New Delhi: Many people buy gold as an asset. This purchasing of the precious metal increases during the wedding season. At present, something similar is being seen in the Indian market. According to some reports, 48 lakh marriages have taken place in India this year. In such a situation, a business worth Rs 6 lakh crore can be done through gold in the next one and a half months. In India, people of every class buy gold. But we have seen a lot of rise in the price of gold in recent times.
Meanwhile, the price of gold had crossed the level of Rs 80,000. However, at present the price of gold has become stable. In such a situation, the question arises what is the right time to buy gold?
What is the right time to buy gold?
According to Anuj Gupta, Currency Commodity Head of HDFC Security who spoke to Money9 regarding the right time to buy gold or its future price, the wedding season is about to come and during this time people should buy gold at the current price. Those who are not in a hurry to buy gold can wait for some more time. The price of gold may further decline in the coming times.
Anuj Gupta said, “Purchasing gold is necessary for weddings. Therefore, those who want to buy gold now can buy it since its price has fallen drastically in recent times. But those who still have time can wait for a few more days as the price of gold may decline soon.
The good returns of gold
If we take a look at the trend of the last few years, gold has emerged as a good asset class in terms of returns. In the last one year, Sensex has given a return of 20 per cent while the yellow metal has given a return of 30 per cent. If we talk about the last two years, while Sensex has given a return of 32 per cent, gold has given a return of 56 per cent to investors.
Fall in gold price
A huge fall in the price of gold was seen till Thursday, November 14. In Delhi, gold prices fell by Rs 700 to Rs 77,050 per 10 grams. There has also been a decline in the price of silver. On Thursday, silver also declined by Rs 2,310 to Rs 90,190 per kg. Whereas a day earlier i.e. on Wednesday its price was Rs 92,500 per kg.
According to some reports, 48 lakh marriages have taken place in India this year. In such a situation, a business worth Rs 6 lakh crore can be done through gold in the next one and a half months. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
