Gold Recession fears due to prolonged lockdown

Even during the pandemic people consider gold as the safest investment during periods of economic and political uncertainty. It has gained consistently amid pandemic because of its safe-haven appeal.

While concerns over the near-term global growth outlook rush investors into the safety of gold.

Gold prices were driven higher using fiscal measures such as cutting rates and quantitative easing. Many policymakers and the Central Banks across the world have come up with several stimulus programs to support the economic slowdown caused by prolonged lockdowns. This has, in turn, led investors to continue investing in gold.

It has been predicted by Global agencies like the International Monetary Fund (IMF) predict that there can be possibilities of a global recession.

As per the IMF, the global economy will shrink by 3 per cent in 2020 due to the negative economic impact of the coronavirus. However, the agency forecasts a slight recovery in 2021.

It is expected that the outbreak of COVID-19 and the health crisis will be much more damaging to the global economy while it caused massive selloffs in all the financial and commodity markets last month.


Recent Posts

Bajaj Auto becomes the highest-selling motorcycle maker for November

Bajaj Auto released an official statement on Thursday announcing that it has sold about 3.38…

4 hours ago

HUL gets rid of coal usage across all operations, opts green alternatives

FMCG major Hindustan Unilever Ltd (HUL) announced in its release that it has “eliminated coal…

4 hours ago

Oyo appoints ex-chairman of SBI Rajnish Kumar as Strategic Group Advisor

Hospitality unicorn Oyo Hotels and Homes (Oyo) on Thursday announced that it has appointed former…

4 hours ago

IREDA has plans to promote Green energy stability in India, signs an MOU with North-Eastern Fertilizer company

With a big boost to India’s renewable energy generation and related investment, Indian Renewable Energy…

4 hours ago

National Pollution Control Day: The heaven and hell we have made on Earth

National Pollution Control Day, there is a greater significance for this day especially, when the…

16 hours ago

Are Online Courses (MOOCs) Actually Helpful For You?

People who want to learn new things and improve their talents should always seek a…

17 hours ago