Should you buy gold on Akshaya Tritiya?

No time is bad for investment but there are a few occasions when investment is considered auspicious. Among them, is Akshaya Tritya. Akshaya Tritiya falls on April 22 this year. It is believed that investing in gold on this day brings good fortunes for the family.

During 2022-23, gold has given around 16% return. It has beaten silver and stock market in terms of returns. Currently, the price of gold is at the level of Rs 60,000 per 10 grams. In the coming days, its prices may further increase. In such a situation, Akshaya Tritiya is a great opportunity to invest in gold. Right now, one can expect good returns on investment in gold.

Gold is considered a good option for long-term investment. On Akshaya Tritiya in the year 2017, the price of gold was Rs 28,873 per 10 grams. In the last six years, its price has increased by more than twice. Director of Kedia Advisory, Ajay Kedia, says that in the current scenario, there are chances of further increase in the price of gold. If its price falls below 60,000, it will prove to be a good opportunity for investment. Gold can reach the level of 66,000 by the next Akshaya Tritiya. In this way, a return of up to 10 percent can be earned in one year. In such a situation, one can invest in gold on this year’s Akshaya Tritiya with confidence.

Gold price on Akshay Tritiya (Rs 10 per gm)

Year                Price (Rs)

2017               28,873

2018               31,383

2019              31,563

2020             46,527

2021             47,676

2022             50,800

source: Kedia advisory

Until a few years ago, investing in gold was only an option in physical form. Now, sovereign gold bonds are the best option for investing in gold. In this option, in addition to the increase in the price of gold, there is also an annual return of 2.5 percent interest. Gold mutual funds and ETFs are also good options. Physical gold can also be purchased for marriage purposes, but gold jewelry is not a good option for investment. Those who have not yet bought gold for investment can start from this Akshaya Tritiya.