Why Are Gold Prices Surging? Should You Invest In It? I Mitali Mukherjee I Gold Market
The Wire
2021-06-03
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In 2020 – after a gap of over 9 years, gold hit the psychological mark of Rs 50,00 for 10 grams. But it isn’t a one off for this precious metal. In 2019, gold prices rose by 25% on MCX, the year before that it was a more modest 6%. But COVID has changed everything.
In this video, Mitali Mukherjee explains that the biggest reason for this surge though is gold’s perception as a “safe haven”. The qualities attached to this include a guaranteed return, relatively stable prices and the ability to go against the trend. In an environment such as the one we have going today, the COVID pandemic, huge economic uncertainty, volatility in other investment options like stock markets and real estate, gold, a safe haven, sees it’s prices rise when other investments suffer extreme losses.
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In this video, Mitali Mukherjee explains that the biggest reason for this surge though is gold’s perception as a “safe haven”. The qualities attached to this include a guaranteed return, relatively stable prices and the ability to go against the trend. In an environment such as the one we have going today, the COVID pandemic, huge economic uncertainty, volatility in other investment options like stock markets and real estate, gold, a safe haven, sees it’s prices rise when other investments suffer extreme losses.
Like our work? Click here to support The Wire: https://thewire.in/support
The founding premise of The Wire is this: if good journalism is to survive and thrive, it can only do so by being both editorially and financially independent. This means relying principally on contributions from readers and concerned citizens who have no interest other than to sustain a space for quality journalism. As a publication, The Wire will be firmly committed to the public interest and democratic values.
We publish in four different languages!
For English, visit www.thewire.in
for Hindi: http://thewirehindi.com/
for Urdu: http://thewireurdu.com
for Marathi: https://marathi.thewire.in
If you are a young writer or a creator, you can submit articles, essays, photos, poetry – anything that’s straight out of your imagination – to LiveWire, The Wire’s portal for the young, by the young. https://livewire.thewire.in/
You can also follow The Wire’s social media platforms and engage with us.
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