Gold Vs Stocks: Which investment performed better in 2024; Check HERE
Gold or Stocks: Which is the Better Investment?
Gold is often considered a reliable investment. This year, it has yielded substantial returns, outperforming even the well-performing stock market
2024 Gold and Stock Market Returns Comparison
From January 2024 to date, gold has returned 19%, while the Sensex has risen by 8.35%. Gold has thus delivered more than double the return of the stock market
Gold Price Surge in 2024
The price of 24-carat gold increased from ₹63,970 per 10 grams on January 1, 2024, to ₹77,590 on December 24, a surge of over 19%
Factors Driving Gold Price Increase
Several factors contributed to the rise in gold prices this year, including inflation and the US Fed's interest rate cuts
Significant Increase in Gold Demand
Gold prices also rose due to increased demand. The World Gold Council reports demand in India reached 700-750 tons in 2024
RBI's Gold Purchases
Central banks worldwide, including the RBI, purchased significant amounts of gold. The RBI bought 77 tons from January to October 2024
RBI's Gold Purchase Timeline
The RBI bought 5 times more gold in the first 10 months of 2024 than in 2023, followed by Turkey (72 tons) and Poland (69 tons)
Note
Consult a market expert before making any investment