Gold investing in India came of age in FY21

For a long time, Indians used to splurge on gold. They are the world’s second largest consumers of gold after China. However, gold as an investment, may have finally taken shape in FY21. There were a number of reasons, and we will come back to that later. Let us first look at the chart of gold prices to set a backdrop.

Gold had been in the midst of a rally since late 2018 when the global markets had started becoming richly valued. Through 2019 and the first half of 2020, gold remained the best performing asset class. Geopolitical and economic uncertainty favours gold demand as investors consider it a safe haven in difficult times. From late 2019 to mid-2020, the demand for gold spurted due to the COVID pandemic which triggered the risk that global economies could slow down in tandem. However, things did change after August 2020 for gold.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Panthera Resources Plc

More articles like this

Panthera Resources Plc

Gold metal at 5-month high

Gold prices held steady at their five-month peaks on Tuesday after a strong up move in the previous session. Concerns over broadening inflationary risks kept bullion’s safe-haven appeal intact in the face of a stronger US

Panthera Resources Plc

Gold futures trades higher

Gold futures traded marginally higher on Tuesday, November 9, as the yellow metal mirrored trends in global markets. On the Multi Commodity Exchange (MCX), gold futures due for an December 3 delivery, were last seen trading

Panthera Resources Plc

Gold rebounds as dollar dips

Gold prices bounced back from a three-week low on Thursday as the dollar weakened after the U.S. Federal Reserve approved plans to unwind its stimulus programme this month while retaining low interest rates for some time.

Panthera Resources Plc

Gold prices jump to near 2-motnh high

Gold prices edged higher today in India, tracking positive global cues. On MCX, gold futures were up 0.4% to two-month high of ₹47,979 per 10 gram, extending Friday’s 0.9% gain. Silver futures were up 0.4% to ₹65,898 per

Panthera Resources Plc

Gold rises, set for weekly gain

Gold inched higher and was poised for a second weekly gain on Friday, as a softer dollar provided some respite against higher U.S. bond yields and rising expectations that central banks could begin easing economic support.

Panthera Resources Plc

Gold prices rise to near one-month high

Gold and silver prices edged higher today in Indian markets, tracking favourable global cues. On MCX, gold prices were up 0.5% to near one-month high of ₹47,546 per 10 gram while silver futures rose 1.4% to ₹64,150 per

Panthera Resources Plc

Gold eyes best week since early May

Gold was set on Friday for its best week in more than five months as a retreat in the U.S. dollar and Treasury yields lifted the metal’s appeal despite a looming Federal Reserve taper. Spot gold XAU= held

Panthera Resources Plc

Gold prices rise as dollar drops

Gold prices held steady on Wednesday morning, helped by a slight pullback in dollar, while investors awaited US inflation data to gauge the Federal Reserve’s path on normalising policy. Spot gold was little changed at $1,762.12

Panthera Resources Plc

Gold rises Rs 269

Gold prices rose by Rs 269 to Rs 45,766 per 10 grams in the national capital on Tuesday amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,497

Panthera Resources Plc

Gold edges up

Gold prices edged up on Wednesday as a slight dip in U.S. bond yields provided some support against growing expectations of quicker-than-expected U.S. interest rate hikes that also pushed the dollar to a multi-month high. Spot

Panthera Resources Plc

Gold gains as dollar retreats

Gold rose on Tuesday, helped by a weaker dollar, while investors were focused on the start of a two-day Federal Reserve policy meeting that could provide clues on the timeline for tapering of the central bank’s

Panthera Resources Plc

Gold price back above $1,800

Gold pared earlier losses and rose above the $1,800 level once again after the latest US inflation data came in slightly lower than expected, which may ease fears that the Federal Reserve will be forced to

Panthera Resources Plc

Gold: Room for further gains

Open interest in gold futures markets rose by nearly 9K contracts on Friday and reversed two consecutive daily pullbacks considering flash data from CME Group. In the same line, volume went up by almost 75K contracts,