Our Call on Gold Has Come 100% True!!

01 November 2014

Our Call on Gold Has Come 100% True!!

Greetings from Hitesh! On 25^th July we had written our post – Should you invest in Gold? In the same we had said – “Looking at the risk factors and ground realities mentioned above, if you still invest in Gold, you would be fooling yourself. Invest in Indian Equities rather than in Gold.”

What Happened Since Then?

Gold has come down from USD1300 to USD1163. A fall of 13% in USD and USD 137 in absolute terms per Ounce. In India it was around Rs.28500 per 10 grams which has come down to Rs.26300 yesterday!! A fall of Rs.2200 per 10 grams or fall of around 8%.

What Happened in Nifty?

Nifty moved up from 7800 to 8300 during July to October period. A gain of 500 points or 6% approx. BSE Sensex was 26000 and it made a high of 27865 yesterday, a gain of 1865 points or 7% approx.

What Experts Were Talking about Gold in July?

Looking at the War like situations they were unanimous about gold price going up. But once again we have been proved right!!

What Next?

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Hitesh Parikh.