Experts believe that this is the right time to invest in gold, because gold is still very cheap, but as the circumstances are changing, it can be seen a more rapid trend in the coming time.
Investment in Gold
Gold has been a traditional investment for every Indian, but in the last few years, new forms like digital gold, bonds have opened up more new opportunities for investors. The government also issues sovereign gold bonds from time to time to encourage investment in it. But this year has been very volatile for gold. Last year, the price of gold became cheaper by about 9000 rupees after going to the peak during Corona. But now slowly, the process of rapid progress has started showing. So is this the time to invest in gold? Let’s know.
Talking about Delhi Bullion Market, on Friday, the price of gold jumped by Rs 119 to Rs 47,995 per 10 grams. At the same time, gold had closed at Rs 47,876 per 10 grams in the previous trading session. Whereas in the first phase of Corona, gold prices had crossed 56000. Meaning it is still much cheaper than its peak.
What do you know
Experts believe that this is the right time to invest in gold, because gold is still very cheap, but as the circumstances are changing, it can be seen in the coming times. Anuj Gupta, Vice President (Research), IIFL Securities, says that by Diwali, the price of gold can cross Rs 55000 per ten grams. In such a situation, it may be right to invest in gold for a long period of time.
Gold can cross the level of 56000
According to a report by Motilal Oswal Investment Service, gold can set new records this year, like last year. Motilal Oswal has expressed hope in his report that gold can cross the record level of 56000 this year. In fact, the last time when Corona cases started increasing, then the prices of gold started increasing. Now in the second phase, as the cases of infection are increasing, the effect is also being seen on its price.
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