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Gold is considered the companion of bad times. This is the reason why people have been liking it since time immemorial. In India, people like gold not only for beauty, but it has been a traditional means of savings and investment. Now again the luster of gold has started intensifying.
Such is the condition of the market
In this era of economic recession and all-round layoffs in companies of all sectors, investors are liking gold very much. The yellow metal has also proved itself time and again by giving excellent returns in difficult times. If we talk about now, when the market is slow and the economies are sluggish, then gold is shining more. During the year 2023, gold has become stronger by more than 10 percent so far.
forecast for the coming months
Four and a half months have passed since the beginning of the year and during this period generally gold has been on the rise. Gold investors have booked sporadic profits on a few occasions this year. With economic uncertainty still prevailing and fears of a deepening recession, expectations remain strong for gold in the remaining months of the year.
so much gold
In a Mint news, brokerage firm MK Global Financial Services has been quoted as saying, the asset class which has given excellent returns during the recent months is gold. it has year 2023 I have given 10 per cent returns so far and 23 per cent returns since its lowest level at the end of 2022. In the recent past, increasing financial crises and uncertainty on the economic front have helped gold.
Price increases due to these reasons
Let us tell you that whenever apprehensions about the economy increase, it is a good time to sleep. If you look at the current situation, the recession is standing in the most serious form in front of many developed economies. America, the world’s largest economy, is on the brink of default. The banking crisis that started from America has also made many global banks a victim. The rally is missing from the stock markets. In such a situation, investors buy expensive metals, especially gold, as a safe investment. This increases the demand for gold and which ultimately increases the price.
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