At 32% This Year, Gold Gives Best Return In 9 Years

In a broader trend, gold has been appreciating since 2018

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.

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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