Quote On Gold: It has outperformed major asset classes in the last one year Says Prithviraj Kothari, MD CEO of RiddhiSiddhi Bullions Limited
Below On Quote On Gold By Prithviraj Kothari, MD CEO of RiddhiSiddhi Bullions Limited
Gold has outperformed major asset classes in the last one year. Though internationally, gold prices are trading at 2 year low, domestically, gold is up 7-8% from the levels of Rs 48000/10 gm from last Diwali, due to USDINR depreciation. We are seeing good demand for gold buying in India with the start of the festive season this month. As rising inflation seems to have peaked out, we will see interest rates stabilising going forward in 2023, which will be a supportive environment for precious metals and gold will continue to give a historical return of at least 10% by next Diwali.
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