Kavan Choksi- An Insight into The Reduction of Gold Prices in the UAE
The prices of gold in the UAE have dropped recently, and the cost of 24-karat gold is now Dh232.75 from Dh 234.50 per gram of gold, and the price of 22 Karat gold is Dh208.75 from Dh218.75 per gram of gold. The cost of 22-karat gold is now Dh208.75 and 18-karat of gold Dh178.75 per gram of gold. According to credible reports, the cost of gold will move from $1965 and then $1975 per ounce to $1,917 to $1,910 approximately in this range,
Kavan Choksi speaks on the price of gold and whether it will always be expensive for people to buy
Kavan Choksi is a skilled expert in business, finance, and investment in the UAE, and according to him, gold is more expensive to buy as the dollar index closed at a three-week high in the last session. This is why gold is more costly than other currencies in the market. At the same time, the prices of gold have also risen in America, and the government bond yields have increased due to the above reaching a three-year high.
The relation between bonds and gold in the region is positive
In the present scenario, investing in gold and government bonds in the USA are now regarded as safe assets in the USA as there is a positive co-relationship between these two. Though this sounds positive, there is no guarantee that a negative relationship might crop up between the two over time.
Tip for investors – wait, watch, and then buy gold
When it comes to gold and government bond investments, people should wait for some time to see the trends first. He believes that the supply of oil and gas across the world has fallen because of the prevailing war, and Russian sanctions have caused the prices of oil to increase. Holding gold carries sense for the investor because inflation might increase fluctuation again, and the USA dollar’s strength might be severely affected.
Carefully analyze the trends in the market before making investments
Observing the trends in the market is the need of the hour, and asset classes must be compared extensively before decisions are made. Generally, the regular investor reaches the different asset classes and chooses the one that brings in the most significant returns; however, business experts caution this is not the right step to embrace now. One should select the asset class that brings in “consistent” returns, so evaluate gold, stocks, and other types of assets to see whether they give you consistent returns.
According to Kavan Choksi, the gold prices in the region will rise again, and the perfect time for one to buy gold was six months ago. This allocation of gold should be aligned to meet the needs of the portion of assets. However, business experts like him caution people to stop running behind gold for returns. The prices of gold have indeed risen. However, the above does not necessarily mean that the costs of gold will rise further shortly. Know the market before you proceed.
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