Dhanteras 2024: Gold remains a trusted hedge in inflationary times, say analysts
Motilal Oswal has set targets for gold of ₹81,000 in the medium term and ₹86,000 in the long term.
Motilal Oswal has set targets for gold of ₹81,000 in the medium term and ₹86,000 in the long term.
Given the skyrocketing gold prices, analysts recommend investors to accumulate yellow metal in smaller denominations this festive season.
Analysts expect the gold prices to further touch ₹67,450-$67,900.
Rise in income levels and economic uncertainties to aid consumption of yellow metal.
The gold price touched a lifetime high of ₹61,095 per 10 grams in the domestic market on March 31, 2023.
While gold prices will benefit from moderation in rate hikes as inflationary pressures subside, experts still see downward risks.
Net AUM under Gold ETF stood at ₹19,280 crore in March and ₹20,430 crore in April 2022, depicting an increase in investments by the investors. The global demand has been sturdy too.
The BSE Sensex and the NSE Nifty are set to open sharply lower on Tuesday, following sell-off in Asian markets amid looming fear of war in Ukraine.
Investing in precious metals can hedge your portfolio as world markets go on a roller-coaster ride due to Covid-19.