Gold could see a correction of 8- 10%, a good point for investors to buy
A correction of 8- 10% cannot be ruled out from these levels which will be a good point for investors to enter the yellow metal. Investors should follow the strategy of buy on dips.
Source: Reuters
Nitin Shahi
Gold had made a meaningful top near 55,900-56,000 levels. It has rallied more than 100% in the last 4 years i.e from 25,000-odd levels to 56,000.
Even with all the headwinds the world witnessed in 2020 due to the pandemic, gold hasn t managed to rally further.
Gold has delivered handsome returns in the current year. It has rallied more than 37-38% in the current year from Rs 40,000-40,500 levels to make highs of 56,000, and currently trading around levels of 49,200.