Invest in Gold on Akshaya Tritiya 2021: In view of the increasing danger of Corona epidemic in the country and other countries of the world, gold, which is considered safe haven, has started gaining momentum once again. Gold on MCX has reached the level of Rs 47450 per 10 grams today. Whereas in the month of March, gold had weakened to around Rs 44000. Experts say that the current environment looks favorable for investing in gold. Given the risk of COVID, the equity market is expected to fall. At the same time, interest rates also remain at the lower levels. In such a situation, investing in gold can be a good option this time on Akshaya Tritiya.
Buying gold on the occasion of Akshaya Tritiya is auspicious
Akshaya Tritiya is on May 14 this year. Buying gold on the occasion of Akshaya Tritiya in India is considered auspicious. Every year on Akshaya Tritiya, there is a huge increase in sales. Generally, the gold imports of which are 60-70 tonnes of gold, reaches 100 tonnes in view of Akshaya Tritiya. If you are thinking about investing in gold on this occasion, then you can adopt options like physical gold, gold bonds or ETFs. By the way, gold is still selling about 9 thousand rupees cheaper than its record high. In August last year, gold crossed the rate of Rs 56000 per 10 grams. At the same time, it is trading close to Rs 47400.
How much can you get in the next 3 months
Anuj Gupta, Vice President (Commodity & Research), IIFL Securities, says that gold can cross Rs 48500 per 10 gram level in the next 3 months. Anticipating a correction in the equity market due to COVID 19, weakness in the dollar, the Fed’s ability to keep interest rates at lower levels and a sluggish recovery in the US economy will support gold prices. At the same time, buying by the central bank and increasing demand on Akshaya Tritiya and Wedding season at domestic level will also provide support.
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3 months have been better to sleep
If you look at the coming months, then the return history of the last 10 to 11 years says that gold will accelerate further. However, this boom will be stable after May. Investing in gold at current levels in June, July and August can provide good returns. If you look at the return history in gold, on average, investors have received positive returns in the last 10 years in June, July and August.
Average Return in last 10 years
June: 1.45%
July: 1.47%
August: 6.59%
(Source: Kedia Advisory)
If you look at the figures here, gold has been giving great returns in June, July and August. Whereas during these 10 years, August has been the best month in terms of giving returns in the whole year.
Physical Gold Vs Bond Vs ETF
According to Ajay Kedia, director of Kedia Commodity, whether investing in gold in physical form or in bonds or ETF depends on the scenario. For example, in rural areas, gold is purchased for consumption. People there consider it better to buy it in physical form. At the same time, in urban areas, gold is used as an investment option more than consumption. Hence, there is a trend of gold ETFs and future trading in the city. It is beneficial to have a bond or ETF for the long term. However, bonds and ETFs do not have to pay the making charges as in gold jewelery. There is also no hassle of maintenance. At the same time, annual interest is also available in gold bonds.
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