Gold is an integral part of Indian society. It is ingrained into our culture in a way that it encourages us to keep buying gold periodically, especially during festive and auspicious occasions. And even though there are now several other financial schemes that one can invest in, gold continues to be the biggest attraction when it comes to security. This makes India the second-largest consumer of gold in the world, after China. This has been further vindicated by the superb returns generated by this yellow metal in the last one year. For the one-year period ending May 8, 2020 the price of the gold in the Indian market has increased by 44.4 per cent. Gold prices in India have increased from ₹32,850 per 10 gram at the end of May 8, 2019 to ₹47,435 per 10 gram at the end of May 7, 2020. This return has helped gold to be one of the best performing asset classes. In the same period, for instance, equity has generated negative return.
The ‘Shine’ Factors
Whether it is an exception that gold has generated superb returns in the last one year or it is actually a good asset class is a question overlooked by many investors due to different reasons.
This story is from the May 25, 2020 edition of Dalal Street Investment Journal.
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This story is from the May 25, 2020 edition of Dalal Street Investment Journal.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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