In 2020, the BSE Sensex has gained more than 14 per cent. This year, gold rose more than 40 percent and in August its price was Rs 56000 per 10 grams. But since then, the price of gold has come down and it is in the range of 49000 to 50000 rupees per 10 grams.
This year, the reason for the sharp rise in the price of gold was the Corona virus, due to which people were looking for a safe place to invest. Investment in gold has always been safe. Because of Corona, people in the stock market reduced investment, because investing in the stock market is risky. Gold was slowly increasing in January-February this year, but it gained momentum after the Corona Voice knocked in India in March. In August, its rate had reached above Rs 56000 per 10 grams.
The price of gold reached its peak in August but has since fallen. The reason for this decline is that rich investors are turning to equities in a bid to make quick money. Experts say that those who invest in gold in the new year will have to show restraint and hold the investment for a long time to get the desired returns. The reason for this is that with the acceleration of vaccination, the price of gold may fall further in the short term.