Akashya Tritiya: Buying gold and investing in gold is the first choice of Indians. Gold has long been seen as a great investment option. Today is Akshaya Tritiya. Buying gold on this day is considered very auspicious. If you are also thinking of investing in gold, then let us tell you that gold has a good record of giving excellent returns. If an investor had invested in gold on Akshaya Tritiya last year, he would have got a profit of about 10% on this Akshaya Tritiya.
Gold reached 51 thousand rupees from 46 thousand rupees
According to the spot rate released by the India Bullion Association, the price of 24 carat gold in the bullion markets was Rs 51336 per ten grams on Monday. The same prices will be applicable today as it is the festival of Eid and the commodity market is closed on this occasion. Therefore new rates will not be issued today. Last year, on Akshaya Tritiya day i.e. 14 May 2021, the price of gold was Rs 46,946 per ten grams. That is, if we look at the year, then it is a profit of 9.35%. That is, if an investor had bought 20 grams of gold on Akshaya Tritiya last year, he would have made a profit of Rs 8,780 on Akshaya Tritiya this year.
Also read- Akashya Tritiya: Invest in gold in these 4 ways on Akshaya Tritiya, you will get great returns, you will be rich!
Gold can go up to Rs 60,000 per ten grams
Anuj Gupta, Vice President, IIFL Securities explains that investing in gold has always been beneficial. Inflation has an impact on gold investments and the way global inflation is rising, it will increase gold prices and this can benefit those investing in gold. This year the price of gold had reached 55 thousand rupees. According to Anuj Gupta, the price of gold can reach Rs 55,000-60,000 per ten grams by Akshaya Tritiya next year. In such a situation, those investing on this Akshaya Tritiya can get a profit of more than 16.87 percent next year. At the same time, according to Motilal Oswal, gold can trade in the range of $ 1800 to $ 2050 on Comex in the next 12 months. On the domestic front, gold may cross the Rs 55,000 mark.
Also read- Buy gold on Akshaya Tritiya today for only 1 rupee, know what is the way to buy it?
Share or Gold? where to invest
Commodity market experts believe that both gold and shares are better for investment. But investing in stocks is more risky. Some stocks manage to give multibagger returns, but some shares give negative returns as well. At the same time, the risk in gold investment is negligible. However, in the last one year, there are hundreds of such stocks which have given multibagger returns and have converted one lakh investments into crores.