Gold Price, March 5, Today: 22-Carat and 24-Carat Rates in Major Cities

India's gold market saw a significant surge on Wednesday as prices moved up by some Rs 500 during the morning session. Until March 5, 2025, gold prices in Mumbai were trading above Rs 80,650 for 22-carat and Rs 87,980 for 24-carat per 10 grams.

This comeback in gold prices is due to new tariff retaliations, with the US being tariffed by Canada and China, which is sparking safe-haven demand. "The rally in gold was driven by fresh tariff retaliations, with Canada and China imposing tariffs on the US, fuelling safe-haven demand," says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

On the other hand, silver prices remained unchanged at Rs 98,000 per kg in the spot market in major Indian cities. Gold traded lower at Rs 85,994 per 10 grams on the Multi Commodity Exchange (MCX), while silver jumped 0.42 per cent to trade at Rs 96,664 per kg.

Gold Prices in Major Indian Cities

Here's an overview of gold prices in major Indian cities:

 Delhi: Rs 80,800 (22-carat), Rs 88,130 (24-carat)
 Jaipur: Rs 80,800 (22-carat), Rs 88,130 (24-carat)
 Ahmedabad: Rs 80,700 (22-carat), Rs 88,030 (24-carat)
 Patna: Rs 80,700 (22-carat), Rs 88,030 (24-carat)
 Mumbai: Rs 80,650 (22-carat), Rs 87,980 (24-carat)
 Hyderabad: Rs 80,650 (22-carat), Rs 87,980 (24-carat)
 Chennai: Rs 80,650 (22-carat), Rs 87,980 (24-carat)
 Bengaluru: Rs 80,650 (22-carat), Rs 87,980 (24-carat)
 Kolkata: Rs 80,650 (22-carat), Rs 87,980 (24-carat)

Factors Affecting Gold Prices in India

Gold rates in India are mainly driven by global market prices, import tax, duty, and exchange rate fluctuations. They set the daily gold price all over the country, so investors and traders need to remain informed about market trends.

Gold in India is not only a precious metal but also has huge cultural and economic importance, hence being a sought-after investment choice and a part of celebrations like weddings and festivals. With ever-evolving market conditions, it becomes extremely important for investors and traders to negotiate dynamic trends skillfully.

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