Gold Price In 1947: In today’s time, the cost of one tola i.e. 10 grams of gold is more than 50,000 thousand rupees. Everyone wants to keep gold with them. Although, it costs a lot of money, but for people belonging to the economically weaker sections, buying an ornament made of gold is like a dream come true. But, do you know there was a time when the price of gold was less than Rs 100? Yes, the rate of gold at the time of independence of the country was less than 600 times as compared to today.
Gold was 600 times cheaper in 1947
According to media reports, on August 15, 1947, the rate of gold was Rs.88.62 per tola. Comparing the price then and now, there is a huge difference. This increase in the price of gold is more than 600 times. Investment in gold is considered the safest all over the world. When there is turmoil in the markets around the world, people rush to invest in gold. After independence, the price of gold kept increasing and after 1964 it never reached the level of 1947.
This is how gold prices increased
In 1948, the price of gold increased to Rs 95.87 per 10 grams. In 1953, the price of gold was Rs 73.06 per 10 grams, in 1959 the price of gold crossed Rs 100 for the first time and the price became Rs 102.56 per 10 grams. In 1964 there was a big fall in the price of gold and it reached Rs 63.25 per 10 grams, in 1967 the price of gold reached Rs 102.5, in 1972 it crossed the level of 200 for the first time and became Rs 202 per 10 grams. For the first time in 1974, it reached the level of Rs 500, in 1980 it touched the figure of 1000 for the first time and became Rs 1330 per 10 grams. In 1985, the price of gold reached the level of Rs 2000 for the first time, in 1996 the price of gold went up to Rs 5160.
In 2007, the gold price was Rs 10,800, in 2010 it was Rs 20,000, in 2011 it reached Rs 26,400, in 2018 the gold price was more than Rs 30,000 and in 2019 the gold price was around Rs 39,000. In the same way, increasing and increasing today it has reached beyond 50 thousand. According to scientists, now less than 30% gold is left in the earth. In such a situation, how much its price will rise in the coming time, it cannot be said now.
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