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Gold rallies 25% in H1 2020 to hit record high; can it cross Rs 50,000/10 g?

Experts feel coronavirus will remain a big trigger behind the investors' focus which has slowly been shifting from risky assets to risk free assets.

July 03, 2020 / 04:26 PM IST

Gold, the so-called safe haven, has seen tremendous demand globally as novel coronavirus hit economies hard and forced them to shut down for couple of months. As a result, monies or focus has been shifted to yellow metal from risky assets like equity.

The gold prices gained 25 percent in the domestic market in the first half of CY20, the highest since 2011, which was much better compared to equity markets. The BSE Sensex and Nifty50 rose over 15 percent in 1HCY20.

In fact, MCX Gold continued to rally for 7th consecutive month and the commodity hit an all-time high of Rs 48,982 per 10 gram.

Can the yellow metal cross Rs 50,000?