If you have any doubt about the rise in gold prices, then you need to look into the report of Goldman Sachs. This American investment bank has said that Gold will reach $ 4500 an ounce by the end of this year. In rupees, it sits around Rs 1.38 lakh per 10 grams. This means that by the end of this year, gold will cross one lakh rupees. The reason for this boom in gold is the increasing trade war between the US and China. Apart from this, the American Economy is being told to enter the recession by the end of this year.
Gold price reached $ 3,245 last week
Goldman Sachs said that Gold will go to $ 3,700 an ounce by the end of this year. Earlier, he increased the target of gold to $ 3,300 an ounce in March. However, he has said that if the conflict between China and America increases, it will reach $ 4500 an ounce. Last week, Gold set a new record of height. It reached $ 3,245 an ounce. Along with physical gold, there is a strong demand for gold ETF.
Gold returns so far this year so far
Gold gave a return of about 30 per cent last year. This year, it has given 20 percent return so far. Whenever there is upheaval in the world, the demand for gold increases. For the last few years, the central banks of many countries of the world have been increasing investment in gold, causing its prices to rise. The price of gold in the Commodity Exchange MCX in India has crossed 93,000 per 10 grams.
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What should you do?
If your portfolio does not include gold, then you should start investing in gold. You can start investing in Gold Mutual Fund or Gold ETF. This work can be done at home. A demat account is necessary for investment in Gold ETF, but demat is not necessary for investment in the gold scheme of mutual funds. Experts say that investors can include 10-15 percent gold in their investment portfolio.