This article gives information on 22 carat and 24 carat gold rate in Amritsar and other factors that impact the gold rate in Amritsar live.
Different modes of study along with past data are laid down in this article which gives a clear and detailed insight on gold rates and its fluctuations.
The city of Amritsar is well known for its golden temple and is an attraction for about millions of tourists from all around the globe.
The use of gold in the city of Amritsar is a casual act as the city is glided with about 750kg of gold in the temple’s dome.
However, despite of the city’s rich heritage and infrastructure, the gold rate in Amritsar today has multiple reasons for its movement.
22 Carat Gold Rate in Amritsar – Gold Price in Amritsar Today
22 carat gold, is the gold used by households in order to make jewellery and ornaments. It is not pure gold unlike 24 carat gold. This section provides data on 22 carat gold rate in Amritsar.
The table gives information on the previous day and today’s prices of 22 carat gold. It also has percentage change in gold price in Amritsar today in 1 gram, 10 gram and 100 gram.
24 Carat Gold Rate in Amritsar Today – Gold Price in Amritsar
24 carat gold is 100 percent gold and is basically the form of gold used in making of The Golden Temple of Amritsar.
The below table gives comparison between 24 carat gold rate in Amritsar today and yesterday for 1 gram, 10 gram and 100 gram. To view percentage change in pure gold price in Amritsar, view this section’s table.
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Gold Price in Amritsar for Last 15 Days
Past numbers are always very significant to analyse future trends. For the reader’s reference, we have compiled information on 22 carat and 24 carat gold price in Amritsar for the past 15 days.
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Graph of Gold Rate Today in Amritsar – Also Past Gold Price in Amritsar
A pictorial representation of data always facilitates better understanding of data and drawing necessary conclusions from the same.
Therefore, we have graphed past records of gold rate in Amritsar. To know more on how the gold rate in Amritsar has moved along sometime, refer to the section below.
Gold Price in Amritsar – Past 6 Months Price
Information on the gold rate in Amritsar for the past 6 months is provided in this section below. Have an overview of the same to understand the fluctuations better.
Gold rate analysis in Amritsar for August 2020
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,182||₹ 5,443|
|08-08-2020||₹ 5,421||₹ 5,692|
|15-08-2020||₹ 5,116||₹ 5,378|
|22-08-2020||₹ 5,134||₹ 5,391|
|31-08-2020||₹ 5,002||₹ 5,252|
|Highest Rate in August||₹ 5,477||₹ 5,752|
|Lowest Rate in August||₹ 4,990||₹ 5,236|
Amritsar is not only a big city in Punjab but also a home for thousands of businessmen. People here trade in gold widely as this metal never disappoints investors and traders. Gold is popular in both the forms here namely 22 Ct and 24 Ct.
Traders residing in this city monitor the price of this precious yellow metal very closely as the rates fluctuate every hour. Investors follow the rates for the past 2 weeks as it helps them in cracking the best deal.
This article will present the latest rates of 22 Ct and 24 Ct Gold in Indore for August 2020. It will be very helpful for both traders and investors for making good business decisions.
- On the first day of the month, the rate of 1 gram of 22 Ct Gold was Rs.5182 and on 31st it was Rs.5002
- The opening and closing rates for one gram of 24 Ct Gold were Rs.5443 and Rs.5252 respectively
- In August 2020, the rate of 22 Ct Gold per gram fluctuated between the highest and the lowest marks of Rs.5477 and Rs.4990 respectively
- 24 Ct Gold touched the highest price of Rs.5752 per gram and the lowest price of Rs.5236 per gram
- The performance percentages were on the higher side and they were 9.76% for 22 Ct and 9.85% for 24 Ct Gold
Gold rate analysis in Amritsar for July 2020
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,712||₹ 4,953|
|08-07-2020||₹ 4,728||₹ 4,968|
|15-07-2020||₹ 4,778||₹ 5,018|
|22-07-2020||₹ 4,790||₹ 5,026|
|31-07-2020||₹ 5,156||₹ 5,414|
|Highest Rate in July||₹ 5,157||₹ 5,414|
|Lowest Rate in July||₹ 4,695||₹ 4,932|
People in Amritsar who are looking forward to investing in gold should follow this article carefully. They will find below all the important points about this precious metal that are required for making a good investment plan. The highest and lowest prices of gold for July 2020 are provided below and learning them nicely will give a good idea about the market condition.
