Over the past few years, those who buy gold on Dhanteras have become rich. If one had bought gold on Dhanteras last year too, he would have got a bumper return by now. Along with gold, silver has also given spectacular returns. Gold has returned 33% and silver 40% in one year. Silver has outperformed the stock market, breaking all records.
Last year, Dhanteras was on November 10, when the price of gold was around Rs 61,000 per 10 grams. Now the price has increased to over Rs 80,000. This year too, the price of gold has seen an increase of more than 31 percent. The price of silver on last Dhanteras was Rs 70 thousand per kg which had crossed Rs 73 thousand in January and now the price of silver has crossed Rs 1 lakh in the last 10 months. The price of silver has increased by more than 35% during the calendar year.
A 45-year-old record was broken.
Gold and silver have broken the record of last 45 years. According to a data, in the year 2024, the prices of gold and silver have increased the most in 45 years. In the year 2007, the price of gold increased by about 31%. The fastest growth was recorded in 1979 at 133 percent. If gold prices continue to rise in the same way, gold and silver prices will rise further in the coming years.
Gold gave 2.5 times return in 10 years.
In January 2014, the price of gold was Rs 29,462 which will touch Rs 80,000 in October 2024. This means it has given a return of more than 2.5 times during this period. The price of silver has increased by about 40% since the end of last year. Due to this, the price of silver increased by 21.56% last year. In 2020, silver gave a return of 35.49%. In the year 2014, the price of silver was Rs 43070 per kg, which has now increased to Rs 100,000 per kg. This means that it has also given more than 2 times profit to the investors.
outperformed the stock market.
This year silver has given the highest returns compared to gold, Sensex and Nifty. The stock market has seen a lot of ups and downs this year. The biggest drop was seen in October. Sensex and Nifty have fallen around six percent. Despite this decline, Sensex has returned 9.91% and Nifty 11.27% in the current year.
