Gold prices reached all-time high on 16 September. There was a boom in gold both in the country and abroad. Spot gold abroad rose 0.3 per cent to $ 3,688.41 an ounce. Gold futures were also at $ 3,726 an ounce with a strength of 0.2 per cent. Here, Gold in the Commodity Exchange MCX in India climbed 0.10 to Rs 1.10 lakh per 10 grams. Experts say that gold is going on a boom before the Monetary Policy of the Federal Reserve in the US.
Gold rapid trend for last several weeks
India Bullion and Jewelers Association (Ibja) Former National President Mohit Kamboj said, “Investors in indefinite times Gold Considering the investment safe for investment. ”He said that the cost of gold has increased due to weakness in the rupee against the dollar. Its impact has also seen on gold prices in India. Gold has continued to rise for the last several weeks. This has reached a new height. Gold has reached a new height. In April this year, Gold had set a new record of height. After that, there was a boom in the prices.
Gold is climbing in the hope of decreasing interest rate in America
Experts say that the meeting of the Monetary Policy of the US central bank Federal Reserve is going to start on 16 September. Its results will come on 17 September. Its results in India will be detected late on September 17. It is estimated that the Federal Reserve will reduce the interest rate by 0.25 per cent. Gold prices rose in an environment of interest reduction in interest rate. Investors invest in bullion for more returns. This affects its prices.
Profit booking can be seen in gold
Darshan Desai, CEO of aspect bullion and refinehari, said, “If the Federal Reserve reduces interest rates compared to expectation or its commentary remains aggressive, then the investors can be disappointed. Such gold can be used for shopping.” Experts say that since gold prices have climbed $ 250 an ounce in the last few weeks, in which it can show profit booking. In such a situation, prices will be soft.
What should you do?
Financial Advisors say that the invester’s portfolio should have gold stake from 10–15. This helps in diversification of portfolio. Especially retail investors should include gold in their portfolio. If your portfolio does not include gold or its share is low then you can invest in gold. Now it has become very easy to invest in gold. Gold ETF and Mutual Fund’s gold scheme can be invested at home. You can also invest in fixed amount gold every month from SIP.