Gold crossed 60 thousand! ‘Wings’ started after independence, till 1947 Delhi-Mumbai air ticket used to carry 1 kg gold
As soon as the market of independent India opened, people rushed to buy shining gold.
In 1947, the price of 10 grams of gold almost doubled to Rs.88.62.
In the year 1942, gold was 44 rupees for 10 grams, it doubled in 5 years.
New Delhi. Who doesn’t love the glitter of gold. This choice of people has increased the shine of gold. But now this brightness has started turning into glare, which is not being seen by the people. Inflation worked as a honeymoon for gold and gold also became as expensive as Kundan. This week the gold rate has crossed Rs 60,000 per 10 grams. Not much, till the independence of India, the price of gold was so much that you will not believe it. In just 75 years, the price of gold has increased several hundred times.
If you look at the Gold Rate Exchange, after independence, it is as if gold has got wings. As soon as the market of independent India opened, people rushed to buy shining gold. The government also started buying gold to strengthen the economy, due to which its price started increasing rapidly. India today is among the largest gold importing countries in the world.
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Price increased 1300 times in 80 years
5 years before the independence of India, when the revolutionaries blew the last bugle in the form of Quit India movement, the price of gold was just Rs.44 per 10 grams. This means that in the year 1942, gold was priced at Rs 44 for 10 grams. After 5 years i.e. when the country became independent, in 1947, the price of 10 grams of gold almost doubled to Rs.88.62. According to this, at the time of independence, 1 kg of gold would have come in the expenses of traveling by Delhi-Mumbai flight today. Currently, the Delhi-Mumbai economy fare from Air India is Rs 4,426. That is, the return ticket will cost around Rs 8,852. At that time the price of 10 grams of gold was Rs.88.62 and the price of 100 grams was Rs.886.2. According to this, 1 kg of gold would have been available for just Rs 8,862.
people broken after liberalization
It is not that gold has become very expensive since independence. By the year 1970, the price of 10 grams of gold increased to just Rs 184. Yes, in the next 10 years till 1980 it reached Rs 1,330 and in the next 10 years till 1990 it reached Rs 3,200. From the year 2000 to 2010, the price of gold remained between Rs 4,400 to Rs 18,500 per 10. If we look at the latest rates, on March 20, 2023, the price of gold on MCX has crossed even Rs 60,000 per 10 grams.
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FIRST PUBLISHED : March 21, 2023, 16:47 IST