In August 2020, gold touched its highest level of Rs 56,191.
From around Rs 46,500 in early July, gold prices are now nearing the Rs 49,000 mark.
However, when compared to record highs, the yellow metal is still trading cheaper by a few thousand rupees.
In 2020, stock investors flocked to bullion exchanges after the public markets crashed amid fears of COVID-19 driven economic downturn.
At one point in August 2020, gold touched its highest level of Rs 56,191.