The yellow metal has always been an essential commodity Countries across the world are battling severe pressure on their health systems, as well as the economy and, are preparing for a widespread impact as the coronavirus outbreak continues unabated. Talks of a global recession are becoming stronger and investors are scurrying for assets that will help protect their investments.
Gold is considered a safe-haven asset during times of financial and political uncertainty. Increasing uncertainty about the health of the global economy should boost safe-haven buying but the metal has been on a roller-coaster ride.
The metal price has tested 2002 highs but has so far failed to sustain above the $1,700 per troy ounce.
Gold price in Delhi has been seeing some momentum, since the start of the year. This is because, equity markets took a beating at the start of the year, which pushed investors to invest in safe-haven assets like gold. The precious metal may not be a favorite in the last few years, as prices have moved in a tight range. A fall in equity prices at the start of the year, saw some attraction to gold as an investment. We have given today’s gold rate in Delhi to those who wish to buy the precious metal.