Historical Gold rate trend in India; from Rs 99 to Rs 60,830

In Indian society, gold has always been in high demand. In Indian culture, gold is valued for prestige as much as for investment.

Since gaining independence, gold prices have increased dramatically. The price of the yellow metal has increased by 60,606.06% in the past 73 years from its modest value of Rs 99 per 10 grams in 1950 to its current price of Rs 60,300 per 10 grams.

By 2023, a 1950 investment of Rs 1,000 in gold will have increased to more than Rs 6 lakh.

Indian investors have traditionally trusted this metal as a significant investment and source of wealth.

Since 1950, it has produced an annual return of 9.18% at a compound annual growth rate (CAGR). According to CAGR, gold has produced a remarkable yearly return of 11.55 percent between 1970 and 2023.

The return on this precious metal has marginally decreased since 1980 and will produce a 9.28% CAGR return until 2023. The return on investment in this has exhibited an average CAGR of 9.28% between 1990 and 2023. On the other hand, from 2000 to 2023, the return on investment in this increased significantly to 12.05% CAGR. The return on investing in the metal has increased steadily since 2010 at a 9.51 CAGR.

A user on X (previously Twitter) produced a graph showing the 73-year history of gold prices together with the Compound Annual Growth Rate (CAGR) returns that the yellow metal generated during this time.

When the economy is experiencing currency devaluation as well as inflation, it has always been a trustworthy form of investment. People also invest in gold with the idea of hard times in mind because it is a durable material that retains its worth.

Read more :- Mumbai: Lord Ganesh idol adorned with 69 kg gold, 336 kg silver