Festive Season's
Favourites: Gold and
Silver Sparkle as
Safe Investment Bets.
BT Magazine’s The
Point decodes gold
price, silver rate
outlook, other key
figures
Gold and silver take centre stage during the festive season in India. They are also seen as a hedge in times of economic uncertainty or geopolitical tensions, like the current war in the Middle East. Though both metals have largely underperformed the stock market in recent years, they rose sharply after hostilities started in Gaza. Let’s take a look at what the data shows
BT Magazine’s The Point: Bullion Boom
In the past five years, gold and silver have rallied up to 80 per cent despite several headwinds
Gold, Silver prices: Striking Gold
Gold, silver mutual funds & ETFs: Shining Bright
Similarly, gold and silver mutual funds and ETFs have given healthy returns to investors over the past year
The all-time high gold scaled on May 4, 2023 was Rs 61,346 per 10 grams, up 17 per cent since the Russia-Ukraine war, as per data from MCX. Meanwhile, the gains silver witnessed in the past year was 11 per cent compared to the 10 per cent and 13 per cent rise registered by gold and the Sensex, respectively
Gold price: All-time high
Demand for gold in India has rebounded after Covid-19 but it’s still below the highs of 2011-15. Total global demand for gold in 2022 was 4,740 tonnes, up 18 per cent from the 4,012.8 tonnes in the previous year, according to the World Gold Council
Gold demand: Tracking the yellow metal
India’s gold and silver imports have jumped more than eight times in terms of value since 2000
Gold, Silver: Precious Imports
Exports of gems and jewellery from India have increased by over five times since 2000
Exports of gems: Sparkle All The Way
The RBI has launched 65 tranches of Sovereign Gold Bonds so far since its inception in 2015, which indicates its popularity as an investment option
SGB Scheme: Popular Investment
Prices of precious metals may continue to rise in the next 12-24 months, say experts. Check out the outlook by brokerages for gold price and silver price