You can use gold as a financial instrument to diversify your portfolio into hedging against uncertainties in the market, but for ambitious returns, you must explore opportunities in other asset classes such as equities, debts and real estate, says Adhil Shetty, CEO, BankBazaar.com.
'Expenditure on gold jewellery in Kerala is the highest in the country.' 'But the robust demand has been affected by the floods.'
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Extending gains for the third day, gold prices rose by Rs 300 to Rs 30,700 per ten gram in the national capital today on sustained buying by stockists for the ongoing marriage season amid a firming global trend.
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Traders said stockists buying for the marriage season amid a firm global trend mainly led the recovery in gold prices.
On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 15 each to Rs 30,050 and Rs 29,850 per ten gram, respectively.
A WGC survey says that there is no dearth of gold demand, but there is lack of trust among prospective gold buyers, not only in India but globally.
Key to Modi's plan will be the interest rates offered for gold deposits.
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With gold prices tumbling, retailers are witnessing a surge in demand and expect up to 50 per cent spike in sales volume during this marriage season.
The worsening demand for jewellery has already started impacting jobs and karigars or goldsmiths.
On the domestic front, gold of 99.9 and 99.5 per cent purity shed Rs 30 each to Rs 30,700 and Rs 30,500 per 10 grams, respectively. It had lost Rs 330 in last two trades.
The most compelling reason for putting money in gold is its role as a long-term or strategic asset.
Gold in New York, which normally sets price trend on the domestic front, traded marginally up 0.07 per cent to $1,291.80 an ounce.
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Traders said the precious metals remained in demand for the ongoing festivals and marriage season, while silver rose on industrial units and coin makers demand.
Gold in London, which normally sets price trend in the domestic markets, rose by 0.1 per cent to $1,313.42 an ounce on speculation the US Federal Reserve may further cut monetary stimulus, raised demand for the metal as a safe haven.
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Silver also rose further by Rs 100 to Rs 37,600 per kg.
However, silver remained under selling pressure for the sixth straight session and shed Rs 30 to Rs 43,470 per kg.
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Gold prices surged by Rs 650 to Rs 31,200 per ten gram on heavy purchases by stockists and retailers for the marriage season and approaching 'Diwali' festival.
Gold import in the December quarter is estimated to come down.
Gold gained Rs 50 and touched a new peak of Rs 16,850 per 10 gram.
Your mother gave you those ancestral bangles at the time of your marriage as streedhan. Now you want to sell it. Then be ready to shell out capital gains tax.
The women's commission in Kerala is seeking to limit the amount of gold given at weddings to no more than 80 grams to reduce the burden on families and help ease India's trade deficit.
Traders said brisk buying by stockists and jewellery fabricators to meet the rising festive and wedding demand mainly led an upsurge in gold and silver prices.
Traders said emergence of buying at existing lower levels to meet the ongoing marriage season demand mainly led to recovery in gold prices.
Look at gold bonds or gold monetisation scheme instead of buying physical gold
The wedding season will continue till early January and gold is an important gift item at marriages.
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Silver, however, fell for the third straight session by losing Rs 200 to Rs 43,800 per kg on lack of buying support from coin makers and industrial units.
Silver also jumped Rs 950 to Rs 44,750 per kg on increased offtake by jewellers and industrial units.
In a world filled with imperfections, we need to constantly remind each other that nobody and nothing is perfect, including us, says Divya Nair.
