Arthgyaan

Supporting everyone's personal finance journey

A complete history of gold prices in India since the 1950s

This article provides a reference list of gold prices in India every year since 1950.

A complete history of gold prices in India since the 1950s


Posted on 13 Dec 2023
Author: Sayan Sircar
9 mins read
📢Join 2400+ readers on WhatsApp and get new post notifications!

This article provides a reference list of gold prices in India every year since 1950.

A complete history of gold prices in India since the 1950s

Disclaimer: The historical gold prices in this article are collated from multiple sources over the Internet. The prices since 2007 are yearly averages. The latest prices are from IBJA website.

📚 Topics covered:

How have gold prices have moved in India since the 1950s?

Gold price per 10 grams in India since 1950s

Gold has risen 594 times in 73 years with a CAGR of 9.14%

We show the gold price (per 10 grams) in two ways. The blue line is the price using a normal scale on the chart. But the actual price movement is seen in the red line which shows the time it took for the price to double. This CAGR shows that gold, on an average, has doubled in price every 8 years as per rule of 72.

Does gold always go up in value?

Never cross a river that is on average 4 feet deep - Nicholas Taleb.

A very common misconception about gold is that gold always goes up in value. The table below shows the returns for various time periods for gold which shows that gold does not always go up in value. Planning to buy gold, based on average returns, might give nasty surprises as per the quote above.

Invested for Min Average Max
Any 1-year period -35.05% 10.51% 82.01%
Any 2-year period -27.24% 10.11% 58.27%
Any 3-year period -19.10% 10.03% 39.87%
Any 5-year period -9.19% 10.00% 33.03%
Any 8-year period -4.36% 10.03% 26.56%
Any 10-year period -1.99% 10.13% 25.02%
Any 15-year period -2.10% 10.54% 22.67%

An interesting point to note is that the average return is extremely stable although the maximum and minimum values have fluctuated a lot.

Historical Rolling Returns of Gold in India since the 1950s

But as the Taleb quote above shows, you might be surprised once you see the actual returns and the fluctuations around the 10% average.

Did you know that we have a private Facebook group which you can join for free and ask your own questions? Please click the button below to join.

Does gold always beat inflation?

Note: The data in this section has inflation and gold price data from 1960 onwards. Inflation data is from worlddata.info website

Rolling 10-year historical inflation vs gold price in India since the 1960s

Statistic 10-Y rolling inflation 10-Y rolling gold price
Min 4.06% -0.08%
Average 6.82% 10.45%
Max 9.01% 24.45%

As the data shows quite clearly above, gold has mostly beat inflation.

We now show how the price has changed every year since 1950.

Decade-wise gold price

All the tables below show the price of ₹10 grams of gold.

Decade Minimum price Maximum price Average Start 10-Y Change %
1950s 73 102 88 99 NA
1960s 63 176 111 111 12%
1970s 184 937 444 184 66%
1980s 1,330 3,140 2,166 1,330 623%
1990s 3,200 5,160 4,258 3,200 141%
2000s 4,300 15,417 7,775 4,400 38%
2010s 18,448 35,154 28,088 18,448 319%
2020s 47,437 75,000 51,271 47,562 158%

Gold price in the 2020s

Year Gold price
2021 ₹47,437
2022 ₹51,249
2023 ₹58,836
2024 ₹75,000 (highest yet)

Gold price in the 2010s

Year Gold price
2011 ₹24,130
2012 ₹29,926
2013 ₹28,848
2014 ₹27,708
2015 ₹26,671
2016 ₹30,128
2017 ₹29,174
2018 ₹30,692
2019 ₹35,154
2020 ₹47,562

Gold price in the 2000s

Year Gold price
2001 ₹4,300
2002 ₹4,990
2003 ₹5,600
2004 ₹5,850
2005 ₹7,000
2006 ₹8,400
2007 ₹9,428
2008 ₹12,361
2009 ₹15,417
2010 ₹18,448

Gold price in the 1990s

Year Gold price
1991 ₹3,466
1992 ₹4,334
1993 ₹4,140
1994 ₹4,598
1995 ₹4,680
1996 ₹5,160
1997 ₹4,725
1998 ₹4,045
1999 ₹4,234
2000 ₹4,400

