During August 2020 price of Gold reached Rs. 52,000. If we look back, prices of Gold in the year 2000 was Rs. 4,400 while in the year 2010 it was Rs. 18,500 and in 2020 it has reached to Rs .52,000. This shows that within a span of 20 years it has increased from Rs.4,400 to Rs, 52,000 for 10 grams, roughly 12 times.
Compare your other investment like Shares, Mutual Funds with Gold and decide which one is better. Some analyst said that the Yellow Metal is still offers investment opportunities because the reasons that led to hike will remain unchanged over coming months. Investors should allocate 10 percent of their surplus saving for gold. Look at the chart where in last 95 years price of 10 grams of gold is shown.
CA Tarun Kumar Gupta
FCA, B.com, LL.b, DISA