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Table 41 : Average price of gold and silver in domestic and foreign markets

Year

Gold

Silver

 

Mumbai

London

Spread in

Mumbai

New York

Spread in

 

Rupees per

$ per

Rupees per

Rupees

Rupees per

Cents per

Rupees per

Rupees

 

10 gms.

troy oz.

10 gms.

(2-4)

kg.

troy oz.

kg.

(6-8)

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

483.16

7110.18

758.20

Note : 1. Information on bullion prices after 2000-01 is not reported in this table as the Bombay Bullion Association Ltd. discontinued the release of this data.
2. The exchange rate used for conversion refers to the average of RBI’s Rupee-Dollar rate.
Source : 1. Press Trust of India.
2. Bombay Bullion Association Ltd.

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