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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
Anuj Gupta recommends staggered gold investment for long-term gains
«Gold demand is not coming only from the individual. Even we have seen lots of central banks increasing their gold holdings. So, the demand is the main reason that gold prices are increasing in last almost five years,» says Anuj Gupta, HDFC Securities.
My grandmother used to say, buy gold, do not ever sell gold. It is coming out so true. Gold is up 15x in last 20 years. Why is gold prices moving the way it is moving?
Anuj Gupta: See, the demand is the only concern is the main reason that gold prices increased sharply. And also, the uncertainty in the global market. In last five years, in COVID or after the COVID, we saw a huge jump in gold prices due to the demand because now investors are taking gold as an investment, not as a jewellery, so we saw a huge demand in gold bar, in gold coins, the demand is increasing.
But if you see that the demand is also coming in the gold due to the uncertainty mahaul and also, we have seen that due to the correction in dollar index now central banks is also buying gold.
So, gold demand is not coming only from the individual. Even we have seen lots of central banks increasing their gold holdings. So, the demand is the main reason that gold prices are increasing in last almost five years.
Everyone is questioning where further from this one lakh mark and will the rally hold or do you think it is close to topping out at least in the near term?
Anuj Gupta: See, silver already touched one lakh, but gold is still on MCX is trading around 88,350 and on spot market internationally it is
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