Gold Rates History in India
Indians are the largest consumers of gold in the entire world, there is no other population in any other country that has a huge demand for gold as like as India. Gold Price History in India gives an clear gold trend about the Historical gold rate trend in India.
Fluctuations in prices affect the purchasing, but as a lot of Indians buy gold as a “safe” investment. Gold is viewed as commodity for those who invest in it, and these investors constantly watch the fluctuations in the market for a potential profit, or the possibility of acquiring the asset at a lower price.
Historical gold rate trend in India
The below Gold rate chart represents the historical gold prices in India. 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.
|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|
|1991||Rs. 3,466.00||2019||Yet to update|
With the exception of a few lows between some years, it clearly seen 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. Whenever you plan to purchase check the Gold rate today in Gemsfly.com
Gold rate trend in India
The gold rate trend in India could offer a deep understanding of future fluctuations in price and investment plans can be made according to it. 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 2019 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
As dollar down, 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.