Gold Rates Fall By Rs8750 Since Reaching Record Highs
Even though gold prices have recovered recently, the rates are way below the record levels that were touched in August 2020. The prices of gold are at Rs.47,500 for 10 grams. On 23 April 2021, gold futures prices on MCX fell by Rs.200 and were at Rs.47,530 per 10 grams. On 26 April, gold rates traded below Rs.47,500 for 10 grams. In April, gold rates have jumped by Rs.2,800 per 10 grams. Last week, gold futures on MCX on Monday, Tuesday, Wednesday, Thursday, and Friday were at Rs.47,393, Rs.47,857, Rs.48,228, Rs.47,772, and Rs.47,532 for 10 grams, respectively.
29 April 2021
Gold Set To Be Costlier This Akshaya Tritiya 2018
With gold prices crossing the Rs.32,000 per 10 gram mark, Akshaya Tritiya 2018 is set to be quite an expensive affair. With most households buying gold jewellery on this auspicious day, a firm gold trend is expected due to continued tension between the United States and Syria.
Gold was priced at Rs.32,300 for 10 grams on Saturday, 13th April, 2018 as the metal was buoyed by increased overseas demand. The current price is the highest for Akshaya Tritiya in recent years and could put a dampener on sales, though jewellers are optimistic about offtake. The possibility of a price rise after the festival could also result in greater sale volumes, according to some jewellers and industry analysts.
16 April 2018
Buy Gold On Akshaya Tritiya
Akshaya in Sanskrit means one that never diminishes and the day is believed to bring good luck and success. Hindus who imbibe what is originally called Santana Dharma believe they can get lasting prosperity by buying precious metals on the day. Akshaya Tritiya is traditionally earmarked for beginning new ventures, for investing and purchasing valuables especially gold, jewellery and diamond. It is no surprise Indians buy gold on Akshaya Tritiya as it is considered very auspicious and a safe investment. It is also believed that any meaningful activity started on this day would be fruitful.
It is also believed that people born during this time shine brightly in life due to the exaltation of Sun and Moon in the natives horoscope. Many greats were born during this period like Basaveshwara, Ramanujcharya, di Shankarcharya, Swmi Chinmaynanda and Lord Buddha.
Glance through the annals of ancient Indian heritage and one finds that on this Tritiya day of Vaishaka month many significant things of great spiritual importance happened. According to Jain tradition, this day is auspicious as people from Ayodhya bought gold and jewellery to offer to their Tirthankara Rshabhdev who was the King of Ayodhya centuries ago. Even today Jains observe long term fast to commemorate their first Tirthankara Rshabhdev and break their fast on Akshaya Tritiya day with sugar cane juice just as Rshabhdeva broke his fast with that juice after one year.
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Propitious Timings To Buy Gold On Akshaya Tritiya
Buying gold is the most important ritual on Akshaya Tritiya apart from performing charitable deeds and worshipping Lord Vishnu. As per Vedic Astrology, there are three Vijay Muhurats Yugadi, Akshaya Tritiya and Vijaya Dasami occurring each year, which are considered highly auspicious and free from any malefic effect. These three lunar days are extremely favorable and do not need any muhurtha for commencing new ventures. Of these three days, Akshaya Tritiya is given high importance to buy gold and accrue the blessings of Goddess Lakshmi in the form of undiminishing wealth and prosperity.
The Akshaya Tritiya 2021 Tithi Will Begin On Friday May 14 At 538 Am And Will Prevail Till Saturday May 15 At 759 Am
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Akshaya Tritiya, which is also known as Akha Teej, will fall on Friday, May 14 this year. The day is considered highly auspicious and holy by Hindus. The Shukla Paksha Tritiya Tithi of Vaishakha month is observed as Akshay Tritiya. The word Akshaya means never diminishing and hence the day is believed to bring good luck and success. It is believed that any Japa, Yajna, Pitra-Tarpan, Dan-Punya performed on this day never diminish and stays with the person forever. According to Hindu mythology, Treta Yuga began on Akshaya Tritiya.
As the day is considered very auspicious, it is also said that purchasing gold on this day brings prosperity and wealth to the family. It is believed that the yellow metal bought on this day never diminishes and continues to grow and bring wealth. The day is ruled by Lord Vishnu.
As per Hindu scriptures, Akshay Tritiya, Yugadi, and Vijaya Dashami are the most auspicious timings to undertake new tasks/project as these three days are free from all malefic effects. Know about the Tithi, auspicious timings to buy gold, and other details of the day.
