Gram Gold Brought Profits to Its Investors In 2020

Gram Gold Brought Profits to Its Investors In 2020 Gram gold brought profits to its investors in 2020. Gram gold achieved its best earnings in the past 18 years in 2020. The precious metal gold, which investors always describe as a safe haven, pleased its investors in 2020. Yellow metal has achieved the highest gain in the last 18 years, with the increases it recorded during last year. In 2020, as a result of the appreciation of gold in global markets and the weakness of the Turkish lira against the dollar, gram gold gained more than 50 percent in value. This level was recorded as the highest earning level seen since 2002. The earnings that came closest to this level were recorded in 2002 as 42 percent. According to the calculations based on gram gold, ounce gold price and dollar / TL exchange rate in 2020, it reached the all-time high which was at the level of 540 TL. At the beginning of 2020, the price of gold per gram was 286 TL.   Coronavirus Pandemic Plays a Great Role in the Rise of Gold The year 2020 witnessed a pandemic that surrounded the whole world. The new type of coronavirus (Covid-19) detected in China in December 2019 spread all over the world in a few months, bringing many industries to a standstill. In the uncertain and pessimistic environment created by the pandemic, the markets turned to gold, which is defined as "safe harbor". As a result of the uncertainty, which is the return of the epidemic, ounce of gold saw the all-time high of $ 2,075 in August. In the period following this month, a lower declining trend started. However, on the other hand, ounce of gold in global markets made a premium of over 20 percent in 2020. It is spoken in the markets that gold, which gained momentum significantly in 2020, will pause its upward momentum in the coming period. In a note published by the investment bank Morgan Stanley on this issue, it was stated that gold prices will be suppressed with the economic recovery in 2021.