Indian gold market is all set to welcome yet another climax in the Festival of lamps, during Dhanteras and Diwali, around the corner. Indian gold prices follow global trends always, while its demand were mainly driven by local factors such as festivals and marriage seasons.
The prices of Gold prices moved slowly on Thursday to extend losses from the earlier session as the US dollar balanced against the yen, but underlying demand for bullion was witnessed as strong ahead of festive season. The precious Gold 22 carat recovered to ended at Rs 29,893 per 10 gram in the market now.
With the current rally in the domestic equity market, gold becomes a good investment avenue. Over the long term, investing a part of savings in gold always brings good returns. simultaneously, it generates security against erosion of purchasing power to the exchange rate or inflation.
However, Gold delivered 15% returns compound annual growth rate over the last 15 years and after negative returns for 3 consecutive years, gold has set positive returns this year, adding up excitement of investors.
.jpg)
