InvestorQ : Does gold still hold potential at these price levels? I am asking because India gold is at an all time high and even international spot is close to life highs?
sarah Leo made post

Does gold still hold potential at these price levels? I am asking because India gold is at an all time high and even international spot is close to life highs?

Answer
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vidhya Laxmi answered.
6 months ago


Gold buyers in India have had reasons to celebrate. After a 43% return in the last one year, gold investors may be still sitting on a goldmine of future profits if the views of Goldman Sachs and Morgan Stanley are to be taken at face value. These investment houses are betting on international spot gold prices touching $3000/oz by the end of 2021. Currently, gold trades at around $1750/oz and that implies a return of nearly 70% in the next 20 months. The Indian price of gold is pegged at close to Rs.85,000/10 grams in the Mumbai market. This is likely to be driven by a weakening global economy and debasing of currency. Gold story could well continue into a better part of the next two years.