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Since the commencement of our planet, pretty much every settled culture has utilized gold to represent power, excellence, immaculateness, and achievement. Likewise, India is probably the biggest buyer of gold. Today we keep on utilizing gold for our most purposes: wedding rings, Jewellery, medals, gold biscuits, ornaments and craftsmanship.                                                                                                                                                                                              There's no uncertainty that there is a huge estimation of gold in India and this yellow metal is cherished by all Indian ladies. Gold is a significant piece of the promising celebrations of India. It represents abundance, extravagance, and success. Gold adornments are so famous among Indian ladies that they wear them on pretty much every event. The gold sales in India expand each Dhanteras.

As of today the real interest rate is negative and the short-term interest rate is 0.3% and inflation stands at 1.4% hence investors are choosing gold over paper. In a world of negative interest rates, gold will outperform.

In late 2015, investors hated gold but in early 2016, investors started getting back into gold as the interest rates were increasing and gold was considered as an asset. It is constantly seen as a non-risky investment that will assist with recovering from any financial crisis.

The chart below contains the history of gold prices from 2000 to 2020:

Year

     Price ( 24 karat per 10 grams)

2000

Rs.4,400

2001

Rs.4,300

2002

Rs.4,990

2003

Rs.5,600

2004

Rs.5,850

2005

Rs.7,000

2006

Rs.8,400

2007

Rs.10,800

2008

Rs.12,500

2009

Rs.14,500

2010

Rs.18,500

2011

Rs.26,400

2012

Rs.31,050

2013

Rs.29,600

2014

Rs.28,006

2015

Rs.26,343

2016

Rs.28,623

2017

Rs.29,667

2018

Rs.31,438

2019

Rs.35,220

2020

Rs.48,651

 

Lately, gold costs have kept on rising. Also, after the March crash because of the COVID-19 lockdown, they figured out how to get through the 50,000 rupees mark in July 2020.

 



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