INSUBCONTINENT EXCLUSIVE:
Gold registered a good run in calendar year 2020 thanks to uncertainty around the coronavirus pandemic which caused a global equity selloff
While optimism on development of COVID-19 vaccines backed a recovery in the share markets, gold took a breather after months of a broader
2020 will be only the second best since 2008, the year of the global financial crisis.Domestic benchmark rates began the year around Rs
39,600 levels and moved within a range of 3 per cent until the coronavirus outbreak, which took the precious metal to unprecedented levels
of Rs 46,000 in April, followed by Rs 47,000 in May and June, and Rs 49,000 in July.Typically, gold takes support from a general sense of
risk aversion, especially when investors exit from stocks and rush to safe-havens such as precious metals and bonds.In August, domestic gold
prices soared to an all-time high of Rs 57,100 following months of uncertainty around the pandemic, before giving up some of those gains in
cracking to lower levels in the last month of the year.YearMCX FuturesAnnual Return2020 (till Dec 15)Rs 50,679.532.43%2019Rs
38,26920.71%2018Rs 31,7027.11%2017Rs 29,598-1.61%2016Rs 30,08217.11%2015Rs 25,686-6.53%2014Rs 27,481-7.86%2013Rs 29,826-6.14%2012Rs
31,77816.15%2011Rs 27,35937.52%(Source: MCX data)In a broader trend, gold has been appreciating since 2018.
