Hello to Hive Fam,
I hope that life is treating you well wherever you are in this part of the world.
Gold is a precious metal, and people like to invest in this asset class. This is just an asset, and we can not use it to pay for the goods and services; however, we can invest and get the benefit of price appreciation if that happens. In the last year, the gold has shown a significant amount of rise in its value. It's also a form of investment for traditional investors, so now traditional investors are happy with the gold price appreciation.
I have taken the gold prices chart from Google, and below you can see that prices were around 80k INR one year back, but it's approximately 140k INR. With this price, now we can see a growth of significant value rise in gold prices. Bitcoin is a digital gold, but I believe that as an investor, it's never a good idea to put all the money in just one asset; rather, it's a good habit to diversify.
I invest in gold every year during festival time, and earlier I used to do it in jewelry, but that is no longer a good idea due to high making charges. I now prefer to invest in pure gold or digital gold, where I do not need to pay for making charges. I have already shared that I invest in gold through a daily SIP. I also have the option to invest a lump sum, which I do sometimes.
We can expect some correction in gold prices, but I don't think this will go beyond the current 100k INR price. This is because the gap is higher, given that gold is a traditional asset, so more price fluctuation is not expected. But again, with any market, nothing is guaranteed, and the market can turn in any direction.
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There are also gold ETFs that one can invest in, and it's an investment through legit ways also that we can do through our trading/demat account, and since these ETFs are backed by gold so if price appreciation happens on gold, the same will reflect on the gold ETF price as well. Thank you!
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Caution is advised at this point when all the news are hyping gold and people are lining up to buy it... This is no longer a store of value but a speculative bubble like a tulip mania...
It's because of a lot hype so a correction is expected but don't know when
You are right, I agree! Investing in physical gold really has its own problems and one question, usually when gold goes up without stopping it indicates an event or news or event in the world, do you agree that gold goes up before the event happens?? Gold (gold spot) is hitting records almost every week. Do you have any comments or ideas?
Gold is running hot. Corretion due
Indeed it is
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You previously published another post about gold, and we discussed that a correction was needed. Although there was a minor correction on Friday night, I believe more is needed. If gold falls to the 4000 level, that would be a good correction.
I think a bigger correction might happen soon but it's not expected to be more than 15-20% but again it's market and we can't predict anything
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