“A confluence of macroeconomic, geopolitical, and investment-related factors has driven Gold’s performance in 2024. With such strong tailwinds, Gold has solidified its position as a standout asset in the portfolios of both individual and institutional investors. Gold reached an all-time high of $2,790/oz in international markets, while in domestic markets, it soared to a record Rs.79,775/10gm. With returns of around 27 per cent in international markets and more than 20 per cent (20.91 per cent) in domestic markets, Gold outperformed most asset classes, including equities. The benchmark Nifty index, which touched record highs of 26,277 mark in September, has risen 8.5% year-to-date” said Sugandha Sachdeva, Founder of SS WealthStreet.
Why MCX gold rate outperformed Nifty 50, Sensex, Bank Nifty in YTD? Explained with 5 crucial reasons
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