Gold Prices Surge to ₹1,50,050 in Amritsar Amid Market Volatility
The gold market in Amritsar has seen significant fluctuations over the past few months. In August, the price of 24k gold rose to ₹1,50,050 per 10 grams by August 8th. This marked a high point for the month, following a low of ₹1,44,140 on August 5th.
Looking at historical data from previous months, gold prices in Amritsar have been on an upward trend. In May, prices rose to ₹1,57,190 per 10 grams by May 31st, while in July, they settled at ₹1,44,490 per 10 grams by the end of the month.
However, there are also signs of volatility in the market. Prices dropped significantly in June, settling at ₹1,42,070 per 10 grams by June 30th. Similarly, a decline was seen in March, with prices settling at ₹1,48,420 per 10 grams by March 31st.
It's worth noting that gold purity is measured in karats, with 24K being the purest form but also too soft for jewellery. The final showroom price of gold is always higher than the benchmark price due to making charges and GST.