Gold Price Soars 173,500% in 79 Years
India's gold market is celebrating Independence Day with some impressive numbers. The price of gold has risen from Rs.89 per 10 gm in 1947 to a staggering Rs.1,54,500 per 10 gm today.
This represents a mind-boggling 1,73,500% increase over the past 79 years, according to market experts. Avinash Gorakshkar notes that the importance of gold investment in India was realized after the 2008 global economic slowdown, when people came to understand that gold is an investor's haven during times of uncertainty.
Long-term investors have received a whopping percentage return due to the steep rally in precious bullion over the last decade. The COVID-19 pandemic, Trump's tariffs, and geopolitical tensions have all contributed to the demand for gold as an investor's haven.
Anuj Gupta, a SEBI-registered market expert, advises long-term investors to consider buying gold at any price without worrying about its outlook, as it will deliver 9%-10% per annum over the long term. He suggests considering options other than physical gold, such as gold ETFs and gold bonds, which offer additional benefits like security.