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Why Should We Buy Gold On Akshaya Tritiya

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Akshaya Tritiya Falls On May 14 2021 Sovereign Gold Bonds Gold Etfs And Gold Mutual Funds Are Some Ways To Buy The Yellow Metal Electronically

Should you buy gold on Akshaya tritiya? What should we do on this day?Akshaya tritiya prominance.

Indians love to buy gold, especially on Akshaya Tritiya. Now, gold exchange-traded funds and sovereign gold bonds issued by the Reserve Bank of India are attractive modes of investing, as the payoff is in line with movements in gold prices. In the backdrop of the raging COVID-19 pandemic and economic slowdown, investors can buy gold as part of their overall asset allocation through these instruments rather than as jewellery, especially as shops may be shut due to lockdowns.

Demand for gold is back

In the first round of lockdown in 2020, gold mines were shut and recycling was also hit. That pulled down the supply for gold. But at the same time, gold demand also decreased, as jewellery shops too were closed. But later, investment demand drove the prices in the first half of CY2020. However, in the second half, the investment demand in gold declined. Gold prices marked a low of Rs 44,106 per 10 gram on March 31, 2021.

In recent months, economies around the world have slowly opened up. India imported 321 tonnes of gold in the quarter ended March 2021, up from 124 tonnes a year ago. Investors are slowly accumulating gold. For example, gold ETFs saw net inflows of Rs 662 crore and Rs 680 core in March and April 2021, respectively.

Why Is Akshaya Tritiya A Day For Gold In India

Why is Akshaya Tritiya a day for GOLD

India is probably the only country where a religious day is linked to a practice of gold buying. It is the golden day of Akshaya Tritiya and we are talking tons of gold here.According to estimates, Indian consumers bought about 20 tonnes of the gold on thisfestive day in 2010.

However this was much lower than the buy in 2009 due to soaringprices when India, the worlds largest consumer of the yellow metal, bought some 45tonnes of Gold in 2009. So what makes Akshaya Tritiya a day for GOLD?

According to gold industry pundits, in 2011 GOLD is all set to offer fourth best returns toinvestors in last 10 years as it has so far gained 18 per cent in price since the festival day last year.

For Indians buying gold is a popular activity on Akshaya Tritiya day, as it is the ultimate symbol of wealth and prosperity. According to the Hindu calendar, this most auspicious Akshaya Tritiya day falls on Friday next week. This year the date of Akshaya Trithiya is Friday May 6.This day is important to both Hindus and Jains. According to the traditional panchang Akshaya Tritiya falls on the third day of the new moon of Vaishakh month every year.

Buying Gold Is A Popular Activity On Auspicious Day Of Akshaya Tritiya Which Is Regarded As A Symbol Of Wealth And Prosperity

Harsha Jethmalanimoneycontrol.com

Given their love for gold Indians need no excuse to buy gold. But today is different. Most of our relatives and friends would be queuing up in front of jewellery shops to buy gold. And why not its Akshaya Tritiya, the most auspicious day of the Hindu Calendar.

No matter how small the quantity, buying the precious metal would be on the priority list of many. And the fact that gold prices have corrected after their massive bull run, it is like icing on the cake!

Akshaya Tritiya aka Akha Teej falls on the third day of Vaishakh month . Today both the Sun and Moon will be at their brightest point. Traditionally, this day also marks the birthday of Lord Parasurama.

But how many of us know the reason why we buy gold particularly on this day?

‘Akshaya’ means infinite or never-ending. Hence, Hindus believe that good deeds/new ventures done on the auspicious day of Akshaya Tritya will bring immense good luck and success.

Akshaya Tritya is considered as a symbol of wealth and prosperity. Weddings, thread ceremonies, start of new ventures, long journeys are generally planned for this day.

Experts tracking the price movement of this yellow metal believe it will correct further . But the array of discounts and schemes offer by jewellers today can make it difficult for investors to resist.

