10/08/2013

Gold and Silver Rates from 1981 to 2013

Summary Last 20 years gold and Silver Rates, Last 15 Years Gold and Silver Rates, Last 10 years gold and Rates, last 5 years Gold and Silver Rates, Valuation of Gold And Silver
Gold and Silver Rates from 1981 to 2013


Conversion Table

1 Tola = 11.664 Grams
10 Grams = 0.857 Tola
1 Kg. = 85.734 Tola
10 Tolas = 116.63 Kgs.

Note: (1) The gold and silver rates have taken from the Register of Bombay Bullion Association Limited    
                Mumbai
          (2) Silver wares utensils etc.are liable for wealth tax from Assessment Year 1972-73 and onward.

Valuation for Gold Ornaments
In our opinion, while determining the market value of gold ornaments, the following factors are required to be taken into consideration, namely;-  
(i) Difference in price between 24 Carats of standard gold and 22 carats of Gold Ornaments 8.33%
(ii) Licensed dealers margin of profit when ornaments are sold in the market 3.00%
(iii) Melting charges payable to government refinery and for conversion of gold ornaments into standard gold bras percentage to be
deduct in respect of gold bangles
Soldering made of copper, silver etc. in necklace and other fancy ornaments varying between 8% and 10%
% to be deducted in respect of gold ornaments other than gold bangles

0.67%
12.00%

9.00%
12.00%
For the reasons stated above, it is suggested to adopt the following formula 
In Case of Gold Bangles                              Deduct 12%
In case of other ornaments made of Gold     Deduct 12%


Note: Vide Circular No. 646 Dated 15.3.1993, The Board has decided that valuation report of jewellery as given by the registered valuer for a particular assessment year can be used for subsequent four assessment years subject to certain adjustments as specified under Rule 19 of Schedule III of the Wealth Tax Act.

Below is the Rate of Gold & Silver from Asstt. Year 1981-82 to 2013-14
Asstt. Year Valuation Date Gold For 10 Gms. Silver 999 Touch for 1 Kg
1981-82 31st March 1981 1700.00 2720.00
1982-83 31st March 1982 1645.00 2680.00
1983-84 31st March 1983 1800.00 3105.00
1984-85 31st March 1984 1975.00 3570.00
1985-86 31st March 1985 2130.00 3955.00
1986-87 31st March 1986 2140.00 4015.00
1987-88 31st March 1987 2570.00 4794.00
1988-89 31st March 1988 3130.00 6066.00
1989-90 31st March 1989 3140.00 6755.00
1990-91 31st March 1990 3200.00 6463.00
1991-92 31st March 1991 3466.00 6646.00
1992-93 31st March 1992 4334.00 8040.00
1993-94 31st March 1993 4140.00 5489.00
1994-95 31st March 1994 4610.00 7115.00
1995-96 31st March 1995 4680.00 6335.00
1996-97 31st March 1996 5200.00 7600.00
1997-98 31st March 1997 4800.00 7340.00
1998-99 31st March 1998 4045.00 8560.00
1999-00 31st March 1999 4275.00 7660.00
2000-01 31st March 2000 4370.00 7645.00
2001-02 31st March 2001 4085.00 7180.00
2002-03 31st March 2002 5060.00 7950.00
2003-04 31st March 2003 5260.00 7660.00
2004-05 31st March 2004 6050.00 11625.00
2005-06 31st March 2005 6180.00 10675.00
2006-07 31st March 2006 8382.00 16770.00
2007-08 31st March 2007 9300.00 19600.00
2008-09 31st March 2008 11920.00 22314.00
2009-10 31st March 2009 15132.00 21855.00
2010-11 31st March 2010 16380.00 27460.00
2011-12 31st March 2011 20775.00 56900.00
2012-13 31st March 2012 28040.00 56290.00
2013-14 31st March 2013 29605.00 54182.00

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