As Akshaya Tritiya considered to be very auspicious according to Hindu calendar. Now everyone is deciding what to buy in this Friday. Mostly people prefer to buy gold and that’s a good investment criteria.
Investors should buy gold instead of jewelry as per investment purpose.
Going by record of last few years average buying on Akshaya Tritiya has been between 15-25 tons. Last year, according to estimates by GFMS Thomson Reuters, 17 tons of gold was purchased by Indians on Akshaya Tritiya occasion. At today’s price this is Rs 5,000 crore market and market experts are expecting higher demand for gold this time it could be a billion dollar plus worth gold sales.
People buy gold for trading, for hedge against inflation as gold price is still decided based on the international price and hence it keys care of any inflation caused due to rupee depreciation as low rupee against dollar means higher gold price in rupee terms. People also accumulate gold for marriages in future as gold has still been a big ticket item across income side families in India and poor and rural people still trust it more than financial assets.