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Gold β the only yellow metal found on earth is considered an auspicious item in every household. The ever-increasing value of gold makes it a safe haven i.e. an investment that retains or increases the value during times of crisis. Just like gold, gold rate has also been an area of concern.
The gold rate has always been a topic of discussion in the market. It is directly proportional to inflation, currency, etc. Even though gold is considered as an ever growing asset, you can also expect to see some downfall in the same.
The base price of gold is determined by United States in *Ounce. The given rate is converted to respective weights and currencies across the globe.
Yes, the gold rate does vary from one state to the other. Every state has their own rules and regulations according to which they levy taxes, hence the difference.
Did you know that the gold rate has increased by almost 800% in the past two decades.
| Year | Rate |
|---|---|
| 2000 | βΉΒ 4,400 |
| 2001 | βΉΒ 4,300 |
| 2002 | βΉΒ 4,990 |
| 2003 | βΉΒ 5,600 |
| 2004 | βΉΒ 5,850 |
| 2005 | βΉΒ 7,000 |
| 2006 | βΉΒ 8,400 |
| 2007 | βΉΒ 10,800 |
| 2008 | βΉΒ 12,500 |
| 2009 | βΉΒ 14,500 |
| 2010 | βΉΒ 18,500 |
| 2011 | βΉΒ 26,400 |
| 2012 | βΉΒ 31,050 |
| 2013 | βΉΒ 29,610 |
| 2014 | βΉΒ 28,006 |
| 2015 | βΉΒ 26,343 |
| 2016 | βΉΒ 28,623 |
| 2017 | βΉΒ 29,667 |
| 2018 | βΉΒ 31,438 |
| 2019 | βΉΒ 35,220 |
| 2020 | βΉΒ 48,651 |
| 2021 | βΉΒ 48,720 |
| 2022 | βΉΒ 52,960 |
| 2023 |
*Gold Rate data sourced from Bank Bazaar.
Disclaimer: All information in this page has been sourced from the internet. Kesav Diamond is not responsible for any discrepancy.
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