In the last few months commodities have been outperforming many assets, one of the most popular commodities includes Gold & Silver. Precious metals have been considered to be safe, hence they are termed as safe haven assets, you might be thinking what safety does Gold bring to an investor. Inflation is one such issue that currency cannot hedge against, meanwhile Gold is the asset which becomes a hedge against inflation and other economic uncertainties.
The most common question we hear these days is, “Should you buy Gold at this price ?”. Honestly there isn’t any specific right moment to buy Gold, you should be adding Gold to your portfolio whenever you get the opportunity to do so. This year has been surprisingly good for gold, however some investors were fearing a drop in pricing hence avoided Gold but instead it rallied up by the day. While some investors feared a price drop others expected it to rise even further which will in return book profit for themselves, out of the two kinds of investors the latter were correct in investing irrespective of where Gold could have ended, had they not invested in Gold they wouldn't have enjoyed the fruitful returns, even after investing at the surge pricing they had parked their funds in the safest commodity on the planet.
Currently Gold is hovering above $1,500 at COMEX which is being speculated to rally above $1,600 soon, this indicator will definitely affect the pricing during the upcomings occasions and wedding season. The most awaited festival in India this year will be Diwali as Gold is expected to rise over Rs. 42,000 per 10 Grams. Every year people splurge a huge amount on Gold during Diwali and Dhanteras due to the auspiciousness of the festival revolving around the metal Gold which is also a symbol for wealth.
If the question arises in your mind whether this is the right time to buy Gold you now know that it is always a good time to buy Gold. Hence it’s time for us to ask you “Have you made Gold a part of your portfolio yet ?”.
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