Gold funds have returned 40% in the last one year. Abhishek Bisen, Fund manager, Kotak Gold Fund believes gold prices can further move up but advised investors to be prudent and wait for some time. Avoid chasing gold price. Try and avoid leverage for short-term trading and look at pure investment. Gold bonds issued by RBI are a better investment option. “We believe gold investment is an asset allocation decision. Its presence is the portfolio depends on the individual investor’s risk appetite and investment need. Given it’s a commodity and yields are negligible, 5%-15% allocation is decent” he said.