Gold & Silver Prices at Record High: Is it a Good Time to Invest?
Video Editor: Sandeep Suman
The prices of gold and silver rose considerably in August. The coinage metals hit a record high in six years. At present, gold is valued at Rs 38,000 per ten grams and silver at Rs 45,000 per kilogram.
As the prices of these metals are projected to rise in the near future, the question on investors’ mind is: Is it a good time to invest? Do we buy gold or sell it?
The Quint talks to commodity expert, Anuj Gupta from Angel Broking, who explains the several reasons contributing to the steady inflation of the prices of gold and silver.
When asked whether the metals’ prices will continue to hike in the future, Gupta answered in the affirmative, saying that the current geopolitical tension and trade wards will stretch given the manner in which the US-China trade war is escalating, along with the tax and the tariffs imposed. “There is no solution in the near future either, which is why there will be an inflation in the future,” he says.
The advice he has for investors regarding gold and silver is: Exercise caution, especially because gold and silver are at an all-time high. Thus, it will be safer to buy as needed. If investors have long-term investments in mind, the time is right to invest, since prices will keep hiking.
On asking whether investors who are incurring losses in the share market should invest in gold, Gupta said, “Share market and gold have an inverse relationship. If we talk numbers, where Nifty has clocked a loss of 6.5 percent gold has clocked a high of 10.5 percent. Even if we look at it historically, whenever there has been a dip in the share market gold prices have shot up. Gold has always been seen as a safe option.”
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