The price of 10 gm of 24 carat gold on March 17, 2025 hit Rs 89,830! Investors and speculators are wondering at what price will it stabilise and thereafter show only incremental growth. Let's look back at the upward journey gold prices have made over 10 years.
In 2015, the price of 10 gm was Rs 26,343.50. That year the price of gold fell by Rs 1,663. Therefore, if you had purchased gold in 2014, when it was Rs 28,006.50 for 10 gm, you would have suffered a loss in 2015.
In 2016, the price of 10 gm of gold ended at Rs 28,623.50. Through that one year, you would have made a profit of Rs 2,280 on 10 gm of gold. The year 2016 also witnessed demonetisation of the Indian rupee.
In 2017, the price of 10 gm of gold rose to Rs 29,667.50, as compared to the 2016 price of Rs 28,623.50. The profit on 10 gm was not huge, but yes, you could have made a profit of a thrifty Rs 1,044 had you invested in 10 gm gold in 2016.
The year 2018 saw a slight jump in the price of gold as it closed at Rs 31,438 for 10 gm. The profit would have been Rs 1,776.50 on your investment of 10 gm gold, had you invested the year before, ie in 2017.
From 2019, the plot of The Gold Story started changing drastically. The geo-political tension between China and America affected trade and the gold situation was affected too. Add to that the fact that global interest rates started falling thus seeing people rushing to buy gold. That year the price of 10 gm of gold closed at Rs 35,220.
COVID-19 hit the world economy massively in 2020. Lockdown was the order of the day across the globe. No one knew the future. Stock markets crashed, so did the property market. The only good investment people could make was in gold. Therefore in 2020, 10 gm of gold touched Rs 48,651. This was one of the biggest rises seen with respect to gold prices.
That year gold prices stabilised, even as COVID-19 uncertainty continued and countries moved in and out of lockdown. Gold stayed at Rs 48,720 per 10 gm.
The Russia-Ukraine war began in 2022 and sanctions on Russia by Western countries followed. Once again, the world experienced an uncertainty and the only thing shining in those gloomy times was the cherished yellow metal. Gold prices once again zoomed to Rs 52,670 per 10 gm.
The year 2023 dawned with the ongoing Russia-Ukraine war and then later that year Hamas started a war on Israel in October. The geo-political changes, and Israel's vow to finish Hamas, and its invasion of Gaza had a direct impact on gold which was considered as a safe investment haven for many and the price shot up to Rs 58,385 for 10 gm in 2023.
China invested heavily into gold at the start of 2024, realising that geo-political tensions had not calmed down any. In India too festive buying and speculators jumping in to buy gold made it hit an all-time high. In 2024 BRICS (Brazil, Russia, India, China and South Africa) spoke about de-dollarisation to end the dominance of US dollar in the global market. And the price of 10 gm of gold settled at Rs 76,160.
The gold price rise continued in 2025. On March 17, 2025, last seen, the price had soared to Rs 89,083.3 per 10 gm. Had you invested 10 gm of gold in 2015 and kept it in your bank locker, you would have made a profit of Rs 63,486.50, which equals Rs 5,290.50 per month on your 10 gm of gold. Did you?
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