NEW DELHI, Jan. 15 -- Gold was the best performing asset class of 2020, delivering a return of around 27% compared to 16% by Sensex. The high returns were said to have come primarily on the back of covid-19-induced uncertainty. However, as major economies across the world gear up to administer the covid-19 vaccine building up the hope that normalcy will return soon, the price of the yellow metal has come under pressure.
Gold has corrected around 9% from its peak of '55,922 per 10 grams in August 2020 to currently at around '51,375 per 10 grams.
Even before the discovery of the vaccine, economic data across the world showed better- than-anticipated recovery. The International Monetary Fund (IMF) had revised its global GDP forecast to -4.4%...