New Delhi, April 9 -- The Nifty 50-gold ratio, a key gauge used to track the relative performance of equities versus gold, has inched up to 1.57 from 1.5 last week, signalling a potential shift in market preference. A rising ratio typically indicates that equities may begin to outperform gold, as investors gradually move away from safe-haven assets and increase exposure to stocks.

The recent uptick in the ratio has been driven by a strong rally in equities, with the Nifty 50 gaining over 1,650 points in the first five sessions of April, while gold prices remained volatile amid strength in the U.S. dollar.

Historically, periods when the ratio has fallen below 2.5 have often been followed by a healthy upside in the benchmark index, sugges...