- In Amritsar, the highest price of 1 gram of 22 Ct Gold for July 2020 was ₹ 5,157 which is on par with many other states
- The lowest value recorded for 22 Ct Gold was ₹ 4,695 per gram
- The topmost and lowest rates for one gram of 24 Ct Gold were ₹ 5,414 and ₹ 4,932 respectively in this month
- The percentages for change in price were 9.84% for 22 Ct Gold and 9.77% for 24 Ct Gold
- Gold rates were on the higher side from the beginning of the month and touched the highest rate on the last day
June 2020, Gold Rate Movement in Amritsar
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,572||₹ 4,801|
|08-06-2020||₹ 4,546||₹ 4,780|
|15-06-2020||₹ 4,607||₹ 4,836|
|22-06-2020||₹ 4,681||₹ 4,912|
|30-06-2020||₹ 4,728||₹ 4,966|
|Highest Rate in June||₹ 4,728||₹ 4,966|
|Lowest Rate in June||₹ 4,516||₹ 4,740|
The details about the price movements and the price trends for June 2020 is given below –
- In this month, the price was slightly volatile as it seems from the price movements given in the table above. The price for 24-carat gold first dropped significantly in the second week of the month but then again moved up the ladder in the consecutive week and then increased at a very slow pace but didn’t fall further.
- Similarly enough, the price of the 22-carat gold also started inching up towards the third week of the month. The price fell drastically at the beginning of the month but picked up momentum later in the month.
- The highest and the lowest price recorded by the 22-carat gold was ₹ 4728 and ₹ 4516 respectively and thus it depicts the fluctuation in the price for the month and the fluctuation is quite evident.
- In the case of the 24-carat gold, the highest price for this month was ₹ 4966 while the lowest price was ₹ 4740. Here also, the volatility is quite visible.
- The overall performance of both 22-carat and 24-carat gold was fair in this month. While the 22-carat gold gained 4.69% in June, 24-carat gold also moved upward and gained 4.77% in this month.
May 2020, Gold Rates in Amritsar
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,392||₹ 4,670|
|08-05-2020||₹ 4,432||₹ 4,708|
|15-05-2020||₹ 4,479||₹ 4,782|
|22-05-2020||₹ 4,506||₹ 4,887|
|31-05-2020||₹ 4,491||₹ 4,898|
|Highest Rate in May||₹ 4,590||₹ 4,908|
|Lowest Rate in May||₹ 4,360||₹ 4,640|
Recent trends are important as the future trends mainly depend on the current market performance.
This section is based on data related to 22 carat and 24 carat gold rates in Amritsar for the month of May. Important points to be noted are mentioned below.
- Price movement of 5 different days of the month is mentioned in the table.
- Highest shift in price was ₹ 4,590 and ₹ 4,908 for 22 carat gold and 24 carat gold respectively.
- On the other hand, the lowest shift was ₹ 4,360 and ₹ 4,640 for both the categories.
- The prices have gradually risen from the beginning of the month till the end of the month.
- Performance analysis is recorded for gold rate in Amritsar per gram is 5.28% and 5.78% for this month for both the categories.
April 2020, Gold Rate Movement in Amritsar
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,954||₹ 4,158|
|08-04-2020||₹ 4,024||₹ 4,420|
|15-04-2020||₹ 4,191||₹ 4,571|
|22-04-2020||₹ 4,073||₹ 4,445|
|30-04-2020||₹ 4,419||₹ 4,695|
|Highest Rate in Apr||₹ 4,492||₹ 4,710|
|Lowest Rate in Apr||₹ 3,953||₹ 4,151|
The below table has information on gold rate movement in Amritsar for the month of March. We hope the pointers are useful for your study.
- The change in prices for this month is more than twice the change in prices for the month of May.
- Highest shift in price was ₹ 4,492 and ₹ 4,710 for 22 carat gold and 24 carat gold respectively.
- On the other hand, the lowest shift was ₹ 3,953 and ₹ 4,151 for both the categories.
- Performance analysis recorded for gold rate in Amritsar per gram is 13.64% and 13.47% for this month for both the categories.
- This month saw a large margin in price rise by the end of the month.
March 2020, Gold Rate Movement in Amritsar
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 3,989||₹ 4,192|
|08-03-2020||₹ 4,211||₹ 4,424|
|15-03-2020||₹ 4,023||₹ 4,226|
|22-03-2020||₹ 3,972||₹ 4,166|
|30-03-2020||₹ 3,954||₹ 4,154|
|Highest Rate in Mar||₹ 4,239||₹ 4,449|
|Lowest Rate in Mar||₹ 3,837||₹ 4,028|
March 2020 marked the lockdown period for the country. It is important to know how policies to curb a pandemic affected the gold price movement in Amritsar. Some noteworthy highlights are also mentioned which should be kept in mind.
