Chennai: Gold has appreciated 17.45 per cent in the Indian market since last Diwali and this is the highest gain since 2020. Silver too has appreciated 23 per cent. On the other hand, Sensex has given returns of 10.78 per cent in a year’s time.
In rupee terms, gold has appreciated Rs 8828 per 10 gm in one year after last Diwali. Gold currently is priced at Rs 59,408 per 10 gm and it stood at Rs 50580 per 10 gm last year. The gain of 17.45 per cent is the highest in the last three years. In 2021, gold prices declined by 6.73 per cent and in 2022 it made positive gains of 6.37 per cent. However in 2020, gold had appreciated 33.15 per cent. In 2020, this was the highest yearly gain in seven years, as per the data of Kedia Commodities.
In 2020, the gold price stood at Rs 50,986 per 10 gm. In the past 10 years since 2013, gold prices in rupee terms are at the highest level in 2023. Compared to the Diwali gold rate of Rs 29,871 in 2013, the metal has appreciated 99 per cent in 2023, doubling in 10 years.
Similarly, silver prices have appreciated 23.44 per cent in a year’s time. From Rs 57748 per kg in 2022 Diwali, silver prices have gone up to Rs 71287 this time, making gains of Rs 13,539 in a year. In 2021, silver prices had made just a nominal growth of 0.50 per cent and in 2022, it declined by 9.94 per cent. However, silver prices made a 35.92 per cent gain in 2020. However, at Rs 71,287, Diwali silver prices are highest in 2023. In the last 10 years, silver prices during the Diwali time have appreciated 46 per cent.
Meanwhile, as of Oct 13, Sensex closed at 66,282, providing returns of 10.78 per cent compared to 59,831 during last Diwali. However, in the last 10 years, Sensex has gone up 212 per cent during the Diwali time.
