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All That Glitters
Business Today India
|May 12, 2024
The price of gold has been rising unabated. It has soared to more than 73,000 per 10 gm in 2024 from *31,000 in early 2018. Is the rally sustainable or is this a bubble?
THE YEAR 2024 has so far, been a dazzling one for gold, which has recorded a new high of more than ₹73,000 per 10 gm on the MCX in 2024. The prices are up by more than 10% this year, outperforming the Nifty.
The current bullish trend in gold prices is attributed to several factors, including heightened global tensions and increased central bank buying worldwide. Geopolitical risks stemming from conflicts between Ukraine and Russia, and Iran and Israel have fueled the bullion’s demand as a safe-haven asset.
This story is from the May 12, 2024 edition of Business Today India.
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