Due to the fears over US and European dept crisis, all the global markets trembled with fear by nosediving on Friday(5-Aug-11). The Sensex lost over 390 points, recording a intraday low of 600 points, which is the worst one day dip since Nov 2008.
Some market analysts are saying that, these are the signs of double dip recession. Even tough US congress passed the bill for extending the debt limit, its like a temporary relief to the pain. The raise in US unemployment added fuel to the issue.
I think this debacle is not over with this black friday. The global markets will still remain wildly volatile for the next couple weeks, untill any major relief comes to US & European debt issues.
The climbing down of crude prices may give some positive outlook for oil companies.
So if you need to stay invested in markets watch out for triggers and invest. As an alternative investment gold is now the choice of many investers, that pushed its price to all time high. Its an alarming situation for gold. Once the global markets back on track gold will return to Rs.2100-Rs.2500(per gm) . So, becareful before investing in gold. Prefer gold ETF's over physical form.
Happy Investing.
No comments:
Post a Comment