The gold price crashed internationally three times from 1980 to 1999, falling from $850 per ounce to $252 per ounce. During this period, the Indian rupee weakened six times against the US dollar, causing the Indian gold price to rise three times in rupees from Rs. 1,159 to Rs. 4,474. However, few Indians now understand that gold prices can fall due to increased financial awareness. Indians currently hold around 20,000 tons of gold worth around $1 trillion, but gold is considered a non-productive asset. The myth that gold prices never fall is untrue.

1. Gold – Not Glittering
The Reality – The gold price was crashed in the international market almost 3 times from
$850 per ounce in 21.01.80 to $252 per ounce in 25.08.99. During this period, the Indian
rupee became weaker almost 6 times from Rs.8.19 to Rs.46.64 against $1 . This has pushed
up the Indian gold price from Rs.1159 to Rs.4474 almost 3 times in Indian rupees. But due
to continuous financial awareness very few people now understand that gold prices can
fall.
We Indians are holding around 20000 tones of gold which has a valuation of $ 1 Trillions.
Gold is one of the most non productive assets.
Myth - Gold price never fall.
An initiative to promote Financial Awareness by
BISWAJIT DAS
Diploma in Wealth Management – IIFP Delhi, Goal Planning Specialist – EDGE Learning Academy
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http://www.gold.org/research/download-the-gold-price-since-1978
http://apnaplan.com/gold-price-in-india-40-years-history/#