The price of gold has increased by close to 8% since the beginning of the year, making it the best-performing asset class compared to all others. Investors are required to wait for a correction in the price of yellow metal before they can begin buying again because the prices have remained inflated. In the event that the Federal Reserve decides to raise interest rates instead of taking a break from them, gold prices are likely to fall, making the precious metal an attractive investment opportunity. However, the verdict is still out on this question.
According to Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, “any correction between 3% and 5% in domestic gold prices is a good opportunity for buying.” This quote was given to ETMarkets. He went on to say that over the past five years, the domestic market for gold has generated an annual return of 13% on average.
