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Project 5 : "Gold & Generations: Connecting Family Moments to Economic History"

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Rakhee Mishra

 



Project 5 : "Gold & Generations: Connecting Family Moments to Economic History"

Introduction

Gold has always held a special place in Indian households, especially during important family occasions like weddings, births, and religious ceremonies. But have you ever wondered how much gold used to cost when your grandparents got married, or when your parents were born? What was happening in the country or the world at that time that might have influenced the price of gold?

In this project, you will explore how gold prices have changed over time and connect those changes with important family events and historical milestones. This activity will help you understand how data can tell a story — one that is personal to your family and yet connected to the broader world.

Objective

To collect, represent, and analyze data on gold prices from the time of your grandparents (or great-grandparents, if available) to the present day. You will observe trends and relate them to major events in the country or the world.

Instructions

Step 1: Data Collection

  • Talk to your grandparents, great-grandparents, and other family members about key family events (e.g., weddings, births, anniversaries).
  • Try to find out the price of gold (per 10 grams) at the time of those events.
  • If the exact gold price is not known, you may:
    • Ask extended family members.
    • Search the Internet for historical gold price data for that year or period.

 Aim to collect gold prices every 3 or 5 years, starting from the earliest event to the present.

You may refer to the internet for more information 

https://www.bankbazaar.com/gold-rate/gold-rate-trend-in-india.html



Step 2: Data Presentation

  • Make a table with the following columns:

Year

Family Occasion

Gold Price (₹ per 10g)

National/World Event
  • Choose one or more of the following to represent your data visually:
    • A line graph showing the trend in gold prices.
    • A bar chart comparing gold prices across decades.
    • A timeline linking family events and global/national events.

Step 3: Analysis

  • Look at the gold price graph. Do you see any sudden increases or drops?
  • Research and note down what major events happened in India or around the world in those years.
  • Try to answer:
    • How might these events have affected the price of gold?
    • Do you see any pattern between political or economic instability and the price of gold?
    • What is the difference between the earliest and latest gold prices in your chart?

Additional

  • Adjust the old prices for inflation and compare them with today’s prices(optional)
  • Compare Indian gold prices with international trends (e.g., in US Dollars).
  • Predict what the price of gold might be in 2030, based on the trend.

Expected Learning Outcomes

  • Understand data collection and representation.
  • Interpret line graphs and bar charts.
  • Relate mathematical data to historical and economic contexts.
  • Appreciate the real-life relevance of mathematics.

Submission Format

  • A neatly compiled project (handwritten or digital), including:
    • The data table
    • Graph(s)
    • Written analysis (1-2 pages)
    • Sources of information (family interviews, websites, etc.)

 

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Location: Jabalpur, Madhya Pradesh, India

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