Why is gold going up?
Gold has been one of the most traditional forms of investment. Before we knew about fixed deposits or stock markets or mutual funds, buying gold was one of the preferred means of investing.
In India, gold has always had relevance since it was used during weddings and festivals as a sign of opulence. Over the years, investing in gold has evolved as an ideal hedge for volatile markets primarily due to the scarcity of the metal.
In recent months, gold prices have been on a constant rise. And after the crash in March due to the lockdown, they have managed to surge and cross the 50,000 mark in July 2020.
Read more on Groww: https://groww.in/blog/why-is-gold-price-rising-factors-that-influence-gold-prices/
