Gold has always captured a special place and attention in the hearts of Indians. Most commonly, many Indians consider it a symbol of wealth, tradition, and a good investment option. Nevertheless, over the past six months, the price of gold, sometimes called the 'Yellow Metal' has fluctuated, reflecting both local and global economic conditions.

The fluctuation can be seen as a result of both local and global economic conditions such as economic trends, inflation, and local demand, particularly around festivals and wedding seasons.

A shot glance at gold prices in India: April to September 2024

In India, the gold prices over the six month saw a consistent upward trend from April to September 2024.

Over this six-month period, the price of gold rose significantly, starting from a low of Rs 69,500 in April and reaching a high of Rs 75,643 by September (as of September 27).

This points out an approximate difference of Rs 6,143 in the highest price of gold per 10 grams during this timeframe.

Gold prices in Mumbai: April to August 2024

Similarly, in Mumbai, the market reflected a similar upward trend.

Prices increased from Rs 67,730 in April to a peak of Rs 73,880 in July, before settling at Rs 73,680 in August.

This fluctuation highlights an overall rise of approximately Rs 6,150 over the months.

Gold Price since January till now

Since January 2024, the price of gold in India has witnessed a significant surge. Starting at Rs 63,352, the price has risen to Rs 75,200 by September 27, 2024.

This marks an increase of Rs 11,848 over the nine-month period.

As India progresses through the fiscal year 2024-25, the yellow metal prices continue to remain volatile. As April marked the beginning of the financial year, typically a time when markets settle after the year-end pressures. However, what followed was a steady climb in gold prices, especially post-July when prices reached new highs.