Will gold make you rich?

Domestic gold futures soared to an all-time high of Rs 61,371 per 10 grams on April 13, 2023.

Gold crossed the Rs 60,000 per 10 grams mark for the first time ever only recently. It happened in mid-March 2023.

It took the precious metal merely days to cross the distance of the next Rs 1,000 on the upside.

Zee Business Managing Editor Anil Singhvi believes gold can help you make money, yes, but won't create big amounts of wealth for you.

Take the example of the period from 1979 (Sensex base year) to 2022, the index has grown more than 10 times vs gold. Sensex has given a return of 608x, and gold just 56x.

Well, wealth planner Basant Maheshwari believes no one becomes rich by investing in gold; people buy gold after becoming rich.

Gold gives dollar returns in the long term and the dollar appreciates around 3.5 percent every year, says Basant Maheshwari. So add inflation to how much the dollar appreciates and that's pretty much how much you will make in gold, according to him.

Many analysts still find gold as an attractive long-term investment bet. But that doesn't mean you chase gold with all guns blazing. According to market guru Anil Singhvi, one should not dedicate more than 10-15 per cent of the overall portfolio to gold.

Market wizard Anil Singhvi believes the time has come for Sensex to outperform gold in a big way.