Thursday, February 29, 2024

Gold Prices At Record High Gold Gave More Return Than Sensex Nifty In…

Gold Prices: On Monday, March 20, 2023, gold crossed the historical level of Rs 60,000 per 10 grams. Gold has reached the level of Rs 60,418 per 10 grams on the Multi Commodity Exchange. On the last trading day of 2022, gold was at Rs 54,790. That is, in 2023, investors who have invested in gold have got a return of more than 10 per cent or Rs 5600 per 10 grams. In the beginning of 2022, gold was at Rs 47850. That is, in these 14 months, gold has given a return of 26 per cent or Rs 12550 per 10 grams.

Gold gave excellent returns

It should be remembered that 2022 has been a year of Russia’s military attack on Ukraine, followed by global economic crisis, backbreaking inflation and expensive interest rates, so in 2022 there was a huge decline in the stock markets around the world. Commodity prices may rise in the beginning of 2022 but slip down at the end of the year. But the people who invested in gold, the shine of gold made them rich.

Gold was around Rs 12,000 in 2008

Whenever inflation is high, investors invest in gold for hedging and saving their hard earned money. And people investing in gold have never been disappointed. In 2008, when the Global Financial Crisis was witnessed due to the bankruptcy of Lehman Brothers, gold was trading around Rs 12,000 per 10 grams. In 2012, the price of gold had reached Rs 31,000. However, after that there was a softening in the prices. In the year 2018, gold was trading around Rs 30,000 to Rs 31,000 per 10 grams. And after that the price of gold has doubled in five years. That is, investors investing in gold have got 100% returns in 5 years.

Gave more returns than Sensex-Nifty in 5 years

In 2018, the National Stock Exchange’s Nifty was trading near 11,000 points and is now trading at 17,100. That is, Nifty has given only 55% returns in this period. Talking about Sensex, in 2018, Sensex was close to 33,000 points, which is now close to 58000, which means Sensex has given a return of 75 percent. But gold has given 100% returns more than Sensex and Nifty.

Gold can go up to 65,000

According to experts, the rise in gold is not going to stop here. As the global economic crisis continues, there is no respite from inflation and central banks around the world continue to raise interest rates, despite minor corrections in prices in between, the price of gold is predicted to go up to Rs 65,000 per 10 grams. In times of global uncertainty, gold has always been seen as a safe investment.

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