Don't jettison gold despite price correction to reap long-term benefits

Policies that support the yellow metal will remain in place in the foreseeable future

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The optimism on vaccines may not sustain as it is unlikely to become available to the public before mid-2021. | Photo: Reuters

Bindisha Sarang

3 min read Last Updated : Dec 01 2020 | 11:43 PM IST

Gold appears to have lost its sheen in recent months. The price of India standard gold on December 1 stood at Rs 48,397 per 10 gram, down Rs 7,504 from its peak of Rs 55,901 per 10 gram on August 7. It is down 5.8 per cent over the past three months.

Vaccine-related news causing correction

The yellow metal has got hammered primarily due to news flow indicating a Covid vaccine may become available earlier than expected.

Naveen Mathur, director of commodities and currencies, Anand Rathi Share & Stock Brokers, says, “Overall, people are anticipating the worst is over. Therefore,

Topics : Gold Gold Prices Investors Gold investment