What’s the Best Time to Buy Gold?
In India, the price of gold is on a rollercoaster. As of today, 24K gold costs in Delhi are at approximately ₹1,07,000 per 10 grams and 22K is approximately ₹98,000. World commodity prices—gold prices have been slightly relieved as tension levels have reduced and there is a possibility of lowering interest rates; however, India has a low rupee and high domestic demand which keeps prices on the high side.
As Diwali approaches and the marriage season draws near, demand for gold will begin to increase and this may further increase prices.
You should consider purchasing gold today so that you do not pay more to purchase it tomorrow. However, when making an investment with the sole purpose of making profits, it may be a better idea to wait until the prices have stabilized.
Don’t want heavy jewelry? Gold ETFs and digital gold are good substitutes—you can purchase small quantities with ease.
Either way, it is tradition or it is investment, time it well!
So, what’s the smart move?
Are you planning to purchase some gold in the coming festival or a relation’s wedding? Then it is better to buy it now and avoid increased prices in the future. However, if you are investing to make money, you may want to wait until prices stabilize. What do you think?