Gold, Silver Return: There is a tradition of buying gold on Diwali or Dhanteras. Many people buy gold or silver these days for investment. Gold and silver are considered safe asset class for long term returns anyway. Talking about the last 2 years, both the asset class have seen great boom. If you are buying gold on Diwali or Dhanteras, then one should know how much gold or silver has given in the last few years from Diwali to Diwali. Talking about the previous Diwali before this Diwali, this year is second in terms of returns in gold and silver. After 2011, both the asset class have given the best returns this year.
Gold: Diwali to Diwali, last 10 years returns
Debt closing change in percent
October 26, 2011 Rs 27,570 Rs 7,599 38%
13 November 2012 31719 Rs 4149 Rs 15%
3 November 2013 29871 Rs-1848 Rs -5.83%
23 October 2014 27125 Rs-2746 Rs-9.19%
11 November 2015 25490 Rs-1653 Rs -6.03%
30 October 2016 Rs 30057 Rs 4567 Rs 17.92%
October 19, 2017 29679 Rs-378 Rs-1.26%
7 November 2018 31589 Rs 1910 Rs 6.44%
October 27, 2019 39293 Rs 6704 Rs 21.22%
30 October 2020 * Rs.50699 Rs.12406 Rs.32.40%
Silver: Return of 10 years in Diwali, Diwali
Debt closing change in percent
October 26, 2011 Rs 55,711 Rs 16,345 Rs 41.52%
13 November 2012 60804 Rs 5093 Rs 9.14%
3 November 2013 48732 Rs-12072 Rs-19.85%
October 23, 2014 38055 Rs-10677 Rs-21.91%
11 November 2015 34197 Rs-3858 Rs -10.14%
30 October 2016 Rs 43459 Rs 8262 Rs 24.16%
October 19, 2017 Rs 39846 Rs-2613 Rs-6.15%
7 November 2018 38257 Rs-1589 Rs-3.99%
October 27, 2019 Rs 46941 Rs 8684 Rs 22.70%
30 October 2020 * 60865 Rs 13924 Rs 29.66%
(source: Kedia advisory)
Will it be faster even after Diwali
Anuj Gupta, deputy vice president, research (commodity and currency), Angel Broking, says that gold is trading at a discount of around Rs 5500 from its record high. Recently, there was a pressure on gold power which was due to the boom in the equity market. However, now the factor is in favor of gold again. The second wave of Covid has arrived in Europe.
In India too, cases have increased in many cities. Second, the election in America is a big factor. After becoming president, the expenditure on the relief package is expected to increase. There Kai also becomes President, will spend more on relief work. This may weaken the dollar further in the coming days and gold will get support. The valuation of the equity market has also increased. At the same time, shopping is expected to return in the coming days in the wedding season. They believe that gold should be bought at the current price. Further gold will touch your record level again.