Gold Expected To Sustain Glitter, Says ICICI Direct 
A worker checks gold granules at the ABC Refinery smelter in Sydney, New South Wales, Australia (Photographer David Gray/Bloomberg)

Gold Expected To Sustain Glitter, Says ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

The calendar year 2020 has been an unprecedented year for most commodities on account of Covid-19 related uncertainties.

While commodity prices did witness a downward slide in January-March 2020, the same saw a smart recovery during the remaining part of the calendar year.

The yellow metal, gold, was no exception and saw its own share of both peaks, troughs during the year.

In CY20, yellow metal prices plunged to a seven-month low in March 2020 and then witnessed a sharp rally rebounding to all-time highs during the latter part of the year.

Uncertainty in global markets owing to spread of Coronavirus in Q1, Q2 of CY20 led to investors resorting to risk aversion, which fuelled the rally in gold prices to all-time highs of 2067 U.S. dollar per ounce.

Click on the attachment to read the full report:

ICICI Direct Gold Outlook.pdf

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