Akshay Tritiya 2021: Tithi and timings
New Delhi: 5.38 am to 12.18 pm
Mumbai: 6.04 am to 12.35 pm
Chennai: 5.44 am to 12.05 pm
Ahmedabad: 5.59 am to 12.36 pm
Hyderabad: 5.44 am to 12.12 pm
Bengaluru: 5.55 am to 12.16 pm
Kolkata: 4.56 am to 7.59 am on May 15.
Jaipur: 05.40 am to 12.23 pm
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Why Buying Gold Brings Good Luck On Akshaya Tritiya
According to Sanskrit Akshayya is a term that means never diminishing. This the day when you should invest in something that never diminishes in terms of value. And what can be a better investment than gold? As per the Indian traditions Akshaya Tritiya is considered to be a date and an occasion when buying gold items like a gold bar or gold biscuit enhances your luck and brings greater prosperity and well being to you and your family. If you are wondering about the places from where to buy gold or where you can get a pure gold coin in India, then simply reach Kundan and fulfill your wish. When is Akshaya Tritiya?
This occasion is also known as Akha Teej or Akti and falls during the spring of every year. This is a festival that has a special eminence to the Jains and the Hindus. The day generally falls on the third lunar day of the bright half in the month of Baisakh. This day is often denoted as the third day of never-ending well being and prosperity. This is a day that falls in either April or May of every calendar year. Akshaya Tritiya A Lucky Day for Buying Gold There are many beliefs that profess the idea of purchasing gold on Akshaya Tritiya. Of course, there are different theories that explain and justify this practice. Let us take a look at the different reasons why buying gold on Akshaya Tritiya 2019 is auspicious:
The Lockdown At Several States This Year Due To The Covid
Akshaya Tritiya is considered as an auspicious occasion of buying gold. The lockdown in several states this year due to the Covid-19 pandemic, however, has dampened the mood of gold buyers this Akshaya Tritiya.
There are several ways of investing in gold Physical Gold, Sovereign Gold Bond , Gold Mutual Fund , Gold ETF, Digital Gold etc.
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What The Trends Show
For instance if you look at the above chart the peak price highlighted in blue during November is a clear indication of gold prices getting a boost during Diwali season. Since India is one of the major consumers of gold, domestic trends also impact global prices.
What if you bought in Akshaya Tritiya ? Incidentally you make an excellent decision because going by the chart above, prices have not fallen since last Akshaya Tritiya. However, if we look at past data for the last 5 years there have been occasions when prices have dropped after Akshaya Tritiya, so its not right to assume that Akshaya Tritiya is the best time to buy.
2007 Gold Story: The blue ring shows the prices during Akshaya Tritiya in 2007. Prices have dropped after that season, but later recovered in September, and had a good run up in Diwali and later. But 2007 bull run had to pause and consolidate in 2008.
2008 Gold Story: This was a good year when Gold crossed the landmark $1000 mark for the first time. Even though prices were down before Akshaya Tritiya, the situation worsened by September-November when large financial institutions including Lehman Brothers, AIG and others were facing crisis, which had a global impact.
Should You Buy And Invest In Gold This Akshaya Tritiya
Should you buy and invest in gold this Akshaya Tritiya?
Gold lovers are looking for auspicious day Akshaya Tritiya on 21st April to buy gold or gold jewelry. As an investor, you might be wondering, what should you do now? Gold jewelers are now offering huge discounts on wastage and making charges. Should you buy and invest in gold this Akshaya Tritiya? While you may wonder whether gold saving schemes would really benefit you, what are the some of the facts that would influence your decision if you are an investor?
How gold price is getting affected during Akshaya Tritiya?
While buying gold on Akshaya Tritiya is good, but as an investor, you might be thinking how gold prices are fluctuating during that time. See below table on how gold prices are affected during the 1 week after Akshaya Tritiya and 1 month after Akshaya Tritiya. What do you see here? You saw that last year, gold prices have fallen to 10% after Akshaya Tritiya. However, only 1% fall in prices after 1 week.
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Important Facts about gold prices during Akshaya Tritiya in last 10 years
What are the factors which would influence gold prices in future?
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Buying Gold After Akshaya Tritiya
Gold has always been one of the most popular forms of investment. The obsession with buying gold goes a long way in history. Investors race to the yellow metal in a flight to quality, as a means to protect wealth, a hedge against inflation and as an insurance against extreme movements in other asset classes.
The month of April/May seems to be a good season for the precious metals industry, particularly for jewelers who sell gold. Akshaya Tritiya is known to be an auspicious day that brings good luck and success. According to Hindu mythology, on this day the Treta Yuga began and the river Ganges, the most sacred river of India, descended to the earth from the heaven .
