Gold proves its mettle against Sensex, price rises 2.6% in CY22

Gold's outperformance over equity has been even better in the international market, thanks largely to a big sell-off in equities in advanced economies such as the US and Western Europe

Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities — both in the domestic market and international markets.

Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD). The yellow metal had upended equities in CY20 as well.

Gold was trading at Rs 1.37 lakh per ounce (oz) on