Gold prices are increasing year after year. While last Diwali the price of gold was around Rs 61 thousand, this time on the occasion of Dhanteras and Diwali its price is around Rs 80 thousand. If seen, the price of gold this Diwali is about Rs 20 thousand more than last Diwali. This rise in gold prices is being seen due to the uncertainty created by the tension prevailing in the Gulf countries.
New Delhi. This time on the occasion of Diwali and Dhanteras, there is a tremendous rise in the prices of gold and silver, due to which there is disappointment among the people who want to buy gold jewelery and other items made of gold and silver on this occasion. On the occasion of Diwali in the year 2023, the price of 24 carat gold was around Rs 61000 but before this Diwali, gold is trending at its peak till now around Rs 800000 per ten grams. If seen, gold has increased by Rs 20 thousand per ten grams in one year. Although people are not able to digest this price, the truth is that the price of gold is trending at Rs 80 thousand only. In these circumstances, it is not easy for everyone to buy gold on the occasion of Diwali or Dhanteras. However, experts are hopeful that gold will not make any major jump on the occasion of Dhanteras or Diwali.
Why is gold becoming expensive?
Gold prices are making new records every day. Seeing this, the common consumer is assuming that soon the price of 24 carat gold will touch the figure of Rs 1 lakh per ten grams. But before making such speculations, it is important to know why the prices of gold are increasing. Has its demand increased or has there been a shortage of gold? If seen, we will find that due to the uncertainties prevailing in the Gulf, the central banks of many countries as well as investors have turned towards safe investments. Since gold is considered a safe investment, it is obvious that its demand has increased due to which its prices are continuously climbing upwards. Although Iran, Hezbollah, Houthi, Hamas as well as many other countries are also suspicious of the tension prevailing in the Gulf, but if this tension takes the shape of a major war then definitely gold will reach the level of Rs 1 lakh per ten grams. Can cross. If the circumstances improve or remain as they are at present, then a correction can be seen in the prices of gold, that is, the prices may come down a bit.
World gold consumption
If seen, the total consumption of gold in the world during the year 2023 was 4899 tonnes. Which is a record. The demand for gold is continuously increasing every year in the world, but the production of gold is not increasing in proportion to the demand, due to which its prices keep troubling the common customers and common investors. China and India lag behind in terms of highest consumption of gold. The total demand for gold in India in the year 2023 was a little more than 745 tonnes. Whereas in China the demand for gold during this period was 930 tonnes. Many times it also happens that India's demand for gold exceeds that of China. In India, gold is consumed mostly in the form of jewellery. Since the tradition of giving gold jewelery etc. at weddings in India has been going on since ancient times, hence its demand in the country is more than that of jewelery sector. Despite the increase in prices, the customer base has not decreased; whereas earlier there was more demand for 33 carat gold, now people get jewelery made in 18 carat gold.
How much return did gold give?
If we talk about safe investments, apart from gold, investments in debt funds and real estate are also included in the category of safe investments. If we talk about returns through safe investments, in the last two decades gold has given slightly higher returns than real estate and debt funds. While gold has given 12.8 percent return during two decades, real estate sector has given 8.4 percent return to investors and debt funds have given 7.4 percent return. In this way, it is natural for investors to move towards gold. On one hand, the returns were higher and on the other hand, the guarantee of security was also higher.
Investment options
Although the common Indian prefers to purchase gold physically, at present many options for investing in gold have emerged in the market. The country's central bank has introduced several series of sovereign funds to invest in gold. Apart from this, the number of people investing in gold through Gold ETF has also increased. People are also investing a lot in gold through the Digital Gold Scheme.
Invest wisely
If you are interested in investing in gold then you have to invest in it carefully. Never invest in it by getting trapped in any speculation or prediction, rather prepare an investment strategy considering your needs and pocket. Many times it happens that people buy gold on the advice of experts and later its price falls. Therefore, you have to be careful and avoid blindly trusting any advice. Also, never invest all the money in just one investment option.
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