Gold rate year wise in India: what 10 grams cost since 1964

The short answer

Ten grams of gold cost about ₹63 in 1964. The RBI's annual average was ₹1,858 in 1983-84, ₹6,145 in 2004-05, ₹27,415 in 2014-15 and ₹75,842 in 2024-25. Augmont's 24K rate, the one you buy at on Ticgetz, averaged ₹1,22,584 in 2025-26 and ₹1,53,578 from April to October 2026. On 2 November 2026 it was ₹1,43,281 for 10 grams, before GST.

Gold rate year wise, 1983-84 to 2024-25

These are the Reserve Bank of India's figures from its Handbook of Statistics on the Indian Economy (Table 38, released 29 August 2025). The Mumbai column is what gold cost in India's main bullion market. The London column is the world price in dollars (from the LBMA since 2000-01). The RBI notes that its figures before and after 2000-01 come from different sources, so they may not be strictly comparable.

Gold rate in the 1960s and 1970s

The RBI's annual table starts in 1983-84. For the years before it, the figures below are calendar-year averages for 24K gold compiled by Aditya Birla Capital from public market data. They are not an official series, and in these years Indians could not freely import gold: gold control began under the Defence of India Rules on 9 January 1963 and became the Gold (Control) Act in 1968.

Two things happened in these years that still shape the price. On 15 August 1971 the United States stopped exchanging dollars for gold at a fixed rate, and gold began to trade at whatever the market would pay. In India the compiled price went from ₹193 in 1971 to ₹506 in 1974, and past ₹1,000 for the first time in 1980.

What about 1947?

A figure of about ₹88 for 10 grams in 1947 is repeated widely, usually credited to India Post's gold coin service. We could not find it in any official series, so we don't print a number for that year. Before India moved to metric weights, gold was quoted per tola, about 11.66 grams, so an old price has to be converted before it can be compared with these tables.

The rupee did more of the climbing than the metal

Between 1983-84 and 2024-25, Mumbai gold rose about 41 times, from ₹1,858 to ₹75,842. The world price in dollars rose only about 6.4 times, from US$404 to US$2,585 an ounce. The rest came from the rupee: the RBI's own conversion of the London price implies about ₹10.33 to the dollar in 1983-84 and ₹84.62 in 2024-25, about 8.2 times as many rupees for each dollar.

So when a headline says gold hit a record in India, part of the story is usually the rupee. The same lens explains 1991-92. That year the London price fell, from US$375 to US$357, yet Mumbai gold rose about 25%, because the rupee went from about ₹18 to about ₹25 to the dollar. In July 1991, during the balance of payments crisis, the RBI pledged about 47 tonnes of gold with the Bank of England and the Bank of Japan for a US$405 million loan, repaid by November that year. How the price is made walks through the conversion step by step.

What India adds on top of the world price

RBI's table also shows how far Mumbai gold sits above the London price converted into rupees. That gap is duty, cess, transport and dealer margins, and for decades it was policy more than anything else:

From 1984-85 to 1991-92, gold in Mumbai cost between 47% and 65% more than the world price. After the Gold (Control) Act was repealed in 1990 and import rules eased, the gap closed, and it stayed under 2% in every year from 2005-06 to 2011-12. Duty rises from 2012 pushed it back above 10%. The duty was raised again from 13 May 2026, to about 15%, the level of 2023-24.

Gold price in the last 10 years

From 2014-15 to 2024-25, the RBI's Mumbai average went from ₹27,415 to ₹75,842, about 2.8 times. In dollars the rise was about 2.1 times, and the rupee went from about ₹61 to about ₹85 to the dollar. The decade did not start well: the average fell three years running, from ₹30,164 in 2012-13 to ₹26,534 in 2015-16, and did not get back above the 2012-13 level until 2018-19.

Since April 2025: our own rate records

The RBI's table ends at 2024-25. For the months since, the figures below come from Augmont's 24K 999 buy rate, the rate you pay on Ticgetz before GST, which we record every day and average here from weekly readings. In the years both series cover, Augmont's average runs about 3% above the RBI's Mumbai figure, because a buy rate includes the dealer's spread, so compare the two with that in mind.

Gold has fallen for years at a time

Over the 41 years in the RBI series, the yearly average fell in 8 of them: 1992-93, 1997-98, 1998-99, 2013-14, 2014-15, 2015-16, 2017-18 and 2021-22. Twice it took six years to climb back: from ₹5,071 in 1996-97 until 2002-03, and from ₹30,164 in 2012-13 until 2018-19. Anyone who bought at either peak waited a long time.

Today's rate is always on the Buy screen, from ₹10.