The market pundits believe that investors must keep at least 10 per cent of gold in their portfolio. Especially at a time when there are so much uncertainty and volatility in the financial markets.
Indian Religious Festival Happy Dhanteras. (Photo: iStock)
Ahead of the new Samvat, market experts suggest investors make new purchase of gold to mark the auspicious day of Dhanteras and positive growth in the coming year.
Gold can not only help portfolio diversification, but it could also yield some massive gains in the coming year, media reports stated. The yellow metal is expected to rise to Rs 41,000-41,500 per 10 gm level by Diwali 2020.
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On Friday, gold traded flat at Rs 38,319, but up 20 per cent since last Diwali.
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The market pundits believe that investors must keep at least 10 per cent of gold in their portfolio. Especially at a time when there are so much uncertainty and volatility in the financial markets.
Market sentiments remained low in the Zaveri Bazaar ahead of Dhanteras.
The last one year, witnessed a rally in gold prices led by the tensions created by the US-China trade war. The prices were also supported by a depreciating rupee, which fell 1.4 per cent against the greenback.
Experts believe that surpassing the trade war tension could result in some price correction, but as long as Gold maintains its Rs 35,000 level, the price is expected to move higher and reach previous highs of Rs 39,500 followed by Rs 41,500 by Diwali 2020.
(With input from agencies)
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