The historical gold rate trend in India has been influenced by a variety of factors, including global economic conditions, inflation, currency fluctuations, demand-supply dynamics, and geopolitical events.
1. Early 2000s (2000-2010):
- Price Range: Around ₹4,000 to ₹20,000 per 10 grams.
- Gold prices remained relatively stable during the early 2000s. However, towards the late 2000s, the global financial crisis (2007–2008) triggered a sharp rise in gold prices as investors sought safe-haven assets.
- The price crossed ₹20,000 per 10 grams in 2009–2010, marking a period of steady growth.
2. 2010-2015 (Gold Bull Run):
- Price Range: ₹20,000 to ₹30,000 per 10 grams.
- This period witnessed a rapid rise in gold prices, mainly driven by the aftermath of the 2008 financial crisis. As the global economy struggled to recover, gold became an attractive investment option. The Indian Rupee (INR) also depreciated against the US Dollar, further boosting gold prices in India.
- By 2012, gold prices reached their peak of ₹30,000 to ₹32,000 per 10 grams.
3. 2015-2018 (Correction and Stabilization):
- Price Range: ₹25,000 to ₹32,000 per 10 grams.
- After reaching its peak in 2012, the price of gold began to correct and stabilize. Several factors contributed to this, including a stronger US Dollar and rising global stock markets.
- During this time, the Indian government introduced measures like the Gold Monetization Scheme and Gold Bond Schemes to reduce physical gold holdings in the country and promote financial savings in gold.
4. 2018-2020 (Resurgence in Gold Prices):
- Price Range: ₹30,000 to ₹50,000 per 10 grams.
- Starting from 2018, global uncertainties, including the US-China trade war, economic slowdown fears, and the outbreak of the COVID-19 pandemic in early 2020, led to an increase in demand for safe-haven assets like gold.
- By mid-2020, amid the pandemic, gold prices surged to record highs, crossing ₹50,000 per 10 grams for the first time.
5. 2020-Present (Continued Volatility and High Prices):
- Price Range: ₹45,000 to ₹60,000 per 10 grams.
- Gold prices remained elevated through 2020 and into 2021 due to the ongoing effects of the COVID-19 pandemic, low-interest rates, and global economic recovery concerns. The rise in inflation expectations, central bank policies, and geopolitical tensions (including the Russia-Ukraine war) also kept demand for gold high.
- Prices have seen fluctuations within the range of ₹45,000 to ₹60,000 per 10 grams, with occasional spikes due to market volatility.
| Year | Price (24 karat per 10 grams) |
| 1964 | Rs.63.25 |
| 1965 | Rs.71.75 |
| 1966 | Rs.83.75 |
| 1967 | Rs.102.50 |
| 1968 | Rs.162.00 |
| 1969 | Rs.176.00 |
| 1970 | Rs.184.00 |
| 1971 | Rs.193.00 |
| 1972 | Rs.202.00 |
| 1973 | Rs.278.50 |
| 1974 | Rs.506.00 |
| 1975 | Rs.540.00 |
| 1976 | Rs.432.00 |
| 1977 | Rs.486.00 |
| 1978 | Rs.685.00 |
| 1979 | Rs.937.00 |
| 1980 | Rs.1,330.00 |
| 1981 | Rs.1670.00 |
| 1982 | Rs.1,645.00 |
| 1983 | Rs.1,800.00 |
| 1984 | Rs.1,970.00 |
| 1985 | Rs.2,130.00 |
| 1986 | Rs.2,140.00 |
| 1987 | Rs.2,570.00 |
| 1988 | Rs.3,130.00 |
| 1989 | Rs.3,140.00 |
| 1990 | Rs.3,200.00 |
| 1991 | Rs.3,466.00 |
| 1992 | Rs.4,334.00 |
| 1993 | Rs.4,140.00 |
| 1994 | Rs.4,598.00 |
| 1995 | Rs.4,680.00 |
| 1996 | Rs.5,160.00 |
| 1997 | Rs.4,725.00 |
| 1998 | Rs.4,045.00 |
| 1999 | Rs.4,234.00 |
| 2000 | Rs.4,400.00 |
| 2001 | Rs.4,300.00 |
| 2002 | Rs.4,990.00 |
| 2003 | Rs.5,600.00 |
| 2004 | Rs.5,850.00 |
| 2005 | Rs.7,000.00 |
| 2007 | Rs.10,800.00 |
| 2008 | Rs.12,500.00 |
| 2009 | Rs.14,500.00 |
| 2010 | Rs.18,500.00 |
| 2011 | Rs.26,400.00 |
| 2012 | Rs.31,050.00 |
| 2013 | Rs.29,600.00 |
| 2014 | Rs.28,006.50 |
| 2015 | Rs.26,343.50 |
| 2016 | Rs.28,623.50 |
| 2017 | Rs.29,667.50 |
| 2018 | Rs.31,438.00 |
| 2019 | Rs.35,220.00 |
| 2020 | Rs.48,651.00 |
| 2021 | Rs.48,720.00 |
| 2022 | Rs.52,670.00 |
| 2023 | Rs.65,330.00 |
| 2024 (Till Today) | Rs.71,510.00 |
