Gold rate in Amritsar
gold rate in amritsar

24K Gold/ 10gm
57,440.00
0.00(0.00%)
22K Gold/ 10gm
54,700.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Amritsar is one of the most important cities in Punjab. Its economy is mostly based on agriculture, textiles, tourism, and related industries. The city is also known for its magnificent Golden Temple, and popular tourist spots such as Jalianwala Bagh, and the famous Wagah border. During the wedding season and after a good monsoon, the city's gold trade tends to flourish and witness a spike in demand. For gold shopping, Guru Bazaar is one of the most-visited markets in Amritsar.

However, gold rates in Amritsar fluctuate as it is dependent on multiple factors like changes in government policies, inflation, international gold prices, and currency conversion changes. During the festival season or following a good harvest, people opt to buy gold for investment and personal use. Amritsar has always experienced high demand for gold, especially during festivities, wedding seasons, and auspicious occasions.

Let us have a look at the gold prices in the city.

22K & 24K Gold Rates Per Gram in Amritsar

24K
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GramYesterdayToday
1gm
5,744.00
0.00 (0.00%)
5,744.00
0.00 (0.00%)
8gm
45,952.00
0.00 (0.00%)
45,952.00
0.00 (0.00%)
10gm
57,440.00
0.00 (0.00%)
57,440.00
0.00 (0.00%)
100gm
5,74,400.00
0.00 (0.00%)
5,74,400.00
0.00 (0.00%)

Factors Affecting the Gold Prices in Amritsar

Gold prices are very dynamic and are dependent on multiple factors. - Inflation- One of the significant factors that impact these rates is inflation. As inflation increases, people prefer to buy gold as a safe haven. This is because gold investments are believed to give excellent returns despite growing inflation. - High demand- Another factor that affects gold prices in Amritsar is a surge in demand, particularly during the wedding season, and festive and auspicious occasions. If gold rates increase in global markets, gold prices also increase in Amritsar or vice versa. - Government Policy- Changes in government policy related to import regulation and taxation also affect the gold prices in Amritsar.

Historical gold rates in Amritsar in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,744.00
0.00 (0.00%)
5,470.00
0.00 (0.00%)
03 Feb 2023
5,744.00
0.00 (0.00%)
5,470.00
0.00 (0.00%)
02 Feb 2023
5,744.00
90.00 (1.60%)
5,470.00
85.00 (1.58%)
01 Feb 2023
5,654.00
26.00 (0.47%)
5,385.00
25.00 (0.47%)
31 Jan 2023
5,628.00
-16.00 (-0.28%)
5,360.00
-15.00 (-0.27%)
30 Jan 2023
5,644.00
0.00 (0.00%)
5,375.00
0.00 (0.00%)
29 Jan 2023
5,644.00
0.00 (0.00%)
5,375.00
0.00 (0.00%)
28 Jan 2023
5,644.00
16.00 (0.29%)
5,375.00
15.00 (0.28%)
27 Jan 2023
5,628.00
-63.00 (-1.10%)
5,360.00
-60.00 (-1.10%)
26 Jan 2023
5,691.00
42.00 (0.75%)
5,420.00
40.00 (0.75%)

How Does GST Impact Gold Rates in Amritsar?

As the Goods and Services Tax (GST) was implemented, it resulted in a hike in the prices of gold in Amritsar. Around 10% import duty, 1.2% value-added tax, and 1% customs duty were paid on gold price before GST came into force. After GST was introduced, buyers paid 3% GST and 10% import duty on the gold price. Thus, after GST, the total cost of gold, including VAT and customs duty, increased. Moreover, 5% making charges are also levied, increasing the overall gold price in Amritsar.

Weekly & monthly gold rate in Amritsar
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Investment Options For Gold in Amritsar

Known as a vibrant city with cultural dynamism, Amritsar is also home to many NRIs as many people from the city migrate to countries such as Canada and the US. Amritsar is a city that is linked with a higher purchasing power as people show a clear interest in buying gold jewellery. There is always interest and increased demand for it during festivities. Many people in Amritsar are also open to investing in bullion and coins that help them to beat the challenges of unexpected economic uncertainties and inflation. They are open to the idea of investing in gold exchange-traded funds (ETFs), gold-saving funds, digital gold, etc.

Trend of Gold rates in Amritsar

1 gram
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Day24K Gold22K Gold
01 February 202356545385
07 February 202300
Highest57445470
Lowest56545385

Know More About 916 Hallmarked Gold Prices in Amritsar

As we know that gold prices vary based on several factors, including purity, it is essential to know about purity levels before investing in this metal. According to the World Gold Council, 22-karat gold has 91.6% purity, and 24-karat gold has 99.9% purity. When we talk about 916 hallmarked gold, the reference is to 22-karat gold.

Meanwhile, gold hallmarking is done by the Bureau of Indian Standards, and buying hallmarked gold is an assurance of its purity. When buying gold, check the gold rate in Amritsar for 22-karat as it may be different than other cities of the country. Check the rates mentioned above to have complete information about gold rates in different cities.

Frequently Asked Questions on Gold Price in Amritsar

Which one should I prefer - a gold loan or a personal loan?

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Which are the top gold jewellers in Amritsar?
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Which one should I buy? 24-karat or 22-karat?
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What are the different gold investment options apart from physical gold?
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