Mumbai: Gold prices in India may have got a leg up from a sharp spike in demand on account of the Akshaya Tritiya festival, but globally the metal seems to be losing its shine.
Investors are still shying away from it, with experts saying it’s still too expensive. “From an investment point of view, one should wait and enter the market only below Rs14,000...or even at Rs13,500 per 10g,” said Saravanan K. of Sushil Global Commodities Pvt. Ltd.
Adrian Mowat, chief Asian and emerging equity strategist at JPMorgan, said gold was precariously positioned.
“You are better off with assets that generate income, as opposed to assets that require someone to believe it is worth more at some point in the future,” he said.