Gold Hits Lifetime High @ Rs.60,100

Published On: March 21, 2023 - After a year-long hiatus, gold is once again shining and shining bright. The prices of the precious metal touched a lifetime high of Rs 60,100 per 10 grams in New Delhi yesterday amid strong global trends, the festive season, and global volatility. Since achieving the feat, however, gold prices have corrected marginally and are currently trading around Rs 59,000 mark. Year-to-date, the yellow metal has surged about 8%, outpacing Nifty which has given negative 5% returns in 2023. With the US-to-Europe banking crisis already firing safe-haven buying on all cylinders, gold seems to have upward momentum on its side. But will the rally last and should you invest?