32: Gold prices rise over Rs 50000: Will rally last?
All Things Markets
English - July 23, 2020 03:30 - 13 minutes - 12.6 MB - ★★★★★ - 1 ratingNews Commentary News industry news fmcg construction stocks banking rbi bse aadani financial news financials Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Indian spot gold prices surged over Rs 50,000 per 10 gram for the first time ever on Wednesday. Investors have embraced gold in 2020 as a key portfolio hedging strategy. Gold had a remarkable performance in the first half of 2020, increasing by 16.8% in US-dollar terms and significantly outperforming all other major asset classes by June. Though equity markets around the world rebounded sharply from their lows, the high level of uncertainty surrounding the COVID-19 pandemic and the ultra-low interest rate environment supported strong flight-to-quality flows. However, gold ETF inflows in India have fallen around 50% in June. So, what’s the outlook on gold. To discuss that I am joined by Chirag Mehta, Senior Fund Manager, Alternative Investments, Quantum Mutual Fund.