Bihar: Gold and silver business slowed down due to the ban of 2000 notes, know how much gold prices changed in 75 years


Neeraj Kumar, Gaya. Due to the announcement of RBI’s ban on circulation of Rs 2000 notes after September 30, there has been a sudden slowdown in the gold and silver business in the district. There are more than 300 gold and silver shops in the entire city. Most of these shops are visited by a few customers throughout the day. On the other hand, due to the huge increase in the prices of gold and silver, due to the low stock at most of the shops, the businessmen are raising their hands to meet the demand of the customers.

Slowdown in gold and silver business

According to the businessmen associated with gold and silver, after the government’s announcement of the ban of two thousand notes, the condition of gold and silver business in the city has become such that where the customers are waiting for the rate of these goods to come down, then there Most of the businessmen have kept the goods under pressure due to the possibility of increase in the price. However, due to marital passion, the businessmen associated with it have given information about some or the other business of jewelery made of gold and silver every day.

Average turnover from Rs 50 lakh to Rs 1 crore per day

If the businessmen are to be believed, on an average, business of Rs 50 lakh to one crore per day has been happening in the city on normal days. This figure increases five to 10 times in marriage. But this time, despite the persistence of marriage, this figure has been eclipsed after the announcement of the ban of two thousand notes. The businessmen associated with this hope that as the last date of demonetisation draws near, the business can improve at the same pace. During the conversation, this was also confirmed by Sanjay Kumar Verma, President of Gaya District Bullion Association and Naveen Kumar Verma, Vice President.

69, 692.35% increase in the price of gold in the country in 75 years

Talking about history, the price of gold in the country has increased by 69,692.35 percent in 75 years. Since independence till now the prices of gold have been increasing continuously. Year-on-year gold prices per 10 grams of 24 carats (approximately) remained as follows-

gold rate after independence

Year – 1947 – Rs 88.62.

Year – 1964 – Rs 93.25.

Year – 1970 – Rs 184.

Year – 1975 – Rs 540.

Year – 1980 – Rs.1333.

Year – 1985 – Rs.2130.

Year – 1990 – Rs.3200.

Year – 1995 – Rs 4680.

Year- 2000- Rs.4700.

Year – 2005 – Rs.7000.

Year – 2010 – Rs 18,500.

Year – 2015 – Rs 26,350.

Year – 2016 – Rs 28,650.

Year- 2017- Rs 29,700.

Year- 2018- Rs 31,450.

Year- 2019- Rs 35,250.

Year – 2020 – Rs 48,650.

Year – 2021 – Rs 48,750.

Year – 2022 – Rs 52,650.

June 01, year – 2023 – Rs 61,800.


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