Retailers are betting big on this Akshaya Tritiya, they expect jewellery sales to soar by 40 percent on the back of weak gold prices. .

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Investments In Gold Or Other Precious Metals Protect You From The Risks Of Inflation It Has Been Noticed That Gold Has Outperformed The Inflation Rate Over The Years And Has Served As An Inflation Hedge In The Long Run

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Akshaya Tritiya 2019 | Gold can never go out of fashion for investors. No matter which country you stay in, what your age is, which economic class you belong to, what profession you pursue–anybody who thinks of savings and investments has always given gold a thought, especially on days like Akshaya Tritiya, which is considered to be an auspicious occasion for buying the precious metal.

This year, Akshaya Tritiya will be celebrated in India on 7 May. And if you are confused whether you should buy gold or not, we can help you make a decision. Read below to understand the key benefits of gold as an asset class:

— Investments in gold or other precious metals protect you from the risks of inflation. It has been noticed that gold has outperformed the inflation rate over the years and has served as an inflation hedge in the long run. The annualized return of gold over 10 years has been way higher than that of inflation, which means that the yellow metal has given individuals a real rate of return.

— Gold is a highly effective portfolio diversifier due to its low-to-negative correlation with all other major asset classes. However, there is some evidence that when equities are under stress, an inverse correlation can develop between gold and stock markets. So gold can protect your portfolio in times of volatility.

Increase In Gold Buying Ahead Of Akshaya Tritiya

Why should we Buy Gold on Akshaya Tritiya

There has been an increase in gold buying ahead of Akshaya Tritiya 2018, which falls on 18th April, 2018. Customers have resorted to booking gold in advance as a hedge against a further rise in price as gold has surged in recent days.

There has been close to 50% increase in footfalls over the past few days as customers are also buying prior to the wedding season that will begin later in the year.

Considered one of the most auspicious days in the year, Akshaya Tritiya sees Indians buy gold in celebration of the festival. In addition to jewellery, an increase in orders for gold coins.

Jewellers are looking at higher sales figures this Akshaya Tritiya due to positive market cues and a steady increase in goldâs value.

14 April 2018

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Akshaya Tritiya : Occasion Believed To Usher In Prosperity Check Auspicious Timings To Buy Gold

Commodity experts have said that Akshaya Tritiya is a good time for investors to purchase gold as its price has dipped at the Multi-Commodity Exchange

Representational image. AP

Hindus will be celebrating the festival of Akshaya Tritiya on Friday, 14 May, a day when devotees to purchase gold with the belief that it is going to bring them prosperity and fortune. The day is believed to be ruled by Lord Vishnu who is the sustainer aspect of Gold in the Hindu Trinity.

Also known as Akha Teej, it is considered that the benefits of performing prayers on Akshaya Tritiya will remain with the devotees forever. Purchasing gold is also a part of the belief that if wealth and prosperity are acquired on this day then it will remain with the person forever.

The Akshaya Tritiya 2021 tithi begins on Friday, 14 May at 5.38 am and ends on Saturday, 15 May at 7.59 am. The puja muhurat will be from 5.38 am to 12.18 pm on 14 May.

The auspicious timings to purchase gold on Akshaya Tritiya 2021 in different cities are:

New Delhi: 5.38 am to 12.18 pmMumbai: 6.04 am to 12.35 pmChennai: 5.44 am to 12.05 pmAhmedabad: 5.59 am to 12.36 pmHyderabad: 5.44 am to 12.12 pmBengaluru: 5.55 am to 12.16 pm

In Kolkata, the date and time to purchase gold are on 15 May from 4.56 am to 7.59 am.

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Buy Digital Gold On Akshaya Tritiya

Today is Askhaya Tritiya. Akshaya means eternal and many people believe that if they buy precious things like gold, they will be blessed with affluent wealth.

Those who cannot afford lots of gold can buy at least a gram of gold to get the divine blessings.

There are many stories associated with Akshaya Tritiya.

