5 Minutes Read
Gold prices surge: This expert thinks rates may rise up to ₹1.68 lakh per 10 grams by 2030
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
The surge in gold prices finds its roots in a confluence of factors, ranging from geopolitical tensions to global economic slowdowns.
Gold has witnessed a significant surge in its value lately. The precious metal soared by over 13% in the initial quarter of 2024, solidifying its position as one of the top-performing asset classes.
Looking forward, industry experts are bullish on gold.
In a recent conversation with CNBC Awaaz, Mahendra Luniya, Chairman of Vighnaharta Gold, projected that gold rates may reach ₹1.68 lakh per 10 grams by the year 2030.
The surge in gold prices finds its roots in a confluence of factors, ranging from geopolitical tensions to global economic slowdowns.
Central bank purchases, inflationary pressures, heightened retail demand, increased interest through Exchange-Traded Funds (ETFs), stagnant gold mining production since 2016, and the ramifications of de-dollarisation have all contributed to the rise in gold’s value.
The question then arises: where should one allocate investments?
Experts caution against waiting for a price correction, as the volatile nature of the market offers no guarantees of a downward trend.
Instead, they advocate for a strategic approach that capitalises on gold’s inherent qualities.
Gold serves as a reliable hedge against inflation and acts as a diversification tool within investment portfolios.
Therefore, experts suggest that investors carefully evaluate their portfolios and consider dedicating a portion, typically around 10% or less, to gold.
In this regard, Sovereign Gold Bonds (SGBs) emerge as an attractive option.
These bonds offer a sense of security against market uncertainties and facilitate portfolio diversification.
Given the promising outlook for gold prices, experts say purchasing gold is a prudent move for the next 4-5 years.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
