gold had posted marginal gain on the back of concerns of a slowdown in economic growth. A major uptick was seen in prices of gold from mid-March when the COVID19 hit the stage at a global level.
In August gold had hit an all-time high of ₹56,200 on MCX."The outbreak of the pandemic and a spurt in the number of cases led to economic uncertainties.
The excess liquidity injected by global central banks to boost growth led to investors flocking to gold which is considered a safe haven," he said.But since August, gold has shed nearly 10% gains from their life high levels on optimism over covid vaccines.