Quote on Gold: Gold prices at all time high Says Jateen Trivedi, LKP Securities
Below is Quote on Gold prices at all time high 04 May 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
Gold prices in last FY 23 have jumped a massive 8000 rs in Domestic markets from 52000 to 60000 which is 15% returns beating all other asset classes. Nifty has given flat to negative returns in this FY23, as the geopolitical tension in Russia & Ukraine escalation brought the Gold has been proven a perfect hedge in the Portfolio giving out strong returns. Going ahead Gold still looks lucrative in terms of ROI from a safety perspective where the Inflation still remains high globally and interest cycle which is yet to ease, will also provide the push needed for Gold to run and give 10-15% return in coming FY24. The prices can easily touch 66000-68000 on base case performance before we reach the FY24 end next year. On the back of weak and uncertain performance in risky assets it is strongly advised to remain invested in Gold for further 10-15% returns on base case and 15-20% on bull case scenario.
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