What the recent correction in gold prices means for investors4 min read 06 Jan 2021, 06:52 AM IST
Experts believe the correction is short-term and offers a window of opportunity to invest in the metal
Gold was the best performing asset class of 2020, delivering a return of around 27% compared to 16% by the S&P Sensex. The high returns were said to have come primarily on the back of covid-19-induced uncertainty. However, as major economies across the world gear up to administer the covid-19 vaccine building up the hope that normalcy will return soon, the price of the yellow metal has come under pressure. Gold has corrected around 9% from its peak of ₹55,922 per 10 grams in August 2020 to currently at around ₹51,375 per 10 grams.
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