For a long time Gold prices have been only moving upward and in the last few months we saw a steep increase in the price. Around 6 months back I had bought some gold in India at the rate of 8K INR per gram for 22K, and within 4 months the price shot up to 13K INR for 1 gram gold and in this month of March the price was 155K That is a big increase in the price just in a span of 4 months. I wanted to purchase some gold as an investment, but with the prices going up so crazily I was thinking if it is worth it or no. I have been constantly tracking and only feeling disappointed with it going up and up. Hubby told me to wait as he said that there will be a correction.
I did not believe him as in the history of Gold prices, there have been minor corrections, which was barely making any difference. But he said wait and not be in a hurry. When the price touched up to almost 160K I lost hope of buying it because I was barely getting anything. And then 2 days back the price drop drastically and there is a major correction, a good 20% correction has happened, which now makes it lucrative to buy some gold. Not only gold but stock markets, other commodities market everything has been on down trend because of the rising geopolitical tensions. As of now my mutual portfolios is all in red :-(
There is so much uncertainty right now and people want to shift their savings to safer assets, but what is safe assets. Gold has been considered to be a safe asset, but just in a day there has been a straight 20% fall. I am sure it will not fall more then this, or may be a little here and there, but the point is that in this volatile situation nothing may be safe. Yes, the Interest rate hikes is making fixed income instruments safe for the current times but I believe that this is the time to get a little bold and invest in stock markets and mutual funds in some safe and good company shares and bonds. These prices fluctuate rapidly so you never know as soon as these war situation gets better, so will the markets go up.
The first quarter of this year is about to end and it's not been very pleasant. Hope that the next quarter will bring some light to the markets, which as of now does not look very promising but it's always good to stay positive and hope for better days. There is so much unrest and uncertainty right now that it is better to be safe then sorry.
Thank you for visiting my blog. 👼🏻👼🏻💖💖🌹🌺🌸
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