Akshaya Tritiya The festival of is being celebrated with great pomp throughout the country. According to Hindu religion, buying gold on this day is considered auspicious and hence a large number of people buy gold or gold jewelery for investment and use on the day of Akshaya Tritiya. According to India Bullion Jewelers Association (IBJA), on Friday, the price of 10 grams of 24 carat gold is Rs 72,630. Whereas, a year ago the price of gold was around Rs 63,000. In such a situation, investors have got about 15 percent return in gold in the last one year.
Demand jumped by 8 percent
According to the World Gold Council (WGC), “There has been an 8 percent jump in gold demand in India during the period from January to March this year and it has been 136.6 tonnes. It may remain between 700 to 800 tonnes in 2024.” Shashank Pal, Chief Business Officer, Prabhudas Lilladher Wealth Management, said, “The annual gold data of Akshaya Tritiya shows that gold is a safe medium of investment for investors. We expect to see slower returns this year compared to the last two years.” The main reason for this is the strengthening of the dollar.
These are also means of investing in gold
Apart from physical, gold can be invested through Sovereign Gold Bond or ETF. With this, you do not need to worry about the purity of gold and you are also freed from the dilemma of creating a safe place to keep it.” Sovereign Gold Bond investors have got bumper returns in gold. In fact, the price of gold The price of gold has increased due to increase.
Input: IANS
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