The word Akshaya means never diminishing, which means any action you do will result in a positive or constructive outcome. In simple terms any new initiative/venture started on this day will have a good future.
Timings To Buy Gold On Akshaya Tritiya
Gold is the most precious metal since Vedic time. It is the symbol of power, wealth and the prosperity. In Hinduism, the wealth, including gold and jewels, can be accumulated with the blessings of Goddess Lakshmi. Goddess Lakshmi is the consort of Lord Vishnu. Goddess Lakshmi herself dwells in the heart of Lord Vishnu.
The day of Akshaya Tritiya is blessed by Lord Vishnu. On the day of Akshaya Tritiya, Lakshminarayana form of Lord Vishnu is worshipped with full devotion. In Lakshminarayana form Lord Vishnu is worshipped along with Goddess Lakshmi. Hence the day of Akshaya Tritiya is linked to Goddess Lakshmi.
Buying gold is the most important ritual which is performed on the day of Akshaya Tritiya. The demand of gold, surges on the day of Akshaya Tritiya. It is believed that gold bought on the day of Akshaya Tritiya brings everlasting prosperity and stays in the family for generations to come. Hence people wait for the whole year for just few days to buy gold and other precious metals. Akshaya Tritiya and Dhantrayodashi are the two most significant days in Hindu calendar to purchase gold. Apart from these two days, Pushya Nakshatra days are also considered auspicious to purchase gold.
Although special gold coins are casted for these special occasions, the traditional female jewelry is in the most demand during Akshaya Tritiya. The most shopping during Akshaya Tritiya is done by female folks who are considered the Griha Lakshmi of their home.
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Issues With Auspicious Seasons
Buying gold on the day of Akshaya Tritiya Few Tips
- Buying at Peak: The prices can zoom to astronomical levels for few days or weeks forcing you to buy at peak levels.
- Opportunity to Buy Low can be lost: You also miss the opportunity to buy gradually/systematically at different time periods when prices are down.
- Liquidity: In case you want to sell immediately after buying you may not be able to do that. Instead you may have to wait for a long time or till next season to sell at a good price
- In times of crisis, buying gold is safest which has the greatest potential to increase your wealth.
- Gold is a portable, private and anonymous investment option.
Top 3 Reasons To Buy Gold On Akshaya Tritiya
Akshaya Tritiya is one of the most auspicious festivals of Hindus. Today, Lord Vishnu, Lord Shiva and Lord Ganpati is worshipped in order to live a wealthy and abundant life. Buying gold on Akshaya Tritiya is an age-old tradition and most of the Hindus wait for Akshaya Tritiya to invest in gold and to buy gold.
Akshaya means eternal or never diminishing and it is believed that guying gold on this day bring eternal wealth to ones life. It is also believed that any venture launched on this day brings good luck and success along.
Here are the 3 surprising reasons to buy gold on Akshaya Tritiya:
Frequently Asked Questions:
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Purchase Now And Take Home Later
Since in parts of the country, the movement of goods is restricted, jewellers are also providing the customer of buying their gold now and taking it home on a later date when the lockdown is lifted. this option enables people to still buy gold on the same day as Akshay Tritiya so tenets of the concept of the festival – luck, wealth, prosperity – are still adhered to.
Invest In Gold Bonds From Exchanges
Investing in gold bonds is considered to be one of the most sound investments. You can buy tonnes worth of gold in each tranche, in paper or digital forms from the stock exchanges: BSE and NSE. This Akshaya Tritiya is certainly one of the most auspicious times to buy gold, as it was reported Gold price today is down by near 4.39 percent from its opening price of 50,180 in 2021. However, the price of gold doesn’t stay down for long. It is expected to go up. So it’s a great time to buy low and sell high, people.
We hope the above ways come in handy when you plan to buy gold on this auspicious festival. Speaking of auspicious, we cannot do away with the importance of buying gold adhering to the auspicious timings. So while we do know Akshaya Tritiya will be celebrated on Friday, May 14, the best time to purchase gold as per Drik Panchang is from 5:38 am on May 15 to 5:30 am on May 15!
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Reasons To Buy Gold In Akshaya Tritiya
The word Akshaya depicts never diminishing or never-ending and hence Gold is considered to be one such material existence that will never diminish. According to astrology as well as tradition, if one invests in gold on this day he is besieged with an abundance of prosperity and wealth. If we go deep into the roots of our fascinating Hindu mythology, then we can definitely trace the sources of this gold possession on Akshaya Tritiya.