- The graph for the month of March is a bell shaped curve.
- Highest recorded gold rate in March in Amritsar is ₹ 4,239 for 22 Carat and ₹ 4,449 for 24 Carat gold.
- Lowest recorded gold rate in March in Amritsar is ₹ 3,837 for 22 Carat and ₹ 4,028 for 24 Carat gold.
- The relative percentage change in the gold price in Amritsar per gram for this month is calculated to be 10.48% and negative 10.45% for both the categories.
- The gold price in Amritsar is lower at the end of the month
February 2020, Gold Price Movement in Amritsar
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,889||₹ 4,080|
|08-02-2020||₹ 3,869||₹ 4,061|
|15-02-2020||₹ 3,929||₹ 4,082|
|22-02-2020||₹ 4,079||₹ 4,278|
|29-02-2020||₹ 3,988||₹ 4,191|
|Highest Rate in Feb||₹ 4,106||₹ 4,307|
|Lowest Rate in Feb||₹ 3,842||₹ 4,034|
The below section has compilation of 22 carat gold rate in Amritsar and how its rates differ from that of 24 carat gold rates. The below points are some important reference from the table.
- Variation of gold prices on 5 different days of the month is mentioned in the table.
- Highest recorded gold rate in Amritsar is ₹ 4,106 for 22 Carat and ₹ 4,307 for 24 Carat gold.
- Lowest recorded gold rate in Amritsar is ₹ 3,842 for 22 Carat and ₹ 4,034 for 24 Carat gold.
- The overall percentage change in the gold rate in Amritsar per gram for February has been approximately 6.87% and 6.77% for 22 and 24 carat gold.
- This month has a steady increase in its gold prices.
January 2020, Gold Price Movement in Amritsar
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,744||₹ 3,927|
|08-01-2020||₹ 3,935||₹ 4,129|
|15-01-2020||₹ 3,806||₹ 3,997|
|22-01-2020||₹ 3,812||₹ 4,004|
|30-01-2020||₹ 3,863||₹ 4,055|
|Highest Rate in Jan||₹ 3,935||₹ 4,129|
|Lowest Rate in Jan||₹ 3,739||₹ 3,924|
Run through the below section for more details on the gold price in Amritsar for the month of January. Compare the changes regarding 22 carat gold price in Amritsar and the impact on 24 carat gold rates.
- The data on the beginning of a year mostly show an upward trend and therefore this month shows the same.
- For 22 carat gold, the highest recorded price is ₹ 3,935 and the lowest price is ₹ 3,739 for this month.
- And 24 carat gold, the highest recorded price is ₹ 4,129 and the lowest price is ₹ 3,924.
- There is a gradual increase in the prices from the first day of the month until the last.
- The relative percentage change in the gold price for this month is calculated to be 5.24% and 5.22% for both the categories as compared to February.
December 2019, Gold Rate Movement in Amritsar
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,651||₹ 3,830|
|08-12-2019||₹ 3,620||₹ 3,801|
|15-12-2019||₹ 3,624||₹ 3,807|
|22-12-2019||₹ 3,640||₹ 3,823|
|30-12-2019||₹ 3,731||₹ 3,917|
|Highest Rate in Dec||₹ 3,745||₹ 3,933|
|Lowest Rate in Dec||₹ 3,594||₹ 3,773|
The year 2019, had great impact on the prices of gold. Therefore, it is a fair point to glance at numbers from December to know changes in 22 and 24 carat gold rate in Amritsar. Check the section below for more information.
- Weekly data is available in the below table.
- For 22 carat gold, the highest recorded price is ₹ 3,745 and the lowest price is ₹ 3,594 for this month.
- And 24 carat gold, the highest recorded price is ₹ 3,933 and the lowest price is ₹ 3,773.
- Performance analysis is recorded for gold rate in Amritsar is 4.20% and 4.24% for this month for both the categories.
- Gold demand for the month of December is high as purchases are more due to festivities and marking an end of a worthy year.
Gold Rate in Amritsar – Trend in 2020
Gold rate trends in Amritsar for the year 2020 are seen to be volatile.
Firstly, the onset of the pandemic lead to a drop in gold prices and then a quick plunge as investors realized that of all other assets, gold remains to be the most liquid.
Also, any change against the US and India’s currency strength, impacts the gold rate worldwide.
The reason for this is because gold is dollar determined, and when dollar is weakened, more gold can be purchased against it.
