Gold at Rs 1 Lakh: A timeline of trust and value in India
Produced by Tarun Mishra
Produced by Tarun Mishra
Back when gold was valued at just Rs 100– Rs 200 per 10 grams, it was considered a modest but safe savings instrument for Indian families, especially during weddings and festivals.
In the post-Bretton Woods era, gold prices climbed globally. In India, it surged from Rs 184.50 in 1970 to Rs 540 by 1975, driven by currency fluctuations and the oil crisis.
Economic instability and inflation made gold more desirable, pushing prices to Rs 1,330 in 1980 and Rs 2,140 by the mid-'80s — setting the tone for the metal’s long-term bullish trend.
India’s economic reforms didn’t slow down gold’s ascent. Prices jumped from Rs 3,140 in 1989 to Rs 4,300 by the turn of the millennium, as global exposure increased investor appetite.
As gold ETFs launched and financial literacy grew, the yellow metal’s price skyrocketed to Rs 15,000 by 2009. It was no longer just ornamental — it was an investment.
Global recessions, inflation, and political uncertainty saw gold touch Rs 35,154 in 2019. It became a hedge against risk for Indian and global investors alike.
COVID-19, geopolitical tensions, and inflation fears pushed gold to Rs 94,910 by 2025. On April 22, 2025, it finally crossed the Rs 1 lakh mark per 10 grams — a historic high fuelled by global and domestic demand ahead of Akshaya Tritiya.