An investment of Rs 1,000 in gold back in 1950 would have grown to more than 6 lakh by the year 2023 (Photo: Shutterstock/Times Now Digital)
Gold has always been in huge demand in the Indian society. Not only investment, gold is also viewed as a symbol of prestige in the Indian society. Since independence, the price of gold have up by enormously. The yellow metal, which was valued at a modest of Rs 99 per 10 grams in 1950, in now priced at Rs 60,300 per 10 grams making a maket gain of 60,606.06 per cent over the past 73 years.
An initial investment of Rs 1,000 in gold back in 1950 would have grown to more than 6 lakh by the year 2023.
Indian investors have always placed their confidence in gold as a major investment and wealth.
In terms of Compound Annual Growth Rate (CAGR), gold has delivered an annual return of 9.18 per cent since 1950. Between 1970 and 2023, gold has achieved an impressive annual return of 11.55 per cent when measured by CAGR.
Since 1980, the return on this precious metal have slowed down slightly and yielded a 9.28 per cent CAGR return up to 2023. Between 1990 and 2023, the return on gold investment has shown an average CAGR of 9.28 per cent. On the other hand, the return on gold investment saw a significant increase to 12.05 per cent CAGR from 2000 to 2023. Since 2010, the return on Gold investment has been a steady growth of 9.51 CAGR.
An user on X (formerly Twitter), posted a chart that traces the 73 year trajectory of gold prices, including the Compound Annual Growth Rate (CAGR) returns earned over this duration by the yellow metal.
Gold has always been a reliable mode of investment protecting your money from inflation and also when the economy is going through currency devaluation. People also invest in gold, keeping in mind tough times as this metal is something which you can hold on to and it keeps its value.