Stay updated with breaking news from Gold Record High. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
One need not go overboard on gold for getting superlative returns. Gold is used as a hedge against volatility in stock markets and uncertainty across the world.
ETMarkets' analysis reveals the underperformance of jewellery stocks amidst gold's record highs. Most saw negative returns, with a few exceptions. Experts suggest cautious investment strategies with focus on companies' fundamentals and long-term prospects.
The metal serves as a hedge against fear itself, making it an appealing asset for our times.
As traders cut back on their hefty rate-cut wagers, US treasuries may fall further in the near-term, which means gold may be vulnerable in the near term as the metal has been rallying mainly on rate-cut notions. Gold is expected to fall further unless it gets support from the Fed's monetary policy decision to be announced on December 13.
The price of gold soared to a record high this week, fueled by a growing preference for safe-haven assets by investors in the face of financial market volatility sparked by the recent global banking turmoil. A gram of gold was priced at 84,980 won ($64.40) on the Korea Exchange (KRX), Wednesday, up 1.86 percent from the previous session. The price of gold hit an intraday high of 85,020 won. Wednesday's price beat the previous record high of 83,490 won set on March 20.