Delhi. Gold remained the preferred tool of investment for investors in 2020 due to the Corona epidemic. In the domestic futures market this year, gold has returned more than 28 per cent compared to last year, which is the highest annual return in yellow metal since 2011. At the same time, on the global market, gold on Comex has returned about 22 percent.
In the Corona period, gold gained historical heights in domestic and foreign markets. On August 7, the price of gold on the domestic futures market Multi Commodity Exchange (MCX) rose to a record Rs 56,191 per 10 grams, the highest level ever.
However, the gold level on MCX this year was Rs 38,400 per 10 grams on 16 March. Thus, gold prices rose by Rs 17,791, or 46.3 per cent, this year from a lower level.
But speaking of annual routine, on 31 December 2019 last year, gold price on MCX was Rs 38,108 per 10 grams, while in the last trading session on 24 December it was Rs 50,064 per 10 grams. Thus, the price of gold has increased by 28 percent as compared to 31 December 2019.
Gold on the international futures market Comex was at $ 1,550.60 an ounce on December 31, 2019, while in the previous session on December 24, gold was at $ 1,882.90 an ounce. Thus, compared to last year, so far this year gold has returned 21.86 per cent.
Gold price on Comex on March 16 was $ 1,458.80 an ounce, which is the lowest level for the year 2020, while on August 7, 2020 gold rose to $ 2,089.20 an ounce on Comex, the highest level ever. In this way, gold rose more than $ 630, or 43 percent, from a low this year.
Lockdown-like restrictions were imposed in various countries of the world as a way to break the link of corona virus infection, which caused economic activity to collapse. In such a situation, gold became the preferred means of investment for investors.
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