Experts believe gold prices will remain firm in 2023, with recovering demand from jewellery and central banks
Ask someone which asset class had a positive return in 2022 and the chances of getting a blank stare are high.
In a year when bonds and equities saw a synchronous fall, real estate was stagnant at best and cryptos saw a washout, few would realise that gold has given a positive return in 2022.
Since the start of 2022, rupee prices for gold are up 8 percent. With this, it has done what it is meant to do—provide a hedge to a portfolio. “Even in dollar terms, it is down 5 percent but when compared to equities, it has outperformed,” says Vikram Dhawan, head-commodities, Nippon India Mutual Fund.
(This story appears in the 30 December, 2022 issue of Forbes India. To visit our Archives, click here.)