The Rise of Gold: A Year of ‘Golden Returns’ and a Look Back at 14 Years of Growth
The Rise of Gold: A Year of 'Golden Returns' and a Look Back at 14 Years of Growth
India has a significant passion for gold, with consumers often purchasing gold jewelry with savings. It will not be surprising that the average gold consumption in India matches the country’s total GDP. While gold is considered a good investment, many ordinary people miss out on its benefits because they primarily invest in gold jewelry.
This year, gold prices have reached a 14-year high, increasing by 28-29% throughout the year. Although gold prices can fluctuate, these changes do not affect the overall returns on investment. Prices are expected to rise even more as Diwali approaches.
Globally, gold is in high demand, and in India, the tradition of buying gold and silver during Dhanteras and Diwali further fuels this demand for jewelry, coins, or idols.
Gold has been providing remarkable returns to investors, establishing itself as a leading asset class. Over the past year, it has delivered a 29% return, and as of October 15, 2024, it has provided a 21% return to investors.
In the last three years, gold has achieved an impressive 62% return, reinforcing its status as a profitable investment option.
It’s important to note that while the stock market can offer attractive returns, it also comes with significant risks. In contrast, gold is consistently viewed as a safe-haven asset.
Amid current global tensions, gold has produced:
– A 2% return over the past week
– A 4% return over the past month
Gold’s stability and potential for growth continue to make it a favored choice among investors.
