New Delhi, Sep 24
Gold has outperformed Indian equities for the fourth consecutive Diwali-to-Diwali cycle, continuing a trend where the yellow metal has outperformed equities in seven of the last eight years.
The price of 24-carat gold (1 gram) was at Rs 11,431 at 10.05 am, according to data published by the India Bullion and Jewellers Association (IBJA).
MCX gold has gained approximately 40 per cent since last Diwali, while the Nifty 50 rose around 5 per cent in the same timeframe. In 2024, Diwali-to-Diwali returns of gold was 32 per cent, compared to a 24 per cent rise in the Nifty. In 2023, gold rose by 21 per cent, while the benchmark index only advanced by 10 per cent.
On September 17, the spot prices touched an eye-watering $3,683 per troy ounce—an all-time high and up 43 per cent this year—before pulling back due to a stronger-than-anticipated Federal Reserve stance.