Gold prices in India witnessed a sudden surge in the last 24 hours, with rates increasing by Rs. 50 for both 24 carat and 22 carat gold. As on Friday, March 10, 24 carat gold (10 grams) costs Rs. 55,290 while 22 carat gold (10 grams) costs Rs. 50,460.
The increase in gold prices was seen across major cities in India, with Chennai registering 24 carat gold prices at Rs. 52,285 for 10 grams and 22 carat gold prices at Rs. 47,927 for 10 grams. Meanwhile, in the national capital Delhi, the rate of gold for 24 carat (10 grams) is Rs. 55,680 and for 22 carat (10 grams) it is Rs. 51,050.
Similarly, the price of 24 carat gold (10 grams) in Kolkata is Rs. 55,530 and for 22 carat gold (10 grams) it is Rs. 50,900. In Mumbai, the rate of 24 carat gold (10 grams) is Rs. 55,530 while 22 carat gold (10 grams) is priced at Rs. 50,900.
The increase in gold rates is believed to be influenced by global trends and the weakening of the Indian rupee against the US dollar. Investors and consumers who were planning to purchase gold are now having to pay more due to the sudden rise in prices.
Gold is often considered a safe investment option during uncertain times and economic instability, making it a popular choice for many investors. However, with the recent increase in gold rates, consumers may have to re-evaluate their investment options and consider other alternatives.
It remains to be seen whether the upward trend in gold prices will continue in the coming days or if prices will stabilize. Investors and consumers are advised to keep a close eye on the market and make informed decisions regarding their investments.