Rs 40,000: The spot price for 999 purity gold crossed Rs 40,000 per 10 grams in major metros last week on lingering worries about a possible global recession and uncertainty over US-China trade talks.
5th September
- As gold is imported in India, a weaker rupee also contributed to the rise in prices.
- The yellow metal has been rallying for some months now, as many central banks and global investors have been investing in it.
- While there are predictions that gold can even touch Rs 45,000 per 10 grams in the country, don’t rush to invest in it.
- Avoid speculating in the yellow metal. Instead, evaluate your need for it at the portfolio level.
- Gold is essential in every portfolio as a hedging tool. The allocation, however, should be restricted to 10 per cent.
Disclaimer: This information is from a third party—Business Standard—offered through a tie-up to Kotak Securities customers for free for life. The third party content is not created or endorsed by any business offering products or services through it. The provision of this third party content is for general informational purposes only and does not constitute a research call, recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Also, the views and opinions stated in the content belong to Business Standard. Kotak Securities does not uphold nor promote any of the views. These reports do not, in any way, qualify as a Kotak Securities research report.
A few links for further reading
Invest and emigrate
The great Indian dream of settling abroad is achievable if one has a few crores to invest. Rich nations offer a variety of investment options in a quid pro quo arrangement: immigrants get a better quality of life and revenue from them helps these countries’ finances. Wealthy Indians, troubled by polluted cities and the red tape holding up entrepreneurship, may want a quick ticket out of the country. Sanjay Kumar Singh lists a range of options: from a Canadian province’s investor programme to America’s US EB-5 plan.
Small savings schemes
Investors in small savings schemes breathed a sigh of relief when the government announced on October 1 that interest rates on these instruments would not be revised for the fourth quarter of the calendar year. With the economy witnessing a slowdown, and the stock markets also turning volatile, many investors are looking for alternative avenues to park their savings. Small savings schemes, with their sovereign guarantee, have emerged as a viable alternative.
NUMBER OF THE WEEK
Rs 10,000: Enhanced withdrawal limit allowed by RBI to customers of PMC Bank.