Gold Returns have been wayward over the last 40 years, and I present to you, as the Chart of the Day/Week, Gold Price History in India since 1971. (Source: RBI)
And rolling returns on Gold Investments.
You’ll see that Gold, if it’s a cycle, is on the upper end of it. 1 year returns are now over 30% (this is really good for my childrens’ education fund, thank you) and even teh 10 year rolling return is close to the highs of the early 80s.
Note that before 1970, the gold price was pegged to the dollar, so the Indian rupee variant was simply a function of the dollar-rupee exchange rate.
Earlier, gold imports were controlled so till 2000 or so, the Mumbai price was 20-30% higher than international prices appropriately converted.
(Inspiration for this post: The rodinhoods post)
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It will be good to chart major Internationale monetary periods which had impact on gold along with it. (selling and buying gold by central banks, moving away from gold standard etc)
02.05.12 at 11:49 PM
Hi Deepak,
Do you know how much of these returns are due to Rupee depreciation? Thanks.
02.07.12 at 5:46 AM
Will check…i have a long term inr usd chart someplace
02.07.12 at 10:47 AM