In India, gold prices have risen by about 28 per cent this year. Experts say that in 2021, gold has become the first choice of investors in the yellow metal. Speaking of the global market, the luster of gold here has increased by 23% in 2020. In fact, demand for gold has increased this year to offset the damage caused to the economy by the Corona virus epidemic and to offset rising inflation. Investing in gold is considered to be the best option to reduce the impact of inflation. 2020 has been the second year in a row that gold prices have soared. Earlier, 2019 saw a double growth in gold prices.
Gold prices rose steadily after March
The first two months of this year saw a slight rise in the price of gold. But since March, the global Corona virus epidemic has seen a sharp rise in gold. In August 2020, the gold price touched a high of Rs 56,200 per 10 grams.
Experts point out that gold prices rose due to uncertainty over the global economy following the outbreak of the Corona virus. Investors invested heavily in the liquidity measures taken by the central banks. Even in times of economic uncertainty, it is best to invest in gold.
Prices are likely to rise next year as well
Commodity market insiders say that in the year 2021, investors will be looking at the yellow metal. The biggest reason for this is that central banks around the world have cut interest rates and also eased liquidity conditions to bolster growth. The current stimulus package by the US government will increase the liquidity of the dollar in the system. Gold will find support prices after the dollar weakens. Moreover, the availability of vaccines, low interest rates will continue in 2021.
In the midst of all this, gold fell by Rs 252 to Rs 49,506 in Delhi's bullion market. However, silver was seen trading above Rs 900 per kg here on Wednesday. On Wednesday, silver rose by Rs 933 to Rs 66,493 per kg in Delhi's bullion market.
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