Gold prices have surged after six years of staying dull or giving negative returns and missing out from investor portfolios as a consequence.

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The investment demand for gold in the past quarter was at a three-year low and the number was dismal and erratic in 2018 too.

While gold is bought for weddings, festivals and other important occasions in India, it is not as commonly purchased by households and investors outside of the country. From 2013 to 2018, gold had only two positive years as currencies and equities took all the attention.

But now with the global equity markets looking stretched and the world reeling under the threat of an economic slowdown, gold prices have made a smart recovery on strong fundamentals and even strong volumes.

Gold has been up 8 percent this month and in India it hit a record high at Rs 35,500 per 10 grams in spot market, inclusive of 3 percent GST while global gold prices are at a six-year high.