Buy Gold on Dhanteras 2020: Even after giving around 29 per cent returns from Dhanteras to this Dhanteras last year, gold remains an attraction. Experts say that on Dhanteras this year, it seems better time to invest in gold. Gold can once again give 25 to 27 percent returns till Dhanteras next year. Global and domestic factors are with gold. As far as the price of gold is concerned, it has got a good discount from its record high. In such a situation, investors do not have to panic seeing prices above 50 thousand.
29% return from previous Dhanteras
Since last Dhanteras, till this Dhanteras in gold, investors have received about 29 percent returns. Last year, gold around Dhanteras was close to Rs 38900 per 10 grams. Today, gold is trading around Rs 50300. However, the good thing is that this year gold has come at a discount of around 6000 rupees from its record high.
In August this year, the gold price crossed Rs 56200 per 10 grams, which is an all-time high for this. Right now, gold is hovering around Rs 50300 per 10 grams. Expert says that around 50 thousand rupees can be invested in gold. It will once again surpass record highs in the coming days.
Why is it the best time to snuff gold
Anuj Gupta of Angel Broking says that the biggest technical factor behind gold is that there is still a concern about economies around the world. The US Federal Reserve is not ready to raise interest rates. It is clear from the US Fed commentary that the economy in America is not yet back on track. In such a situation, it is a positive gold factor.
The second big reason is the election of a new president in the US. Spending on relief works in America is bound to increase. This will affect the dollar, which is already at a 10-year low. Gold will get support due to weak dollar. With the arrival of Biden, there may be a change in the economic policies already in place in the country. There will also be some uncertainty.
The third big reason is that there are still uncertainties regarding Covid 19. In some cities of India, the corona cases are increasing rapidly once again. Lockdown has been imposed in some countries of Europe. In the US, the case is not under control. Cases may increase further as winters rise. Due to this, markets running at high valuation can break once again.
The domestic wedding season has arrived. Domestic demand for gold increases in this. Anyway, gold is known as safe-haven investment. For all these reasons, investors can invest in this Dhanteras gold.
Can get 27% return till next Dhanteras
Ajay Kedia, director of Kedia Advisory, says that gold has become quite high due to its high. You should invest around 50 thousand rupees per 10 grams. At the end of this year, gold can show a price of Rs 53000 and in the next one year, Rs 61000 per 10 grams. Anut Gupta has also set a target of Rs 60000 per 10 grams for the next year.