Spot gold jumped more than 25% in 2020, will the trend continue this year?
Though gold has delivered stellar returns in the last two years, this kind of performance cannot be expected in 2021, says Hareesh V of Geojit Financial Services.
. Hareesh V January 11, 2021 / 09:13 AM IST
Gold outperformed in 2020 by gaining about 26 percent in the international market and nearly 28 percent in rupee terms. It was also the second year in a row that London spot prices gained by more than 25 percent in a year.
As an ultimate store of value, gold has performed well since the beginning of 2020. Increased demand for safe-haven assets following concerns over economic slowdown after the global outbreak of coronavirus supported the metal. Large scale fiscal stimulus measures taken by various central banks, a weak dollar and escalating geopolitical tensions also lifted the safe-haven status of the yellow metal.
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