Will Gold price hit Rs 65,000 in 2021? Should you buy yellow metal? EXPLAINED in easy language
Gold price witnessed a flurry of activity in 2020 where the yellow metal sank to Rs 38400 per 10gms ($1451.10 per ounce) in March initially but as the global markets nosedived due to the uncertainty caused by Covid-19, investors dumped riskier assets and rushed towards the safety of gold which fueled a sharp rise in prices towards Rs 56191 per 10gms ($2075 per ounce), an all-time high in 2020, reports Religare Broking.
Gold price came under pressure later amid signs of revival in economic activity as lockdown restrictions eased around the world, which turned investors’ focus to riskier assets: Reuters