Gold prices surge 60% year-on-year to Rs 1.57 lakh per 10g in Mumbai
Gold was trading at Rs 1.57 lakh per 10 grams in Mumbai's spot market on Monday, inclusive of 3% GST. This marks a roughly 60% increase compared to the Rs 98,000 per 10 grams recorded on Ganesh Chaturthi last year on August 28. The sharp rise in prices has weighed on consumer demand, with overall sales declining by approximately 15%. However, gold coins have seen relative gains in popularity amid the price surge.
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