Whatever legend was associated behind the tradition of buying gold, it is quite common for Indians to buy gold on this auspicious day.

Though majority of Indian women visit jewelry shops and buy ornaments, some feel buying digital gold is better in terms of security.

Keeping your gold at home is risky. You have to keep them in bank lockers for which you have to pay rental charges to bank.

Moreover, ornamental gold is bought at higher prices by adding making charges and wastage charges.

After some time, the old gold is sold at a different rate.

Even, the gold shops that are ready to buy, does so at a reduced price saying that the ornament has impurities in it.

Considering all these points, it is better to buy digital gold. First of all it is less risky.

Secondly, it is available for lower price than the ornamental gold and finally you can get the when you sell your digital gold.

Indian government introduced few digital gold schemes.

Sovereign gold bond is one such good scheme.

The bond of one gram is available for almost 90 lower than ornamental gold. You can also get interest on these bonds.

Image by Matthias Wewering from Pixabay

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Should You Buy Sgbs Digital Gold Or Etf This Akshaya Tritiya On 14 May

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  • Rising inflationary trends should be conducive for gold, implying investment demand for the yellow metal will likely increase in the coming months, said analysts

Akshaya Tritiya has become synonymous with gold buying. You can use the occasion to add gold to your portfolio. According to investment advisors, investors should have a 5-15% allocation to gold, depending on their preference for the yellow metal.

According to analysts, gold prices could rise going forward. “Rising inflationary trends should be conducive for gold, implying investment demand for the yellow metal will likely increase in the coming months,” said Hitesh Jain, lead analyst institutional equities, Yes Securities.

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Motilal Oswal Financial Services echoes similar views on gold prices in its Commodity Insight report. The brokerage expects prices to reach 50,000 per 10 grams in the near term and estimate them to be 56,500 per 10 grams or more over the next 12-15 months.

It lists several factors for its estimates. According to the report, market participants are cautiously watching the falling dollar, higher US treasury Yields, exchange-traded fund demand picking up and falling global interest rates.

Amid the lockdown in several states have imposed lockdown. If you are planning to buy gold digitally, here are some options you can explore.

SOVEREIGN GOLD BONDS

DIGITAL GOLD

EXCHANGE TRADED FUNDS

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Options For Gold Buyers In This Covid

Akshaya Tritiya 2018: Know why you should buy gold this Akshaya Tritiya

1 min read.Asit Manohar

  • During Covid-19, India has gone digital at a faster rate and this is the second consecutive year when the nation is celebrating Akshaya Tritiya amid fear of Covid-19 pandemic

Amid fear of Civid-19 for second consecutive year, Akshaya Tritiya 2021 celebrations are underway. As buying gold on this day is considered auspicious, one would definitely look to buy the yellow metal today. However, amid Covid restrictions and ensure social distancing, it won’t be easy to buy physical gold. In such a challenging scenario, buyers have some other options that they can think of looking at. Those gold options are gold fund, gold ETF and e-gold.

Speaking on the gold options that one can look at in this Covid-hit Akshaya Tritiya Kartik Jhaveri, Director Wealth Management at Transcend Consultants said, “During Covid-19, India has gone digital at a faster rate and this is the second consecutive year when the nation is celebrating Akshaya Tritiya amid fear of Covid-19 pandemic. Last year, a good number of people had gone for the digital gold options and once again I would advise gold buyers to go for those options like gold funds, gold ETF and e-gold.” Jhaveri said that these alternatives of physical gold would help gold buyers to celebrate Akshaya Tritiya 2021 without jeopardizing their Covid-19 safety orms.

