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In the year 2020, gold might touch Rs 44000!!
Posted on: 30/Dec/2019 9:55:27 AM
Many buy gold these days as an investment option because the returns are very high.
In the year 2019, gold touched 22% return is known. It is now said that the gold prices might touch Rs 44000 per 10 gm in 2020. We might also witness a bull run in gold in 2021 too.
It is amazing to mention here that in 2019 gold gave handsome returns of 18% in dollar terms and 22% in rupee terms. At the end of 2018, gold prices were around 1284 USD an ounce and towards the end of 2019 gold prices have been trading around the levels of 1515 USD.
At the end of 2018, gold was priced at Rs 32000 per 10 gram in India and now the gold prices are moving near Rs 38,800 levels. Mr Himanshu Gupta, VP and head of commodities and currencies research, Global Capital mentioned about how after many years gold is making huge returns and how in the year 2020 gold would sustain the momentum.
He highlighted that in the year 2020 the gold prices could move towards 1650 USD to 1700 USD per ounce in the international market. It must be noted that in rupee terms this could take gold to Rs 44000 per 10 gm levels. In 2019, gold has been having tremendous bull-run due to some macro-economic factors and in 2020 also this bull-run might not stop.
Important piece of information is bull-run could further strengthen in 2021 as prices could move towards its record high levels witnessed in the year 2012. In 2019, trade war between China and USA continued to build uncertainty around global economic growth.
For the year 2020, the IMF has made a downward revision of the global growth forecast as the IMF is of the view that trade war would impact the growth of key economies.
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