
Gold: The Safe Bet In 2023
The yellow metal had an impressive run in 2022 as it emerged as a safe haven due to rising inflation, geopolitical crisis, and recession fears. The trend is likely to continue in 2023.
The yellow metal had an impressive run in 2022 as it emerged as a safe haven due to rising inflation, geopolitical crisis, and recession fears. The trend is likely to continue in 2023.
Though physical gold still trumps digital gold consumption by a big margin, there is immense scope for digital gold assets to grow
True to its nature, gold takes a plunge with rise in global interest rates
Gold exchange traded funds added a record 877 tonnes during 2020, nearly 231 tonnes more than the 2009 record of 646 tonnes. Experts argue much of gold's growth drivers will continue in 2021 too.
At a time when India’s benchmark equity indices are hitting fresh highs every week, statistics show that gold is losing its safe haven sheen.
A World Gold Council report says global demand for gold has taken a beating, falling by as much as 19% in the third quarter of this year.
But once lockdowns are lifted in phases and economies continue to show signs of sustained recovery, expect gold to lose its shine and some of its perfection.
According to the World Gold Council, global gold-backed ETFs added 298 tonnes during January-March 2020, the highest quarterly addition since 2016.