Gold Price Chart Last 6 Months In India
Introduction
Gold has been a valuable metal for centuries and is often viewed as a safe haven for investors during times of economic uncertainty. In recent times, the price of gold has been volatile due to various factors such as the COVID-19 pandemic and geopolitical tensions. In this article, we will take a look at the gold price chart for the last 6 months in India and how it has performed during this period.
The Gold Price in India
Gold is an important asset in India, where it is not only used for investment purposes but also in cultural and religious ceremonies. The price of gold in India is influenced by various factors such as international prices, exchange rates, and import duties. The gold price in India is quoted in rupees per 10 grams.
The Gold Price Chart for the Last 6 Months
The gold price in India has been on a rollercoaster ride over the last 6 months, with prices reaching record highs in August 2020 before dropping in September and October. The chart below shows the gold price in India from June 2020 to November 2020:
June 2020
In June 2020, the gold price in India was around Rs. 46,000 per 10 grams. The price was relatively stable during this month, with minor fluctuations due to global economic uncertainty.
July 2020
In July 2020, the gold price in India started to rise steadily, reaching around Rs. 50,000 per 10 grams by the end of the month. This was due to a weakened US dollar and increased demand for gold as a safe haven asset.
August 2020
In August 2020, the gold price in India reached a record high of around Rs. 56,000 per 10 grams. This was due to a combination of factors such as the weakening US dollar, geopolitical tensions, and the COVID-19 pandemic.
September 2020
In September 2020, the gold price in India started to decline, with prices dropping to around Rs. 51,000 per 10 grams. This was due to a strengthening US dollar and profit-taking by investors.
October 2020
In October 2020, the gold price in India continued to decline, with prices dropping to around Rs. 48,000 per 10 grams. This was due to a strengthening US dollar and increased risk appetite among investors.
November 2020
In November 2020, the gold price in India started to recover, with prices rising to around Rs. 50,000 per 10 grams. This was due to a weakening US dollar and increased uncertainty surrounding the US presidential election.
Conclusion
The gold price in India has been volatile over the last 6 months due to various factors such as the COVID-19 pandemic and geopolitical tensions. However, gold remains an important asset for investors in India and is often viewed as a safe haven during times of economic uncertainty. The gold price chart for the last 6 months in India shows that prices have fluctuated significantly, with record highs in August 2020 and a decline in September and October. However, prices have started to recover in November 2020.