The stock market has given returns of about 16 per cent to its investors in 2023.
The year 2023 witnessed remarkable returns for investors, whether in the stock market or gold, with both assets delivering substantial profits. As the new year, 2024, begins, investors are faced with a significant dilemma — whether to bet more on gold or shares.
Reports indicate that in 2023, the stock market experienced an impressive surge of about 10,000 points, translating to a return of approximately 16 per cent for investors. Simultaneously, those who invested in gold during the same period reaped significant returns of about 15 per cent, as gold prices crossed the milestone of Rs 60,000 for the first time. Now, investors are deliberating on which option will prove more lucrative in the coming year.
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Stock Market:
According to equity and stock market expert Kunj Bansal, the stock market, represented by the Sensex, is poised for excellent performance in 2024. He predicts that by the end of the year, the Sensex could surpass 83,250, while the Nifty may breach the 25,000 mark. As of January 8, the Sensex closed at 71,355.22. If Bansal’s projections hold, investors could witness a rise of approximately 12,000 points in 2024, equating to a return of about 14.41 per cent.
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Gold:
Ajay Kedia, director of commodity firm Kedia Advisory, anticipates a surge in gold prices in 2024 due to the prevailing global market situation and inflationary pressures. Gold closed 2023 at Rs 63,203, providing investors with a remarkable return of 14.88 per cent. Gold futures, maturing on February 5, 2024, stood at Rs 62,511 per 10 grams on the MCX, after recording a marginal dip of Rs 182 or 0.29 per cent. The previous close was recorded at Rs 62,557.
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Both the stock market and gold have the potential to deliver double-digit returns in 2024. Investors with a higher risk appetite may choose to allocate more funds to the stock market, while those inclined towards lower risk may opt for gold. Given the ongoing global market uncertainties, gold appears to inspire more confidence, with expectations of increased demand in the face of turmoil.
