Below is the Views On Gold Performance by Mr. Prathamesh Mallya, AVP - Research Non Agri Commodities and Currencies, Angel Broking Ltd
“Gold had a remarkable performance in the first half of 2020 with around 17% returns in the US Dollar terms and the COVID-19 Pandemic is having a devastative effect on the performance of the global economy. There are talks of V shaped recovery shifting towards U shaped recovery or even a W shaped recovery, if the pandemic causes destruction in the form of a second wave of infections.
Whatever the scenario, one thing is for certain that the IMF is currently projecting a 4.9% contraction in global growth which certainly is a spoon feed for global investors to move towards safe haven. Gold has the potential for further double digit performance in the second half of 2020.”
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