Can rising Covid cases, lockdowns bring back lustre to gold prices?

The yellow metal lost sheen as investors shifted out of this safe-haven asset to more lucrative investment options, such as cyclical stocks

The recent resurgence in Covid-19 cases and sporadic lockdowns across the globe might do little to add the lost sheen in gold prices due to the aggressive vaccination programme and the bleak possibility of a prolonged lockdown in emerging market countries like India, said analysts.

However, on a long-term basis, they are quite bullish on the prospects of the yellow metal and believe a 20 per cent correction in the prices from here makes it a good buying opportunity.

Gold prices have skidded 24 per cent, from an all-time high of Rs 56,018 per 10 gram scaled in