Why gold is the new safe haven for many

Watch this video to know how the pandemic lighted gold's glitter?

  • Money9
  • Updated On - November 9, 2021 / 04:15 PM IST
Why gold is the new safe haven for many
This rising demand is not just constrained to metros. People's trust in gold remains intact in smaller cities as well.

As the pandemic eases out, more and more people are turning towards safe investments like gold. According to data from the World Gold Council (WGC), the demand for gold in the September quarter stood at 139.1 tonnes, which was 47% higher than the previous year.

This rising demand is not just limited to metros. People’s trust in gold remains intact in smaller cities as well. The surge in demand for gold is more than 20% in smaller cities, as per Justdial’s latest consumer insights report.

On the other hand, gold traders are happy after a gap of two years, with a revival of cheer in the market. But the question remains, why are people investing in gold, despite a fall in income and shrinking consumption.

Watch this video to know how the pandemic lighted gold’s glitter?

(Follow Money9 for latest Personal finance videos and podcasts)