Gold Price vs salary 1947 to 2025

Gold Price Growth in India: A Historical Overview from 1947 to 2024

Here is the table showing gold prices (in INR per 10 grams) and the year-on-year growth percentage from 1947 to 2024:

Year	Price (INR per 10 grams)	Growth (%)
1947	88.62	-
1950	96.50	8.89%
1960	112.75	16.84%
1970	184.00	63.19%
1980	1330.00	622.83%
1990	3200.00	140.60%
1999	4220.00	31.88%
2000	4400.00	4.27%
2001	4300.00	-2.27%
2002	4990.00	16.05%
2003	5600.00	12.22%
2004	6307.00	12.63%
2005	7638.00	21.10%
2006	9265.00	21.30%
2007	10598.00	14.39%
2008	13630.00	28.61%
2009	16686.00	22.42%
2010	20728.00	24.22%
2011	27329.00	31.85%
2012	30859.00	12.92%
2013	28422.00	-7.90%
2014	26703.00	-6.05%
2015	24931.00	-6.64%
2016	27445.00	10.08%
2017	29156.00	6.23%
2018	31391.00	7.67%
2019	39108.00	24.58%
2020	50151.00	28.24%
2021	48099.00	-4.09%
2022	55017.00	14.38%
2023	63203.00	14.88%
2024	73780.00	16.73%

Minimum Wages in Delhi (Monthly, INR) from 1947 to 2030

Year	Minimum Wage (INR)	Growth (%)
1947	55	-
1950	60	9.09%
1960	75	25.00%
1970	120	60.00%
1980	350	191.67%
1990	1,200	242.86%
1999	2,000	66.67%
2000	2,500	25.00%
2001	2,800	12.00%
2002	3,000	7.14%
2003	3,500	16.67%
2004	4,000	14.29%
2005	4,500	12.50%
2006	5,000	11.11%
2007	5,500	10.00%
2008	6,000	9.09%
2009	6,500	8.33%
2010	7,000	7.69%
2011	7,500	7.14%
2012	8,000	6.67%
2013	8,500	6.25%
2014	9,000	5.88%
2015	9,500	5.56%
2016	10,000	5.26%
2017	10,500	5.00%
2018	11,000	4.76%
2019	11,500	4.55%
2020	12,000	4.35%
2021	12,500	4.17%
2022	13,000	4.00%
2023	13,500	3.85%
2024	14,000	3.70%
2025	14,500	3.57%
2026	15,000	3.45%
2027	15,500	3.33%
2028	16,000	3.23%
2029	16,500	3.13%
2030	17,000	3.03%

Introduction

Gold is very important in India. It is more than just a valuable metal; it represents wealth and security. For many generations, gold has been a part of Indian traditions. People give gold as gifts during weddings, festivals, and religious ceremonies.

Besides its cultural value, many people see gold as a safe investment. It helps protect against inflation and economic problems.

In this article, we will look at how the price of gold has increased every year from 1947 to 2024 in India. We will explore how both local and global events have affected gold prices. Understanding these trends will show us how changes in the economy and other factors have influenced the gold market in India.

The Historical Context of Gold Prices

Gold prices in India have changed a lot over the years. When India gained independence in 1947, the price of gold was relatively low. At that time, it was only ₹88.62 for 10 grams. However, as the economy grew and inflation increased, the demand for gold rose. This led to significant price jumps.

For example, by 1980, the price of gold had reached ₹1,330.00. This was a huge increase of over 600%. Many factors influenced this rise, including economic instability and high inflation.

Economic Events Impacting Gold Prices

Economic events play a big role in setting gold prices. The 1991 economic crisis in India led to a surge in gold prices. People turned to gold as a safe option during this tough time. In 1990, the price was ₹3,200.00, showing a significant increase in demand.

The global financial crisis of 2008

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