The correct answer is C.
The price index is a measure of the average change over time in prices paid by urban consumers for a market basket of consumer goods and services. The base period is the period for which the index is set at 100. The current price index (base 1960) is nearly 330. This means that the weighted mean of prices of certain items has increased 3.3 times since 1960.
Option A is incorrect because it is not necessarily true that all items cost 3-3 times more than what they did in 1960. The price index is a measure of the average change in prices, so it is possible that some items have gone up in price more than 3-3 times, while others have gone up in price less than 3-3 times, or even gone down in price.
Option B is incorrect because it is not necessarily true that the prices of certain selected items have gone up to 3-3 times. The price index is a measure of the average change in prices, so it is possible that some items have gone up in price more than 3-3 times, while others have gone up in price less than 3-3 times, or even gone down in price.
Option D is incorrect because the price index is a measure of the average change in prices of consumer goods and services, not gold.