Akshaya Tritiya on Gold Buying: According to the Panchang, on the Tritiya Tithi of Shukla Paksha of Vaishakh month, Akshaya Tritiya is worshiped by Goddess Lakshmi and buying gold on this day is considered auspicious. This time, Akshaya Tritiya is on Friday 14 May 2021. If you invest in gold on this occasion, you can get huge returns on this investment in the next Akshaya Tritiya i.e. one year. At present, the price of gold is at Rs 47 thousand per ten grams and there is a buying trend in it. Market experts estimate that in the next one year it can go up to 55-60 thousand rupees, meaning that investors can get a bumper return of up to Rs 13 thousand. At this time, on the commodity exchange MCX, the price of gold for the expiry of 4 June 2021 is Rs 47760 and the price of gold for the expiry of 5 August 2021 is Rs 48150.
This is the best time to invest
At this time, the price of gold in the domestic market is close to 47 thousand. The way the second wave of Corona is proving dangerous, its sentiments are rising. Investors are getting attracted to gold as a safe option for investment. In such a situation, investing in gold on this Akshaya Tritiya will be cheaper because its price is expected to pick up in the next two to three months i.e. investors who want to invest in gold for a short period of time, they can also invest in this Akshaya Tritiya. Tax can be earned in the next two to three months. Anuj Gupta, Vice President (Commodities and Currency Research), IIFL Securities, said in a conversation with Financial Express Online (Hindi) that in the medium term its price can cross the level of 50 thousand rupees.
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Gold is expected to gain due to these reasons
Gold has long been considered a safe investment option. Presently, the second wave of corona in India is infecting people very fast and more than 4 lakh new cases are coming every day. Due to this, the confidence of investors has been shaken by the market and they are getting attracted to gold. Due to this, there is a boom in gold. Apart from this, due to the decline in US Yield and weakness in the US Dollar, the trend of investors globally has increased towards Gold. The effect of increased gold prices on the global level also affects the domestic market. Apart from this, central banks around the world are buying gold, which has supported its price. According to SBI’s EcoRap Research report, corona infection is expected to stabilize in India by October, when 15% of the people will get vaccinated. In such a situation, the trend of investors towards gold is still going to continue.
Bumper profits can be earned in a year
Gold reached a record level of 56 thousand in August last year. However, the decline started after this and at this time gold is being available at a discount of about 9 thousand rupees. In such a situation, Anuj Gupta believes that this is a good time to invest and till the next Akshaya Tritiya, its price can show a level of 55-60 thousand, which means that investors can get a return of up to Rs 13,000.
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