Gold Historic Prices: Every Indian likes to invest in gold, as it is the safest investment. Gold has given tremendous returns year after year. In the last 2 decades, gold has reached the level of Rs 5000 per tola to Rs 78000 per tola, but do you know that at one time the price of gold was Rs 99 per tola.
This rate was in the time of your great grandfather.
How much has the price of gold increased in 70 years?
After independence in 1947, gold prices in India have increased continuously. Surprisingly, there has been no decrease in it year after year. However, gold prices definitely fell in 1952, 53 and 54. In 1953, gold was Rs 73 per ten grams. Gold has returned more than 750 times in 70 years.
When was gold sold at 99 rupees per tola?
According to the report of Financial Express, in the year 1950, the price of gold per ten grams was Rs 99, which has now increased to Rs 76,000 in 2024. If your great-grandfather had invested Rs 1,000 in gold in 1950, it would have been worth more than Rs 7.5 lakh today.
Gold returned a compound annual growth rate (CAGR) of 9.18% from 1950-2023. Also, the return calculated from 1960 to 2023 was 10.51%. Currently, the price of gold is trading at the level of Rs 77,000. After the corona period, the gold prices increased tremendously. Compared to Rs 48000, its price has reached the level of Rs 78000.
