This Article is From Nov 16, 2020

At 32% This Year, Gold Gives Best Return In 9 Years

Gold is in a broader uptrend this year on account of rising coronavirus infections around the globe and changes in forex rates.

At 32% This Year, Gold Gives Best Return In 9 Years

In a broader trend, gold has been appreciating since 2018

Gold has appreciated over the past few weeks, taking its return Diwali 2020 to 32 per cent compared to Diwali 2019. This is the best Diwali-to-Diwali return for gold since 2011, when the yellow metal had surged 38 per cent compared to the previous year. Though optimism around a COVID-19 vaccine has brought gold about 11 per cent off an all-time high in August, gold is in a broader uptrend this year on account of rising coronavirus infections around the globe and changes in forex rates. 

Here's how gold has performed over past few years:

Best Diwali Return In 9 Years

YearMCX FuturesDiwali-To-Diwali Return
2020Rs 50,679.532.43%
2019Rs 38,26920.71%
2018Rs 31,7027.11%
2017Rs 29,598-1.61%
2016Rs 30,08217.11%
2015Rs 25,686-6.53%
2014Rs 27,481-7.86%
2013Rs 29,826-6.14%
2012Rs 31,77816.15%
2011Rs 27,35937.52%
(Source: MCX data)

Gold has been appreciating since 2018, with a more intensified upmove over the past few months due to COVID-19-related lockdowns, say analysts.

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