Jewellers, this is more promising Diwali: Sachin Jain
Mr. Sachin Jain, President, Forevermark India says at the occasion, “Diamond jewellery holds a great significance for a modern Indian woman and when it comes to purchasing jewellery during the festive season. This new festive range is crafted specially to celebrate the season of lights and prosperity.
A woman looks for something that is beautiful, genuine, natural and precious. Keeping this factor in mind, we are delighted to showcase this enticing collection that truly blends the aspect of traditionality with modernity, making it an ideal Diwali gift for today’s multi-tasking women.
Forevermark has been growing in double digits so far this year across 60 markets and with the beginning of the festivities, the current quarter looks more promising considering Diwali and other gifting occasions are in the offing", said Sachin Jain, President, Forevermark India.
Furthermore let’s learn the view of Mr. Sunilkumar Katke, Head - Commodities & Currency, Axis Securities said at the occasion that, “Dhanteras is considered as an extremely auspicious day to make new purchases, especially Gold in India and around the globe by Hindus. People invest in the yellow metal as it is believed to bring prosperity.
Gold is also considered a good hedge against inflation. Gold purchased every year on Dhanteras during the last 5 years has managed to beat inflation even though the year on year returns were in single digits. As of last Dhanteras, till October 2018 the price ranged around Rs 31600 per 10 grams compared to Rs 27500 during October 2014.
However, multiple events across the globe during 2019 like US-China trade dispute, Concerns over Brexit, Fed changing its stance 180 degrees and adopting multiple rate cuts, US Iran geopolitical unrest, Central banks buying Gold to secure their reserves, fears of global slowdown, demand from ETF’s etc pushed gold prices above Rs. 40,000 mark per 10 grams in Sept 2019.
However, the prices corrected and are hovering around Rs. 38,000 per 10 grams now on this Dhanteras (October 2019). This means a yield of 20% in just 1 years’ time is the highest during the last 10 to 15 years’ time grabbing interests of allot of institutions and individual investors. Coming to the question, if Gold still has its glitter left and whether one should buy Gold in Physical or through Gold MF’s or ETF’s or on derivative platforms on this Dhanteras?
The answer would be a YES on dips as the Bull Run doesn’t seem to be over yet considering the ongoing uncertainties still unresolved one can expect the prices to move northward from current levels of $1490 to about $1750 at Comex and Rs. 38000 levels per 10 grams to Rs. 42000 mark in months ahead domestically.”
