rs 45,930|
|Ahmedabad||Rs 44,640||Rs 46,640|
|Lucknow||Rs 44,250||Rs 48,280|
|Kerala||Rs 42,100||Rs 45,930|
Massive Surge in Demand:
There a massive surge in buying and demand of gold across the country due to the massive drop from above Rs 50,000 fpr 22-carat gold to less than Rs 43,000 in some cities. Speaking to Reuters, a wholesaler from Kolkata said that people are happy with the current price, following which there is good demand for jewelry from retail buyers.
While, gold and silver will remain volatile for the entirety of March, according to experts, the prices are expected to bounce back towards the medium term.
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