Akshay Tritiya Gold Buying:This year Akshaya Tritiya is on 10 May 2024 (Akshaya Tritiya 2024). The tradition of buying gold on this occasion has been going on for a long time in India. However, now the trend has changed and many people buy gold on Akshaya Tritiya not only as a tradition but also for investment purposes. By the way, those who buy gold on Akshaya Tritiya have become rich in the long run. According to the report of brokerage house Motilal Oswal, if we talk about the last 15 years, from Akshaya Tritiya in the year 2010 till the year 2024, gold has given an annual return of 10 percent. Brokerages and experts are advising investment in gold this year also.
Best Schemes: Investment of 1 lakh becomes 5 lakh, returns up to 393% in 5 years, rating of these 5 schemes is also 5 stars
From 2010 to 2024: Gold becomes costlier by Rs 54200
In the year 2010, the price of gold on Akshaya Tritiya was Rs 16960 per 10 grams. Which has now increased to Rs 71200 per 10 grams. In these 15 years, the return of gold has been 10 percent annually. Whereas gold has increased by about Rs 54200. In this sense, if someone had bought 10 grams of gold in 2010, his return per 10 grams would have been more than Rs 54,000.
Gold price on Akshaya Tritiya in 2011 was Rs 20320, in 2012 it was Rs 27170, in 2013 it was Rs 25430, in 2014 it was Rs 28000, in 2015 it was Rs 25370. In 2019, it increased to Rs 31383 and in 2020 it reached Rs 46527 per 10 grams. In 2021, it crossed the level of Rs 50,000, so at present it remains above Rs 71,000.
SIP Portfolio: Has the return of your SIP portfolio deteriorated? Take measures to avoid negative compounding
How much return will be received till next Akshaya Tritiya?
Brokerage house Motilal Oswal Financial Services Limited has kept the target price for gold at Rs 75,000 per 10 grams, while for silver it has been kept at Rs 1,00,000 per kg. Since last year’s Akshaya Tritiya, gold has seen an increase of 13 percent and silver has seen an increase of 11 percent. It is advised to buy on decline with a target of $ 2450 for gold and $ 34 for silver on Comex.
Why should you buy gold?
Anuj Gupta, Head – Commodity and Currency at HDFC Securities, says that gold prices have increased recently. However, some softening has been seen from the record high. He says that if we talk about the present times, it would be wise to give 5 to 8 percent allocation to gold in your portfolio. He has also set a target of Rs 75,000 in gold by the end of 2024.
It’s an emergency! Take loan against mutual fund or apply for personal loan, choose the right option
The kind of environment that is being created now, especially new investors have the opportunity to invest in gold. The data in the US is not good, the weakness in the dollar index is increasing. This is positive for gold. At the same time, the Central Bank of China has added 27 tonnes of gold between January and March 2024 i.e. in 3 months. Other central banks including RBI are also continuously buying gold, which is providing support to the prices.
He says that geopolitical tension still persists. The war continues between Russia and Ukraine and Israel and Hamas. The valuation of the stock market also remains high. In such a situation, the momentum in gold is expected to continue in future also.
