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.
Bu hikaye Business Today India dergisinin July 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today India dergisinin July 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
RECIPE FOR GROWTH
Union Budget 2025-26 is expected to lay the blueprint for the Narendra Modi government's third term. But how will Finance Minister Nirmala Sitharaman deliver growth in the face of a slowing economy, global uncertainty, high inflation and tepid private investments?
"Do what's best for employees"
BEST ADVICE - PANKAJ JATHAR | CEO | NIIT LTD
Your Palate for 2025
What's in store for you in the New Year when you go out for a meal or a drink? We ask industry experts to predict F&B trends for 2025
"RBI'S STANCE SHOULD BE TO KEEP THE RUPEE MORE VOLATILE"
Axis Bank Chief Economist Neelkanth Mishra talks about the rupee, quantitative easing, the Trump impact, and more
"We should strive towards two non-zero GST rates"
Arvind Panagariya, Chairman of the 16th Finance Commission, on further reforms in the economy, the Nehruvian era and its impact on policymaking, cash transfers, and more
A GENERATION MAROONED
This generation is creating new grammar for social and professional existence. They are reimagining the very concept of work, identity, and social belonging
A TIME OF UNCERTAINTY AND OPPORTUNITY
A look at the key trends that will redefine how content will be created, distributed, and consumed
Consciousness Shaping Consumption
India has a dynamic and discerning consumer base, whose consumption pattern is experiencing a significant transformation
THE NIFTY ELEPHANTS
The composition of the Nifty 50 index has undergone notable changes in the past 30 years, with only 11 companies consistently remaining in the index. It is expected to undergo further changes in 2025 with the entry of new-age companies like Zomato
REDEFINING THE DIGITAL AGE
For Bitcoin, its future lies not as a currency but as a cornerstone of the modern financial ecosystem
