GOLD: RESILIENTLY STRONG PERFORMER

GOLD surged more than 20 per cent in 2024, continuing its outperformance of the past two years. Indeed, gold yielded better returns than the Nifty and the BSE Sensex during the same period. Gold prices in the domestic market rose 26 per cent in 2024, touching an all-time high of Rs 79,700 per 10 gm.

- COLIN SHAH, MD, Kama Jewelry

The high prices diluted the buying power of consumers, who, as a result, opted for more compact and economical jewellery. A recent report by the World Gold Council states that in the Indian market during calendar year 2024 gold prices rose to Rs 7,300 per gm, registering a growth of more than 26 per cent. In terms of the dollar, the growth in prices till the end of November stood at about 28 per cent.