Year-end perspective on Gold By Mr. Nish Bhatt, Millwood Kane International
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Below is Year-end perspective on Gold by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“ After two stellar years of returns, Gold prices underperformed most asset classes in CY21. Gold rose to all-time high levels in 2020 due to the uncertainties posed by the COVID19. The prices came off highs as countries started relaxing lockdown and re-opening for regular business activities. Inflows into equities meant a lot of funds flowing out of Gold ETFs.
Internationally, gold prices have corrected around 5% in 2021. In India, the price of MCX Gold has corrected over 6% YTD. The correction has been steeper in India as the INR has depreciated against the dollar. Gold is an international commodity and the movement of USD impacts its price.
Gold attracts investment in a low-interest rate regime, the current rising interest rate scenario will continue to put pressure on the yellow metal. Interest rates, inflation, and the manner in which countries control the new variant will guide gold prices for a good part of 2022.”
Above views are of the author and not of the website kindly read disclaimer
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