Gold investment Strategy for 2014

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International gold prices may continue to correct in 2014. "We remain bearish on gold because it will underperform during tighter liquidity and rising interest rates scenario. It may go down further to the $1,050-1,080 range before March 2014," says Kishore Narne, associate director, Motilal Oswal Commodities Broker. Domestic gold prices have been cushioned from the global crash but this could change in the new year as the government rolls back some of the harsh measures introduced in 2013. A reduction in the import duty and other restrictions can bring down the domestic gold prices. "Domestic gold also looks bearish; the only risk is the currency," says Narne.

Investors will have to monitor global developments and government policy measures more closely in 2014.

Financial advisers have long advocated the benefits of buying paper gold. This conventional wisdom has been turned on its head by the differential in the market price of gold ETFs and their NAVs. It's better to stay away than get caught on the wrong foot.

Getting gold from abroad for a jeweller may seem a great way to earn easy money, but there are several glitches in this arrangement. The tax department may want to know where you got the money to buy the gold. Since this involves profit, you would also have to pay tax on the gains. However, it makes sense for NRIs to bring in small quantities of gold jewellery for their own use or as gifts for relatives.

 

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