MTECHTIPS;-Gold shines in 2019; Axis Securities sees yellow metal touching Rs 39,500/10 gm by March MTECHTIPS- gold bugs, with the yellow metal surging over 19 percent year-to-date, as against almost 12 percent returns for the bellwether Sensex. It touched a high of Rs 40,000/10 gram by October-end but has since retreated to the Rs 38,000 zones. In dollar terms, it hit a high of $1,565 per troy ounce in August-end. So, what does 2020 have in store for gold? Summarily Kate, Head - Commodities & Currency, Axis Securities, sees one of the world’s oldest currency forms touching around Rs 39,500 per 10 gm by March 2020.But, what about investors who are feeling left out by the huge run or were waiting on the sidelines for a price correction to enter? Investors have reasons to cheer as Katke feels prices may correct by Rs 700-1,000/10 gm by December-end. “In the short term, precious metals are likely to take a cue from the US-China trade deal. The trade war is hurting both countries, especially China, with export data emerging out of there shrinking for the fourth month in a row.” In dollar terms, he sees gold heading toward $1,430-1,440/troy oz, with $1,480 acting as strong resistance. For retail investors, gold exchange traded funds (ETFs) or sovereign gold bonds (SGBs) are among the simplest options available to buy gold digitally without worrying about the quality, premium charged by jewellers/banks, risk of being stolen or hassle of resale in physical markets. He suggests investors create a systematic investment plan and accumulate Gold ETF units/bonds. “Even though both gold ETFs and sovereign bonds are good alternatives to physical gold, MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips WWW.MTECHTIPS.COM 07489294118-119
Published on Dec 13 2019 2:35PM, by MTECHTIPS in Commodity tips| Share This