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Know Why This Is The Good Time For Buying Gold – This is the best time to buy gold, invest like this on Akshaya Tritiya

Know Why This Is The Good Time For Buying Gold – This is the best time to buy gold, invest like this on Akshaya Tritiya
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Know Why This Is The Good Time For Buying Gold – This is the best time to buy gold, invest like this on Akshaya Tritiya

Know Why This Is The Good Time For Buying Gold – This is the best time to buy gold, invest like this on Akshaya Tritiya

New Delhi. The year started well for the bullion market, but after the Federal Reserve signaled no change in policy interest rates, gold prices lost their gains in March. We expect gold to continue rising on the back of global economic slowdown, rising uncertainties and central bank buying. Investment demand is also increasing rapidly, due to which buying in funds and ETFs will increase. The prices in the domestic market are still looking better as compared to the global market. The reason behind this is the rupee’s value against the dollar, which has been under mild pressure since the beginning of this year. For this reason the price of the domestic market is slightly higher.

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Akshaya Tritiya is still considered the most auspicious day to buy gold. We have seen that on an average, in the last 10 years, investment in gold has given an annual return of 8 percent. We believe that investing in gold can give good returns even after a mild slowdown in the last few years, as some economies will slow down at the macro level. Because of this, buying in the metal will increase.

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As expected, the Federal Reserve has not made any change in policy interest rates and has also indicated to change it according to the need in the future. The Fed chairman has said that the central bank has had to take this decision due to low inflation. Conversely, if economic data declines, interest rates may rise. Similarly, ECB has also avoided making any major changes in interest rates this year. On the one hand, the central banks are getting cautious about the economic slowdown, while on the other hand the economic data is not showing in the policy move.

This year, we expect Gold trade to be positive and trade around 32,500. If it crosses this figure, then the price of gold can cross 35,000. In this way, in the coming few years, the price of gold can even go beyond 40,000. At this time one can start investing in gold.

Gold Performance: Year-on-Year on Akshaya Tritiya
What is the change in Akshaya Tritiya price (in percentage)
04/01/2015 26,960 -6.44
05/09/2016 29855 10.74
4/28/2017 28873 -3.29
4/18/2018 31118 7.78
4/25/2019 31,760 2.00

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