The tension between India and China increased the market speculation and lead to a crash in the stock market.
However, with the announcement of new government policies in the month of March for the betterment of the society amid the pandemic brought the market rates and the today gold rate in Amritsar under control.
Check out Gold Rates of more cities & states
Gold Rate in Amritsar – Trend in 2019
We saw major volatility in the gold rate trend 2019 in Amritsar. As we know, India is one of the largest importers of gold and uses gold in various forms.
Such demand for gold from the country is seen at the time of large events and happenings, which automatically increases the prices of gold against its limited supply.
2019 had gold fluctuations during different quarter. The first and last quarter shows an upward trend and the second quarter shows decline in prices.
Trade relations with other countries and global movement of gold also have high impact on the historical gold rate in Amritsar.
What makes Gold Rates in Amritsar to increase?
There are many reasons that positively impact gold prices. Gold, being a precious metal its supply is scare and demand keeps on increasing.
Particularly for the state of Amritsar, the demand for gold is very high because of the rich heritage it holds and constant need to maintain its beauty and goodwill.
We have laid down some points that may affect the gold rate in Amritsar as on today:
- Global gold fluctuation can impact India’s gold rates largely.
- When interest rate increases, inflation rises simultaneously. Due to low volatility of gold against micro and macro factors, gold is used as a hedge tool against inflation.
- With good crop soar the gold rates are also affected, as the rural populations demand for gold depends on how well they have earned during the monsoon.
- High liquidity of gold is an important factor why investors choose to invest in it which impacts gold rate in Amritsar today per gram.
What makes Gold Price in Amritsar to decrease?
A coin has two sides, similarly, as there are reasons that may positively impact gold price in Amritsar, there are many reasons that can cause a negative impact too.
It is important to know these reasons in order to safeguard your investment whenever such situations may come along.
The below points should be kept in mind for the same as it can impact today gold price in Amritsar per gram.
- Situations like a global pandemic, trade war and untamed relations between countries can lead to change in gold prices.
- Speculation by investors affects gold prices and can lead to sudden movement in gold rates.
- The rate at which the central bank plans to float the gold reserves in the market.
- Stringent economic policies that only favour other assets like land, commodity or securities can change gold rates.
Why Central Bank Policies impacts Gold Rates in Amritsar?
Decisions by the central bank have a direct or indirect impact on gold rate. The gold reserve let out by the central bank in the market is a reason that directly impacts gold rate.
If gold reserves are kept with the central bank itself then the amount of gold to be circulated in the market will be less, which will lead to increase in demand and vice-versa.
Secondly, the central banks policies on other assets like bonds and securities also change the gold rate in Amritsar.
If policies favour other investment channels then investors are more likely to get attracted to them as their yield of return will be higher.
This will lead to the demand of metal to decrease. Therefore, the gold rate in Amritsar today is a result of the many actions taken by the central bank.
Why Gold Price in Amritsar is different from other Cities?
Every city has different prices that are factored in to determine the overall gold price in Amritsar. Firstly, international prices of gold are taken into account that majorly determines the gold price in the city.
Other expenses include the local taxes laid down on gold, government policies and transportation costs.
The dollar- rupee relation also impacts the gold price in Amritsar 916 by either strengthening the gold rates or leading a plunge onto it.
What is Gold Rate in Amritsar 916 Hallmark gold?
A synonym for 22 carat gold is 916 Hallmark gold. The reason behind it is that this type of gold contains 22 parts of gold which is 91.67% of gold. The remaining 2 parts comprise of other alloy.
However, since this gold is not pure, it has to meet all the terms and conditions of the gold and purity standard. Therefore, 22 carat gold and gold rate in Amritsar 916 are the same.
Find out Gold Rates of more Indian Cities & States
How much is the Tax Levied on Gold Rate in Amritsar?
The central government has imposed liberty on different states to take necessary action on gold taxes. However, since the introduction of GST, it is compulsory for every state to levy 5% GST on the purchase of gold.
Other taxes can differ from trader to trader and depending on making charges by different associations. The minimum cost imposed on tax on gold rate in Amritsar can be approximately between ₹ 30 to ₹ 60 per gram.
Gold Rate in Amritsar – Conclusion
Today gold rate in Amritsar continues to change because of all the above discussed facts. We have tried to make sure to take all the factors into account that impacts the gold rates in the city.
Additional market conditions leading to the change in 22 carat and 24 carat gold rate in Amritsar are also discussed above.
We hope your research on gold rates in Amritsar and the country is fulfilled by the study conducted in this article.
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