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Business News » Personal Finance News

Gold price to touch Rs 37,000! Here's why you should buy before Diwali

Gold is trading around Rs 32,100. Why is this important for investors? 

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Gold price to touch Rs 37,000! Here's why you should buy before Diwali
The festival season has started and and investment in gold ought to be on your to-do list in any case. Reuters
Written By: Akash Sinha
Updated: Tue, Oct 16, 2018
06:41 pm
ZeeBiz WebDesk
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Gold prices touched a two-year high of Rs 32,311 on Monday. It had previously reached this figure in July, 2016. The precious metal is trading around Rs 32,100. Why is this important for investors? Well, markets are extremely volatile and on a daily basis they are increasing worries of investors as the shares yo-yo in an extreme manner. In this scenario, investors should ideally be looking to hedge against losses and the best way to do that is to go for gold. 

So, is this really a good time to invest in gold considering that rates are rising? Well, market experts think that by this time you should have made an investment into the yellow metal. However, if you haven't done so yet, then you should do it now. 

Better late than Never

"Gold prices are trading around Rs 32,142. We expect it to rise to Rs 33,500 to Rs 34,500 in the next six months. However, the prices may well cross Rs 37,000 till next Diwali," Anuj Gupta, Deputy Vice President - Research (Commodities and Currencies), Angel Broking Limited told ZeeBiz.com.

The festival season has started and and investment in gold ought to be on your to-do list in any case. Remember, the choice, ideally should not be jewellery as its price also contains making charges. And what should you buy then? Check this out:    
 
Gold ETF vs Gold Bonds vs Physical Gold

Many of you must have been wondering whether to invest in physical gold or Gold ETF or Sovereign Gold Bonds. Gupta said that since the movement in gold prices reflect across all the gold-linked products, you can invest in any of these.

"Any form of gold like bonds, ETF, or Physical - all are shining today as the yellow metal has breached 32,000 on MCX after July, 2016. Virtual instruments like bonds and ETF are moved in tandem with physical gold. There may be some expense ratio kind of charges, but the price trend of the instruments moves together," said Gupta.

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What this means is that you should jump on this gold bus before it leaves without you from the station.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
gold
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Gold Price Today 04-03-2021: EXCLUSIVE! Yellow metal may slide below Rs 44,000; check this money making idea Gold Price Today 04-03-2021: EXCLUSIVE! Yellow metal may slide below Rs 44,000; check this money making idea
Gold Price Today 4-03-2021 – MCX Gold opens in red, falls by Rs 735 since Wednesday; cheaper by Rs 5203 in 2021 Gold Price Today 4-03-2021 – MCX Gold opens in red, falls by Rs 735 since Wednesday; cheaper by Rs 5203 in 2021
Gold price today and much more: Consolidation likely in Rs 45200- Rs 46200 levels - Latest updates by ICICI Securities Gold price today and much more: Consolidation likely in Rs 45200- Rs 46200 levels - Latest updates by ICICI Securities

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