GOLD'S BEEN ON a tear lately. Its prices have kicked off the year with a bang, soaring past the ₹75,000 mark on the Multi Commodity Exchange of India Ltd (MCX) in April. This impressive surge, fuelled by a steady dollar, has been a global phenomenon, with gold surpassing the $2,400 mark in the international market in April.
Jateen Trivedi, VP of Research-Commodities and Currency at financial services provider LKP Securities, says, "The outlook for gold over the next five years remains bullish. Factors such as de-dollarisation and the increasing importance of gold as a hedge against inflation and economic instability suggest strong future performance. Gold prices could conservatively reach ₹1 lakh per 10 gm over the next five years."
However, the only potential dampener might be the strengthening of the Indian rupee, which could slow the pace of price increase in domestic markets. Nevertheless, the global factors favouring gold's rise are likely to outweigh this.
"Gold prices have been down for many years. In the recent months, it has started moving up. Whenever a commodity, which has been static for a long period, starts moving, it gathers momentum. That's what is happening with gold right now. The momentum is building, and who knows how high gold rates will go," veteran American investor Jim Rogers, founder of Rogers International Commodity Index, told Business Today TV recently.
HEAD-TO-HEAD
In 2024, the yellow metal has been a clear winner, outperforming both the benchmarks Nifty50 and the S&P Sensex by a significant margin. As of June 14, gold has surged 14.5% year-to-date, significantly outpacing the Nifty and Sensex, which gained only 8% and 6.6%, respectively.
Denne historien er fra July 07, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 07, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
