Zerodha Nikhil Kamath: The luster of gold is increasing. In 2023, new records of gold prices are being predicted. In this case Zerodha, Nikhil Kamath has advocated investing in gold. He has written in his LinkedIn post that Old Is Gold. Gold is the best investment idea for smart money pursuit.
Nikhil Kamath wrote in his post that investing in gold is a very wise investment. Gold has the best track record in hedging against inflation. He wrote in his post that 10 per cent of the total investment should be invested in gold during all market cycles ie ups and downs.
For the last few months, there is a continuous rise in the price of gold. On MCX Future, the gold price rose by 0.7 percent to Rs 55,975 per 10 grams. Many experts are predicting the price of gold to go up to Rs 60,000 per 10 grams in 2023.
Brokerage house ICICI Direct has predicted the price of gold to go up to Rs 62,000 in 2023. If the Fed Reserve increases interest rates further in 2023, then gold prices may increase further. Earlier in August 2020, gold prices had gone up to a high of Rs 56,200 per 10 grams. But from the time of October 2022 i.e. festive season, gold prices are seeing a boom. Due to the fear of recession in America and increasing the interest rates of the Federal Reserve, the price of gold has also increased.
Let us tell you that Zerodha is one of the biggest brokerage houses today and Nikhil Kamath is its co-founder. Zerodha has around one crore demat account holders.