Gold prices skyrocket to ₹70,500 in Ahmedabad’s market amid global surge

Updated: Mar 30th, 2024

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The impact of the international market reached the gold market in Ahmedabad, with gold prices breaching a new bar of ₹70,500, rising ₹1,000 in a day.

The surge in gold prices in Ahmedabad can be directly attributed to the notable uptick in global gold prices, which rose by $35 on Mar 29, reaching a high of $2,229.87. Silver prices also rose by $24.96. 

Despite the movement in the market during the Good Friday holiday, the commodity market jumped to record-high prices in Ahmedabad.

Even Mumbai's bullion market soared, with ₹68,250 in gold and ₹74,550 in silver.

Gold price movement in the last five years

Table

Annual Rate Table

Year Average annual rate (₹)
2020 48,651
2021 49,720
2022 52,670
2023 65,330
2024 70,500

The rise in gold prices is attributed to reports of central banks around the world increasing their gold reserves and geopolitical uncertainty.

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