Gold unstoppable! Should you buy at current highs or wait for correction?

Date:

Share post:

The price of gold has increased by close to 8% since the beginning of the year, making it the best-performing asset class compared to all others. Investors are required to wait for a correction in the price of yellow metal before they can begin buying again because the prices have remained inflated. In the event that the Federal Reserve decides to raise interest rates instead of taking a break from them, gold prices are likely to fall, making the precious metal an attractive investment opportunity. However, the verdict is still out on this question.

According to Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, “any correction between 3% and 5% in domestic gold prices is a good opportunity for buying.” This quote was given to ETMarkets. He went on to say that over the past five years, the domestic market for gold has generated an annual return of 13% on average.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

spot_img

Related articles

The Revolutionary Impact of ChatGPT: Transforming the World in 2023

Discover how ChatGPT, powered by the GPT-3.5 architecture, is set to revolutionize the world in 2023. From customer support to education, research, creativity, and mental health, explore the far-reaching impact of ChatGPT in this game-changing article.

Cabinet approves National Quantum Mission for India

On Wednesday, the Union Cabinet, which is presided over by Prime Minister Narendra Modi, gave its approval to...

Due to a mistaken warning in the cockpit, a SpiceJet flight that was supposed to depart for Srinagar instead returned to the Delhi airport.

According to the airline, a Delhi-Srinagar flight operated by SpiceJet had to make an emergency landing at the...

Despite a flurry of withdrawals and Reliance’s investment, Nykaa stock has remained at a record low of 5%. When can we expect.

During trading on Tuesday, shares of FSN E-Commerce Ventures (Nykaa) dropped by 5 percent, reaching a new record low despite the high amount of transactions. On the BSE, the share price dropped to a low of Rs 133.50, representing a decrease of 4.81 percent. On the BSE, a total of 7.38 Nykaa shares have been traded so far, which compares to an average of 4.25 lakh shares traded every two weeks.