Explained: Why you should not be buying gold right now
But, should you be buying gold, selling gold or holding gold at this time? In this week’s episode of TOI Wallet Talks, Navneet Damani, Sr. VP – Commodities Research at Motilal Oswal Financial Services talks about his outlook on gold and why it may not be the best time to buy gold.
Gold rate today at new high but is silver priced for better investment bet? Expert view
Damani also talks about other investment options such as equities, silver and bank FDs. “We have been strongly bullish on silver for quite some time now and I think China’s demand story is just starting to probably get heated for silver. Also, to give a comparative number, India imported about 9,400-9,500 tons of silver last year in 2022 whereas the world production is about 25,000 tons,” he says.
However, if gold is your investment bet, watch this video to know which is the best avenue – gold ETFs, sovereign gold bonds, bullion or gold jewellery. “Gold ETF is one of the options which is very prevalent but gold ETFs have underperformed vis-a-vis gold prices in the physical market or on the exchange largely because of the interest rate duty changes that we have seen over the last few years,” Damani notes.
Watch the weekly episode of TOI Wallet Talks to have some of your most important personal finance queries explained in simple terms by experts. From gold, fixed deposits, mutual funds, to tax planning and income tax filing, the TOI Wallet Talks show offers informed opinions on all.