Gold vs Sensex vs Bitcoin: With over 62% returns, this asset class is leading returns in 2024 so far
gold would be laughing their way to the banks with the back-to-back lifetime highs in the yellow metal this week. Its returns in March and 2024 so far have surpassed those of the S&P BSE Sensex. However, Bitcoin (BTC) remained the showstopper with more than 11% weekly returns and 62% in 2024, so far.
After a lackluster February, gold has been hitting new lifetime highs in March. The gold contract on MCX scaled a new all-time high of Rs 66,356 per 10 grams on Friday. It has risen by Rs 3,529 or 5.64% so far in March over February and rose by Rs 3,118 or 4.93% in 2024 so far. In the international market, the new lifetime peak was $2,195 per troy ounce on the Comex.
In comparison, Sensex has delivered returns of 2.20% in March so far, rising by 1,619 points to end Thursday at 72,500. Its lifetime high was recorded at 74,245.17. On the YTD basis, the gains stand at 1,879 points or 2.60%.
On Friday, equity markets were closed while bullion markets were shut in the first half but resumed trade in the second session after 5 pm.
Bitcoin smashed a new lifetime high of Rs $70,085.85 on Friday before closing the session at $68,300.10. This crypto asset has appreciated by $7,101 or 11.60% in a week. Its YTD record is even more impressive with gains of 62.2% or a whopping $26,200 uptick. On December 29, BTC had ended at $42,099.40.
Gold and equity markets around the world have been rising on hopes of a rate cut by the Federal Reserve in June. The sentiment was further boosted after US economic data numbers reported a steady
