At 32% This Year, Gold Gives Best Return In 9 Years
Gold has appreciated over the past few weeks, taking its return Diwali 2020 to 32 per cent compared to Diwali 2019. This is the best Diwali-to-Diwali return for gold since 2011, when the yellow metal had surged 38 per cent compared to the previous year. Though optimism around a COVID-19 vaccine has brought gold about 11 per cent off an all-time high in August, gold is in a broader uptrend this year on account of rising coronavirus infections around the globe and changes in forex rates.Â
Here's how gold has performed over past few years:
Best Diwali Return In 9 Years
| Year | MCX Futures | Diwali-To-Diwali Return |
|---|---|---|
| 2020 | Rs 50,679.5 | 32.43% |
| 2019 | Rs 38,269 | 20.71% |
| 2018 | Rs 31,702 | 7.11% |
| 2017 | Rs 29,598 | -1.61% |
| 2016 | Rs 30,082 | 17.11% |
| 2015 | Rs 25,686 | -6.53% |
| 2014 | Rs 27,481 | -7.86% |
| 2013 | Rs 29,826 | -6.14% |
| 2012 | Rs 31,778 | 16.15% |
| 2011 | Rs 27,359 | 37.52% |
| (Source: MCX data) | ||
Gold has been appreciating since 2018, with a more intensified upmove over the past few months due to COVID-19-related lockdowns, say analysts.
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