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Date : Sep 13, 2024
Table 38 : Average Price of Gold and Silver in Domestic and Foreign Markets
Year Gold Silver
Mumbai London Spread in ₹ (2-4) Mumbai New York Spread in ₹ (6-8)
₹ per 10 gms. $ per troy oz. ₹ per 10 gms. ₹ per kg. Cents per troy oz. ₹ per kg.
1 2 3 4 5 6 7 8 9
1983-84 1858.47 404.15 1342.06 516.41 3505.80 1060.64 3516.66 -10.86
1984-85 1983.92 340.01 1293.78 690.13 3593.59 740.98 2810.19 783.40
1985-86 2125.47 327.75 1289.76 835.71 3918.38 609.00 2396.35 1522.03
1986-87 2323.49 383.33 1577.02 746.46 4247.10 539.87 2220.03 2027.07
1987-88 3082.43 458.84 1912.54 1169.89 5538.83 721.49 3016.70 2522.13
1988-89 3175.22 422.01 1960.38 1214.84 6366.76 639.65 2971.52 3395.24
1989-90 3229.33 384.79 2063.01 1166.32 6841.91 531.61 2846.31 3995.60
1990-91 3451.52 374.65 2164.26 1287.26 6760.79 449.86 2579.21 4181.58
1991-92 4297.63 357.40 2841.07 1456.55 7332.41 409.34 3269.89 4062.52
1992-93 4103.66 338.35 3332.95 770.71 7078.39 381.97 3749.87 3328.52
1993-94 4531.87 373.42 3766.28 765.58 6348.12 470.54 4741.09 1607.03
1994-95 4667.24 382.79 3864.15 803.09 6692.31 513.85 5187.33 1504.98
1995-96 4957.60 389.36 4188.58 769.03 7220.50 540.05 5809.36 1411.14
1996-97 5070.71 375.52 4285.60 786.77 7165.07 505.33 5762.65 1402.42
1997-98 4347.07 316.94 3775.92 571.14 7352.27 520.00 6153.96 1198.32
1998-99 4268.17 292.32 3952.25 316.08 7855.33 529.79 7143.92 711.42
1999-00 4393.56 279.65 3896.66 496.90 8066.94 522.68 7286.51 780.43
2000-01 4473.60 272.12 4007.79 465.54 7868.39 483.59 7110.18 758.21
2001-02 4579.12 277.74 4260.23 318.89 7447.19 437.34 6708.71 738.49
2002-03 5332.36 325.49 5062.11 270.25 7990.53 467.23 7268.46 722.07
2003-04 5718.95 377.65 5573.53 145.41 8721.90 541.55 7982.49 739.40
2004-05 6145.38 413.95 5976.14 169.24 10680.82 676.17 9766.58 914.24
2005-06 6900.56 476.58 6790.26 110.31 11828.81 801.17 11417.37 411.45
2006-07 9240.32 628.41 9137.79 102.53 19056.57 1247.74 18133.96 922.62
2007-08 9995.62 765.78 9897.12 98.50 19427.45 1448.96 18738.23 689.22
2008-09 12889.74 867.19 12816.81 72.94 21247.57 1374.98 20059.44 1188.13
2009-10 15756.09 1023.03 15569.88 186.22 25320.69 1576.30 23980.04 1340.65
2010-11 19227.08 1293.53 18937.48 289.60 37289.54 2391.16 35050.93 2238.61
2011-12 25722.42 1644.87 25394.03 328.39 57315.87 3545.64 54320.69 2995.18
2012-13 30163.93 1653.51 28919.04 1244.89 57602.30 3050.71 53329.11 4273.19
2013-14 29190.39 1326.68 25739.35 3451.04 46636.80 2145.41 41643.21 4993.59
2014-15 27414.55 1247.40 24520.42 2894.13 40558.48 1814.04 35611.18 4947.30
2015-16 26534.26 1147.43 24231.53 2302.73 36318.10 1526.03 32091.84 4226.26
2016-17 29665.28 1258.03 27116.42 2548.87 42748.31 1779.08 38360.04 4388.27
2017-18 29300.08 1285.28 26618.55 2681.52 39072.18 1687.16 34961.97 4110.22
2018-19 31193.41 1263.16 28380.36 2813.05 38404.23 1538.55 34540.20 3864.04
2019-20 37017.91 1462.15 33346.53 3670.54 42514.30 1652.78 37687.89 4826.41
2020-21 48723.22 1824.08 43541.00 5182.22 59283.26 2289.46 54499.06 4784.21
2021-22 47999.25 1818.43 43582.25 4417.00 65425.65 2457.40 58847.68 6577.97
2022-23 52730.77 1804.82 46605.74 6125.03 61990.56 2142.75 55347.95 6642.61
2023-24 60623.95 1989.00 52684.42 7939.53 72242.82 2360.38 62821.01 9421.81
Note: Data provided in this Table for the period 1983-84 to 1999-2000 and 2000-01 to 2023-24 may not be strictly comparable due to different sources of information.
Source: The data source for this Table for the period till 1999-2000 is Bombay Bullion Association and Press Trust of India. For the period 2000-01 onwards, the data sources are (i) Business Standard/ Business Line and Economic Times, Mumbai/IBJA Website for gold and silver price in Mumbai and LBMA for gold price in London and (ii) Thomson Reuters for silver price in New York.

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