Sunday, May 17, 2020

History of Gold Price in India in Rupees per bhari since 1964

History of gold price trend in India since 1964. Prices in both bhari* (Indian metric system) and per 10 grams.
This chart contains the average annual price for gold from 1964 in gms
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 2019 Rs.35,220.00

This chart contains the average annual price for gold from 1964 in bhari
Year Price (24 karat per bhari / tola = 11.663 grams) Year Price (24 karat per bhari / tola = 11.663 grams)
1964 Rs.54.25 1992 Rs.3716.00
1965 Rs.61.50 1993 Rs.3550.00
1966 Rs.71.80 1994 Rs.3942.00
1967 Rs.87.90 1995 Rs.4012.00
1968 Rs.138.90 1996 Rs.4424.00
1969 Rs.150.90 1997 Rs.4051.00
1970 Rs.157.75 1998 Rs.3468.00
1971 Rs.165.5 1999 Rs.3630.00
1972 Rs.173.20 2000 Rs.3772.00
1973 Rs.238.80 2001 Rs.3687.00
1974 Rs.434.00 2002 Rs.4278.00
1975 Rs.463.00 2003 Rs.4801.00
1976 Rs.432.00 2004 Rs.5015.00
1977 Rs.417.00 2005 Rs.6002.00
1978 Rs.587.00 2006 Rs.7202.00
1979 Rs.803.00 2007 Rs.9260.00
1980 Rs.1140.00 2008 Rs.10717.00
1981 Rs.1543.00 2009 Rs.12432.00
1982 Rs.1410.00 2010 Rs.15862.00
1983 Rs.1543.00 2011 Rs.22635.00
1984 Rs.1689.00 2012 Rs.26622.00
1985 Rs.1826.00 2013 Rs.25380.00
1986 Rs.1835.00 2014 Rs.24012.00
1987 Rs.2203.00 2015 Rs.22587.00
1988 Rs.2683.00 2016 Rs.24541.00
1989 Rs.2692.00 2017 Rs.25436.00
1990 Rs.2744.00 2018 Rs.26955.00
1991 Rs.2972.00 2019 Rs.30198.00
*bhari is an ancient Indian metric system still in use by many old people which is slightly higher than 10 grams as confused by younger population. 

1 bhari gold  = 11.663 grams gold

#Tola is also equivalent to bhari.

Since 1964 Gold has appreciated by 12.18% CAGR till 2019. This is significant considering 55 years of appreciation and more than 25000 tonnes of physical gold in possession by citizens of India.

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