Mumbai, March 2: Gold rates (gold prices) in India registered a marginal uptick on Monday, March 2, holding near record levels as intensifying conflict in the Middle East continues to drive safe-haven demand. Following a massive surge over the weekend - fueled by joint US-Israeli military action against Iran - retail prices for 24-karat gold settled at approximately INR 1,73,090 per 10 grams. On the other hand, 22-karat gold is priced at INR 1,58,660. The bullion market remains on high alert after the reported death of Iran's Supreme Leader during the strikes, a development that has sent international spot gold prices soaring past USD 5,300 per ounce.

Domestic rates reflect this global volatility, with prices rising by roughly INR 1,20,600 per 100 grams over the last three trading sessions. Scroll down to check the gold rate today, March 02, in Delhi, Chennai, Mumbai, Kolkata, Lucknow, Pune, Bengaluru, Hyderabad, Jodhpur, Jaipur, Srinagar, Noida, Ghaziabad, Gurugram and Ahmedabad. Gold Rate Today, March 01, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

City-Wise Retail Rates of Gold

Retail gold prices vary across Indian cities due to differences in local taxes, transportation costs, and jewelry association set-rates. Below are the current rates for 22-karat and 24-karat gold in major urban centers:

Gold Rate Today, March 02, 2026

City 22K Gold (per 10g) 24K Gold (per 10g)
Delhi INR 1,73,240 INR 1,58,810
Mumbai INR 1,73,090 INR 1,58,660
Chennai INR 1,72,100 INR 1,35,010
Ahmedabad INR 1,73,140 INR 1,58,710
Kolkata INR 1,73,090 INR 1,58,660
Bengaluru INR 1,73,090 INR 1,58,660
Hyderabad INR 1,73,090 INR 1,58,660
Jaipur INR 1,73,240 INR 1,58,810
Pune INR 1,73,090 INR 1,58,660
Noida INR 1,73,240 INR 1,58,810
Gurugram INR 1,73,240 INR 1,58,810
Ghaziabad INR 1,73,240 INR 1,58,810
Lucknow INR 1,73,240 INR 1,58,810
Bhopal INR 1,73,140 INR 1,58,710
Jodhpur INR 1,68,900* INR 1,54,840*
Srinagar INR 1,68,990* INR 1,54,930*

Safe-Haven Demand Amidst Conflict

The primary driver behind the current rally is the sharp escalation in the Iran-Israel confrontation. Historically, gold is viewed as the ultimate store of value during times of war or economic instability. Investors are aggressively rotating away from sovereign bonds and equities - both of which saw significant dips today - to secure their wealth in precious metals. Gold Rate Today, February 28, 2026: Check 22K and 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Currency Pressures and Domestic Impact

Beyond geopolitics, the Indian Rupee's performance is further inflating local prices. The rupee traded near USD 91.39 against the US Dollar on Monday morning. Since India imports the vast majority of its gold, a weakening currency makes the metal more expensive to procure on the international market, a cost that is passed directly to the consumer. Despite these record-high prices, demand remains resilient in several parts of the country due to the ongoing wedding season and the auspicious occasion of Holika Dahan.

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(The above story first appeared on LatestLY on Mar 02, 2026 08:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).