Gold is generally considered a safe investment during economic and political uncertainties. Last year, when the global economic situation became dire due to the Covid-19 pandemic, investors rushed into the safety of gold which saw prices rise to multi-year highs. An all-time low Indian rupee and a hike in custom duty on gold have kept domestic prices somewhat in check from a steeper fall.
Budget over, bulls back faster, higher, stronger
The NSE Nifty rose 428.75 points, or 1.76%, to close at a record of 24,834.85. The index hit a lifetime high of 24,861.15 during the