Gold Rates Historical Data for India

Indians are among the world’s leading consumers of gold, with the precious metal constituting a significant portion of our total imports. Indians tend to buy gold since it is considered a ‘safe’ investment. Investors study the markets for fluctuations in prices, which dictate demand.

Historical gold rate trend in India

The below chart represents the historical movement of gold prices in India:

This chart contains the average annual price for gold from 1964 – present.
Year Price (24 karat per 10 grams) Year Price (24 karat per 10 grams)
1964 Rs. 63.25 1992 Rs. 4,334.00
1965 Rs. 71.75 1993 Rs. 4,140.00
1966 Rs. 83.75 1994 Rs. 4,598.00
1967 Rs. 102.50 1995 Rs. 4,680.00
1968 Rs. 162.00 1996 Rs. 5,160.00
1969 Rs. 176.00 1997 Rs. 4,725.00
1970 Rs. 184.00 1998 Rs. 4,045.00
1971 Rs. 193.00 1999 Rs. 4,234.00
1972 Rs. 202.00 2000 Rs. 4,400.00
1973 Rs. 278.50 2001 Rs. 4,300.00
1974 Rs. 506.00 2002 Rs. 4,990.00
1975 Rs. 540.00 2003 Rs. 5,600.00
1976 Rs. 432.00 2004 Rs. 5,850.00
1977 Rs. 486.00 2005 Rs. 7,000.00
1978 Rs. 685.00 2006 Rs. 8,400.00
1979 Rs. 937.00 2007 Rs. 10,800.00
1980 Rs. 1,330.00 2008 Rs. 12,500.00
1981 Rs. 1,800.00 2009 Rs. 14,500.00
1982 Rs. 1,645.00 2010 Rs. 18,500.00
1983 Rs. 1,800.00 2011 Rs. 26,400.00
1984 Rs. 1,970.00 2012 Rs. 31,050.00
1985 Rs. 2,130.00 2013 Rs. 29,600.00
1986 Rs. 2,140.00 2014 Rs.28,006.50
1987 Rs. 2,570.00 2015 Rs.26,343.50
1988 Rs. 3,130.00 2016 Rs.28,623.50
1989 Rs. 3,140.00 2017 Rs.29,667.50
1990 Rs. 3,200.00 2018 Rs.31,438.00
1991 Rs. 3,466.00    

*It’s important to note that the gold prices would fluctuate during the year and the amount mentioned below is a representation of the average price for that year.

With the exception of a few lows between some years, the table indicates that the gold price trend has historically been on the rise, lending credit to the argument that gold is a safe investment over long periods of time.

Studying the gold rate trend in India

Studying the gold rate trend in India could offer an insight into future fluctuations and investment plans can be made accordingly. The gold rate depends on a number of factors like the stability of the central bank, the supply and demand of gold in the market, quantitative easing, government reserves, the health of the jewellery industry and overall yearly production to name a few.

Gold prices in 2018 saw some significant fluctuations due to ongoing geopolitical tensions in the United States, which impacted the U.S. dollar rate and influenced global bullion demand. Local demand for the yellow metal was influenced by the fluctuating rupee rate, which continued to play second fiddle to the dollar. The ongoing Brexit crisis caused fluctuations across the Eurozone, which led to a surge in bullion demand towards the end of the year. The U.S government shutdown also served to pressure the U.S. dollar, though gold rates did not see much impact at the time. 

Also check Today's Gold Rate in the most popular Indian cities

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News About Gold Rates

  • As dollar plunges, gold hits two week high

    Price of gold jewellery in Dubai traded higher on Monday due to the fall in the value of the US dollar after the recent adjustment in the rate by US Federal Reserve. The bullion traded by as much as Dh10 per gram as compared to the prices at the beginning of the year with 24k gold trading at Dh 149.50 per gram.

    Spot gold increased to its highest in a span of 2 weeks at $1,234.60 prior to settling at $1,233.60. Certain analysts believe that gold will continue to be supported with spot gold price ranging between $1,220 and $1,240 per ounce.

    20 March, 2017

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