Utilise price corrections to buy gold; this safe haven's here to stay

If the Fed turns less aggressive, the yellow metal could stage a comeback

Gold
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Photo: Bloomberg

Sarbajeet K Sen
Gold has seen significant price erosion in recent months, especially in the international market. Investors may find this perplexing. With the equity markets also experiencing a downturn, gold would, in normal circumstances, be expected to act as a safe haven and protect the portfolio.

On April 19, gold was trading at around $1,950 per troy ounce. By July 27, it had declined to $1,723. It even slid below $1,700 briefly on July 20. Over the same period, the Dow Jones Industrial Average corrected from 35,160 to 31,874. The BSE Sensex slipped from a high of 60,611 on April 4 to 55,816

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First Published: Jul 28 2022 | 9:36 PM IST

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