Why you should buy gold this Dhanteras, Diwali despite record high price

Why you should buy gold this Dhanteras, Diwali despite record high price

While the long-term outlook is muted, several short-term factors hint that the current up move in gold will continue for some more time. Gold prices have jumped by 34% from the last Dhanteras day. Further, investors who have bought gold on every Dhanteras over the past five years have earned returns of 7.9%. Here’s why you should continue with the tradition despite the record high prices.

It’s that time of the year again. Diwali and Dhanteras are round the corner, and it is the time Indian households buy gold as it is considered auspicious. Historically, this gold buying tradition has rewarded them handsomely. For instance, investors who have bought gold on every Dhanteras over the past five years have earned returns of 7.9% (see chart). The 10-year and 15 -year returns stand at 10.7% and 11.9% respectively.However, most of the

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