Why should you increase gold allocation in your portfolio this Diwali?
'Buy MCX Gold between 45,500 to 44,500, SL – 41000, Target – 55,700 / 56,500.'
Diwali is considered to be auspicious occasion for buying gold and irrespective of the price, gold is bought by Indians. Analysts believe the investment demand will continue to rise in 2021 taking in to consideration the unprecedented amount of liquidity flush by central banks across the globe. The surging covid infections also adds cherry on the cake for global investors to increase their allocations towards the yellow metal. "Although, the physical demand numbers released by the WGC does not represent a good story for India, It is advisable to increase gold allocation in your entire portfolio from 10% to 15 % taking in to consideration the uncertainty revolving around global economy," says a report by Angel Broking.