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Golden era? Yellow metal may give up to 25% return till FY23

Apart from occasional decline, gold has been trading near its highest level and experts believe that the yellow metal will stay firm as weak global economic releases and fears of the economic recession continue to support its safe-haven appeal.

May 11, 2020 / 07:58 PM IST

While markets have been hit hard as COVID-19 has dealt a severe blow to the global economy, gold has been glittering due to its safe-haven appeal.

Apart from occasional decline, gold has been trading near its highest level and experts believe that the yellow metal will stay firm as weak global economic releases and fears of the economic recession continue to support its safe-haven appeal.

As per Reuters, gold eased back on May 8 from its highest in nearly two weeks, as investors grew hopeful about economies reopening after COVID-19 lockdowns, but a continued wave of central bank stimulus kept bullion on course for a weekly gain.

Historical data show, gold has outperformed other asset classes in 5 out of 10 calendar years, highlighting the importance of having the yellow metal as part of one’s portfolio.