InvestorQ : With gold prices having moved up sharply, is it the time to buy more gold or to sell out of gold?
manisha Kolvenkar made post

With gold prices having moved up sharply, is it the time to buy more gold or to sell out of gold?

Answer
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Mahima Roy answered.
7 months ago


Gold has for long been a preferred safe haven investment in troubled times! That is what we have been seeing in the last few months. With international gold prices touching a 7-year high at above $1600/oz and Indian gold prices already at a life-time high, the big question that is coming back to haunt is whether gold is overpriced. According to a recent Bloomberg report, ETF gold holdings at $144 billion are back to the 2012 peak. But with the global uncertainty rising, the Coronavirus spreading and loose monetary policy, gold is expected by most experts to inch up much higher. In fact, conservative estimates are already pegging gold to touch the previous global peak price of $1900/oz. In fact, gold bulls are already talking of the start of a gold rally. Back in 1971, gold had rallied nearly 30-fold over 9 years in the midst of economic and geopolitical uncertainty. Goldman Sachs is already talking about gold getting closer to $2000/oz.