Gold price in the 1980s

Year Gold price
1981 ₹1,800
1982 ₹1,645
1983 ₹1,800
1984 ₹1,970
1985 ₹2,130
1986 ₹2,140
1987 ₹2,570
1988 ₹3,130
1989 ₹3,140
1990 ₹3,200

Gold price in the 1970s

Year Gold price
1971 ₹193
1972 ₹202
1973 ₹278
1974 ₹506
1975 ₹540
1976 ₹432
1977 ₹486
1978 ₹685
1979 ₹937
1980 ₹1,330

Gold price in the 1960s

Year Gold price
1961 ₹119
1962 ₹119
1963 ₹97
1964 ₹63
1965 ₹72
1966 ₹84
1967 ₹102
1968 ₹162
1969 ₹176
1970 ₹184

Gold price in the 1950s

Year Gold price
1950 ₹99
1951 ₹98
1952 ₹76
1953 ₹73
1954 ₹77
1955 ₹79
1956 ₹90
1957 ₹90
1958 ₹95
1959 ₹102
1960 ₹111

What's next? You can join the Arthgyaan WhatsApp community

You can stay updated on our latest content and learn about our webinars. Our community is fully private so that no one, other than the admin, can see your name or number. Also, we will not spam you.

To understand how this article can help you:

If you have a comment or question about this article

The following button will open a form with the link of this page populated for context:

If you liked this article, please leave us a rating

The following button will take you to Trustpilot:

Discover an article from the archives

Previous and next articles:

<p>This article provides a reference list of inflation in India every year since 1960.</p>
News
A complete history of inflation in India since the 1960s

This article provides a reference list of inflation in India every year since 1960.

Published: 12 December 2023

7 MIN READ


<p>Sovereign Gold Bond (SGB) 2023-24 (Series III): know all the details about it to decide if you should invest.</p>
Gold
Sovereign Gold Bond (SGB) 2023-24 (Series III) priced at 6199: Who Should Invest?

Sovereign Gold Bond (SGB) 2023-24 (Series III): know all the details about it to decide if you should invest.

Published: 16 December 2023

1 MIN READ


Latest articles:

<p>This article provides a clear guide to navigating the insurance requirements when securing a home loan, helping you make informed decisions.</p>
House Purchase Loans Insurance
Understanding Insurance Requirements for Home Loans in India: What's Mandatory and What's Optional?

This article provides a clear guide to navigating the insurance requirements when securing a home loan, helping you make informed decisions.

Published: 15 May 2024

3 MIN READ


<p>This article discusses the steps for investors in high-income brackets but hesitant to commit to a home loan due to the fear of job instability.</p>
Behaviour House Purchase Loans
How to manage a home loan if you are worried about job loss?

This article discusses the steps for investors in high-income brackets but hesitant to commit to a home loan due to the fear of job instability.

Published: 14 May 2024

8 MIN READ


Topics you will like:

Asset Allocation (21) Basics (8) Behaviour (13) Budgeting (12) Calculator (25) Case Study (6) Children (17) Choosing Investments (40) FAQ (12) FIRE (13) Gold (22) Health Insurance (5) House Purchase (33) Insurance (17) International Investing (12) Life Stages (2) Loans (20) Market Data (8) Market Movements (17) Mutual Funds (47) NPS (8) NRI (19) News (18) Pension (8) Portfolio Construction (53) Portfolio Review (27) Reader Questions (8) Real Estate (7) Research (5) Retirement (38) Review (16) Risk (6) Safe Withdrawal Rate (5) Set Goals (28) Step by step (15) Tax (59)

Next steps:

1. Email me with any questions.

2. Use our goal-based investing template to prepare a financial plan for yourself.

Don't forget to share this article on WhatsApp or Twitter or post this to Facebook.

Discuss this post with us via Facebook or get regular bite-sized updates on Twitter.

More posts...

Disclaimer: Content on this site is for educational purpose only and is not financial advice. Nothing on this site should be construed as an offer or recommendation to buy/sell any financial product or service. Please consult a registered investment advisor before making any investments.

This post titled A complete history of gold prices in India since the 1950s first appeared on 13 Dec 2023 at https://arthgyaan.com


We are currently at 401 posts and growing fast. Search this site:
Copyright © 2021-2024 Arthgyaan.com. All rights reserved.