Independence Day 2021: The country is celebrating its 75th day today. Did you know, gold has jumped 54 thousand times in the last 75 years. In the pre-independence era, 10 grams of gold was priced at Rs 88.62 which crossed 48,000 today. According to experts, gold investors have made better profits compared to investments in equity and bonds. Especially since 2008, there has been a rise in gold prices.
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Get back on gold in the last 75 years
On the return on gold investment, Anuj Gupta, vice president of commodity and currency trading at IIFL Securities, says, “Indians have been a major investor in gold since the beginning of independence. During the recession of 2008, people realized that investing in gold was beneficial, when only equity and bonds showed negative growth, and gold alone did not change prices. This is because of the rise in prices and today gold is being sold in the retail market at over Rs 48,000 per ten grams.
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Anuj Gupta says that people who invest in gold should always keep in mind that the return on investment comes only when the time is up. According to them, if you invest in gold from 9 to 10, then imagine that you get a 10% return on gold. He also suggested that ETF and Gold Bond options should be considered in addition to physical gold.
What will the next 5 years look like?
According to Diego Parilla, manager of Spain’s Quadriga Ignio Fund, the gold price may be $ 3000 to $ 5000 per ounce over the next three to five years. If you look at this in Indian Rupees, the prices can be anywhere between Rs 78,000 to Rs 1,31,00. In 2016 Diego Parilla predicted gold would be at its record high in 5 years. And last year his assumption proved correct.
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In addition, many Indian experts believe that gold will continue to make profits until the economy is fully back on track. Similarly, if the third wave does not come, then there is no greater rise in expected gold.