MCX gold rate rises 21% in 2024, outpacing major Indian stock indices

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In 2024, the MCX gold rate increased by about 21%, significantly outperforming major Indian stock indices. The Nifty 50 rose 8.5%, the Sensex gained 8%, and the Bank Nifty only increased by 5.25%. Key factors driving gold's performance include anticipated US Federal Reserve rate cuts, ongoing geopolitical tensions, and strong central bank gold purchases. Additionally, rising investment demand for gold-backed ETFs has contributed to the price surge. Gold's appeal as a safe-haven asset has strengthened amid economic uncertainties, including escalating trade tensions. This trend positions gold as a preferred investment compared to equities in 2024.


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MCX gold rate rises 21% in 2024, outpacing major Indian stock indices | News Minimalist