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Date : 15 Sep 2010
Table 41 : Average Price of Gold and Silver in Domestic and Foreign Markets

Year

Gold

Silver

Mumbai

London

Spread in
Rupees
(2-4)

Mumbai

NewYork

Spread in
Rupees
(6-8)

Rupees per 10 gms.

$ per troy oz.

Rupees per 10 gms.

Rupees per kg.

Cents per troy oz.

Rupees per kg.

1

2

3

4

5

6

7

8

9

1970-71

184.96

36.81

89.44

95.52

536.08

170.80

415.02

121.06

1971-72

200.16

43.01

103.33

96.83

561.35

151.30

363.51

197.84

1972-73

242.57

64.86

160.31

82.26

554.24

185.54

458.89

95.35

1973-74

369.33

115.77

291.17

78.16

799.01

320.08

809.59

-10.58

1974-75

519.19

166.37

424.73

94.46

1122.40

458.83

1170.86

-48.46

1975-76

545.21

149.49

415.79

129.42

1171.64

437.36

1220.06

-48.42

1976-77

549.82

126.64

369.59

180.22

1247.89

447.58

1291.78

-43.90

1977-78

637.93

157.56

433.83

204.09

1240.54

473.46

1305.77

-65.24

1978-79

791.22

208.29

550.12

241.10

1500.94

589.92

1559.13

-58.19

1979-80

1158.75

405.38

1052.88

105.87

2301.30

1748.88

4532.00

-2230.70

1980-81

1522.44

584.92

1484.67

37.76

2617.61

1585.14

4020.30

-1402.69

1981-82

1719.17

420.95

1209.94

509.23

2636.06

914.52

2617.36

18.70

1982-83

1722.54

401.43

1250.38

472.16

2798.34

906.49

2829.46

-31.11

1983-84

1858.47

404.15

1342.06

516.41

3505.80

1060.64

3516.66

-10.87

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

1522.02

1986-87

2323.49

383.33

1577.02

746.46

4247.10

539.87

2220.03

2027.08

1987-88

3082.43

458.84

1912.54

1169.89

5538.83

721.49

3016.70

2522.12

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

3995.61

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

469.98

4741.09

1607.03

1994-95

4667.24

382.79

3864.15

803.09

6692.31

513.91

5187.33

1504.98

1995-96

4957.60

389.36

4188.58

769.03

7220.50

540.18

5811.03

1409.48

1996-97

5070.71

375.52

4283.94

786.77

7165.07

505.21

5762.65

1402.42

1997-98

4347.07

316.94

3775.92

571.15

7352.27

521.38

6153.96

1198.31

1998-99

4268.00

292.32

3952.00

316.00

7855.00

529.00

7144.00

712.00

1999-00

4393.56

279.65

3896.66

496.90

8066.94

523.16

7286.51

780.43

2000-01

4473.60

272.12

4007.79

465.81

7868.39

483.59

7110.18

758.21

2001-02

4579.12

277.74

4260.24

318.88

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

110.30

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

Note : 1. The data source for this Table for the period 1970-71 to 1999-2000 are Bombay Bullion Association and Press Trust of India. For the period 2000-01 onwards, the data sources are (i) Economic Times, Mumbai for gold and silver prices in Mumbai and LBMA for gold price in London and (ii) IMF IFS for silver price in New York.
2. Data provided in this Table for the period 1970-71 to 1999-2000 and 2000-01 to 2009-10 may not be strictly comparable due to different sources of information.
Source :  1. Bombay Bullion Association Ltd.
2. Economic Times, Mumbai.
3. Press Trust of India.
4. IMF IFS.
5. London Bullion Market Association.

 
 
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