InvestorQ : I am planning to get married in December 2020 & want to buy gold. What is the best price to buy?
tanvi Patel made post

I am planning to get married in December 2020 & want to buy gold. What is the best price to buy?

Answer
user profile image
ishika Banerjee answered.
1 month ago


When you buy gold for marriage, I am not sure if timing is really that important. It is not like you are suddenly going to get a sharp crash price in gold before December, when you can jump in and buy. Gold prices will still be buoyant so go ahead and buy.

It is a different question if you are looking at gold as an investment. In that case, you can take a SIP approach and buy gold gradually. That will give you the best advantage of rupee cost averaging in your gold purchases.

Gold prices normally move up when there is too much liquidity in the system and interest rates are low. Now there is an added risk that central banks could buy more gold to reduce dollar exposure and that could propel gold further. Don’t wait too long to buy gold for your wedding.