Anyone who had an allocation to gold going into 2020 would be pleased now. Gold price has increased considerably since 2019.
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| Gold price in India over the past 24 months |
Anyone who newly added gold to their portfolio after July 2020 may not have seen such a gain; they might have even lost money depending on when they bought their gold. An investor that bought gold in 2018 or 2019 benefitted in 2020. An investor that bought gold much later in 2020 needs to wait till the next gold rally, whenever that might be.
What does this mean?
You cannot add an asset to your portfolio today, and expect to reap the benefits immediately tomorrow. An investor needs to choose the right asset, invest, and then wait patiently. All 3 are necessary for success in investing.
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