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Akshaya Tritiya 2021 Gold Offer: In Stead Of Going Out Gold Buyers And Investors Can Opt For Digital Or Paper Gold Instead Of Physical Gold Sitting In The Comfort Of Homes

New Delhi: Akshaya Tritiya 2021 is being celebrated across India amid Covid pandemic today. Akshaya Tritiya is considered as an auspicious occasion to buy gold. Every year the occasion drives demand for gold in India. However, these are tough times as the onslaught of Coronavirus and lockdown like restrictions have put a barrier. But, this should not dampen the spirit of Akshaya Tritiya 2021 as there are other ways one can buy gold and invest in the precious metal.Also Read – BCCI AGM Festival Match: Jay Shah Wrecker-in-Chief Team Ganguly Falls Short by One Run

Due to the rapid rate of Coronavirus infections, it is advisable that investors and gold buyers must not step out to purchases gold or visit jewellery shops. This means that physical demand for gold is likely to be affected on Akshaya Tritiya 2021, experts were quoted as saying by IANS. Also Read – Soldier Found Dead Inside Army Camp in Srinagar

In stead of going out, Gold buyers and investors can opt for digital or paper gold in place of physical gold sitting in the comfort of homes. Also Read – Did Vicky Kaushal Confirm His Wedding With Katrina Kaif? Watch Viral Video of Him at Kat’s Home

Heres Why Akshaya Tritiya Is Considered An Auspicious Time To Buy Gold

Did you know that India is the second largest consumer of gold in the world? Over the past decade, the countrys average gold demand has been over 800 tons. The reason for this high demand can be justified by our immense love for the precious metal. Indeed, Indians buy gold for all kinds of celebrations. One festival thats especially auspicious for buying gold is Akshaya Tritiya.But why exactly is this considered the right time to purchase gold? Here are some of the most popular reasons.

  • They are purchased and sold at the same rate across India, giving them an edge over jewellery.
  • There is complete transparency in prices, and these funds can be traded at any time through a broker.
  • The trading activity is closely monitored by the Securities Exchange Board of India .

In addition to all this, you dont have to worry about storage and safety as you hold these funds through Demat. They can even be used as collateral and redeemed at any time, in either monetary or physical form. If you wish to get the best out of gold ETFs, start investing in them right away. All you need to do is open a Demat account with HDFC Bank. Not only is this a quick process, theres no account opening charge, which makes it all the more attractive. You can also use your demat account to link to other investment options. So, this Akshaya Tritiya, resolve to start a new and prosperous investment in gold ETFs for a better and brighter future!

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Auspicious Timings To Buy Gold On Akshaya Tritiya 2020

Traditional wisdom lays emphasis in the selection of muhurtha for any activity. It is highly important to choose the right time, favorable day and Nakshatra to commence any propitious activity to reap fruitful results. Gold has a traditional significance amongst the Hindu community and there are auspicious timings to buy this precious metal.

Akshaya Tritiya : Why People Buy Gold On This Day

Akshaya Tritiya 2018

Akshay Tritiya, also known as Akha Teej, is considered one of the most auspicious Hindu festivals. It falls on the Tritiya Tithi of the Vaishakha month of Hindu calendar during Shukla Paksha . As per the Gregorian calendar, the festival falls in the month of April or May every year.

As the Sanksrit name of the festival literally translates to the day that brings eternal joy, success, and happiness in life, religious ceremonies performed in the form of Japa, Yajna, Pitra-Tarpan, Dan-Punya prove beneficial and bestow everlasting prosperity and success.

People consider buying gold as shubh or auspicious on this day. As gold symbolises wealth and a valuable asset, people believe investing in gold on this day promises eternal fortune and never diminishing wealth. Moreover, people start new ventures or invest in huge assets on this day as no Muhurat is required to commence new businesses for the entire day is believed to bring prosperity and good luck.

It is believed that on this day, the sun the king of all planets and moon- the lord of creativity shine brighter. As they are believed to be at the peak of their radiance, the day is also supposed to be promising for new marriages and building new relationships.

Tritiya Tithi begins at 5:38 am on May 14 and ends at 07:59 pm on May 15, 2021. The auspicious muhurat to purchase gold is from 05:38 am on May 14 till 05:30 pm on May 15.

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