Gold outshines market in March quarter
Gold outshone the broader markets across the world in the first quarter of calendar year 2016, on rising haven buying from investors and consumers alike. It rose 17 per cent in dollar terms, best in almost three decades and much more than major stock, bond or commodity indices. “We believe market uncertainty and expansionary monetary policies will continue to support both investment and central bank demand. This, combined with an analysis of previous bull-bear cycles, suggests we might be entering a new bull market for gold,” said the World Gold Council (WGC), market development body for the industry.
Gold’s price also increased in the major trading currencies, up 11 per cent, 20 per cent and nine per cent in euro, pound and the yen, respectively. And, 16 per cent in renminbi and rupee terms, beside 12 per cent in the Turkish lira. Gold also outperformed other asset classes, including major equity indices (some of which posted outright declines), investment grade and high yield bonds, as well as the commodities complex, including oil.
Courtesy: Business Standard