Accumulate gold through SIP if portfolio allocation below 10-15%

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Accumulate gold through SIP if portfolio allocation below 10-15% - Business Standard

Quick Summary:

Geopolitical tensions – the Russia-Ukraine war and the West Asia conflict – show no signs of abating.“In such an environment, investors seek refuge in this safe-haven asset,” says Shashank Pal, chief business officer, Prabhudas Lilladher Wealth Management.

Gold, which closed at Rs 75,447 per 10 gram in the domestic market (and is trading at Rs 2,689.6 per ounce on the Comex), is up 29.4 per cent over the past year.

Central banks have been diversifying their reserves away from the US dollar and into gold.“Most major economies have been increasing their gold reserves in recent years.