Explore pivotal moments in India's gold price history by pinpointing key years and trends. Sharpen your knowledge of how gold kept pace with inflation, tech gadgets, and investment innovations.
When could 10 grams of gold be purchased for less than ₹1,000 in India?
Explanation: In 1970, gold prices were low enough that 10 grams cost under ₹1,000 in India. By 1985, inflation and policy changes had driven the price higher. In the 1990s and 2000s, gold had become far more expensive, making the other options incorrect.
In which decade did gold prices rise nearly 10× in India, reflecting both global and local factors?
Explanation: The 1970s saw a dramatic increase in gold prices, nearly tenfold, due to global instability and inflation. Gold growth in the 1960s was modest, while the 1990s and 2000s had steady but not explosive rises.
When did gold first cross ₹10,000 per 10 grams in India, marking a new peak?
Explanation: Gold surpassed the ₹10,000 per 10 grams milestone in 2006. The price was still below this level in 1999. While 2010 and 2013 saw even higher prices, the first crossing happened in 2006.
In which year was gold cheaper than an average flagship smartphone costing about ₹50,000 in India?
Explanation: In 2010, the price of 10 grams of gold was lower than the typical ₹50,000 price of a flagship smartphone. By 2015 and later years, gold prices had risen substantially, making those options incorrect.
During which year did gold prices in India cross ₹50,000 for 10 grams due to global pandemic fears?
Explanation: In 2020, gold prices soared past ₹50,000 per 10 grams largely due to economic uncertainty from the pandemic. While gold prices increased in other years listed, they did not reach this benchmark until 2020.
Around what year did gold become available as a digital investment option via ETFs in India?
Explanation: Exchange-traded funds (ETFs) offering digital gold investment launched in India around 2007. This option was not available as early as 2003, and 2012 and 2015 refer to later periods after digital gold investments were already introduced.