How gold has actually performed
Not a prediction — a record. Both charts below use RBI's own published annual averages, not estimates.
10.7%
Gold's CAGR, FY15 → FY25
11.4%
Nifty 50's CAGR, FY15 → FY25
₹27,415 → ₹75,842
Gold price per 10g, FY15 → FY25
Gold price over time
Annual average, ₹ per 10 grams, 24K.
Gold vs Nifty 50, indexed
Gold has outpaced equities in some stretches and lagged in others — neither is reliably "better," which is the actual case for holding a small gold allocation rather than going all-in on either.
Gold vs Nifty 50, indexed
Both set to 100 at FY15 — shows relative growth, not absolute price. RBI data.
Why gold "rates" differ by city
You'll see different gold rates quoted for Mumbai, Delhi, Chennai and Bangalore on most sites. This isn't because gold itself is priced differently — it's one global commodity, and GST (3%) is uniform across India. The difference you're seeing is almost always:
Local making charges
Jewellers in different cities charge different making charges, which is the biggest real driver of city-to-city price differences for jewellery specifically.
Dealer margins
Local bullion dealers quote slightly different margins over the base rate — usually a small percentage, not a fundamental price gap.
Association-set local rates
Some cities have local jewellers' associations that publish a daily "city rate" — useful as a local reference point, but not a different underlying commodity price.
For ETFs, mutual funds and digital gold, there's no city-rate concept at all — the price is the same nationally, since you're not buying from a local jeweller.