Gold Price Today: FD, equity, debt… heavy gold on all, know how much return can be received this year – gold investments could return 11 percent in 2023 prices up over nine percent since January
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Gold has gained nine per cent since January this year. During this period Nifty 50 and Sensex have declined by two to three per cent. Managers and analysts say that gold prices are unlikely to fall anytime soon. But he says that the share of gold in your portfolio should not be more than 10 per cent. Lakshmi Iyer, Chief Executive Officer of Kotak Investment Advisors, said that my attitude towards gold is positive. But you should invest keeping the risk in mind. Gold cannot replace debt or equity. Both of these are financial asset classes and have their own place in your portfolio.
how far will the price go
Gold reached a new high in 2020 due to the Corona epidemic. The lockdown had created an atmosphere of uncertainty, with fears of a recession looming large and the US dollar depreciating. It was the perfect condition for the gold to shine. The Fed had reduced the interest rate to zero overnight due to the economic lockdown. Gold benefited from falling US bond yields and rising inflation. But the appeal of gold declined due to increase in interest rate. But due to the banking crisis and the fall in the price of the dollar, once again the shine of gold has started increasing.
According to Juerg Kiene, managing director and chief investment officer at Swiss Asia Capital, gold could go up to the level of $4,000 an ounce this year. He said that there will not be a 10-20 percent rise in gold, but there can be a huge jump in it. There are recession-like situations in many countries. Viral Shah, head brokerage at 360 ONe Wealth, said that the international market is yet to see a breakout rally. If gold sustains at $2,080 or $2,100 for a week or so, then it can move towards $2,200 level.
Gold and silver will make you rich this year, expect 20 and 30% returns, know where the prices will reach
Why is the brightness of gold increasing
Shah said that the price of gold domestically has not increased according to the international prices. If there is a 10 per cent jump in the price of gold at the international level, then its price in the country will increase by seven per cent. In this way, by the end of the year, its price can go up to Rs 67,000 to 68,000. Gold is the only asset that every central bank has. According to the World Gold Council, last year the Central Banks made a record purchase of gold. This has increased the luster of gold. Since the 2000s, gold has given eight to 10 percent returns annually. This is not the case in the bond market and equity. Naveen Mathur of Anand Rathi Shares & Stock Brokers said that in the next two-three months, the price of gold can reach Rs 62,500.
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