Gold investment in India has a deep-rooted cultural significance, with people emotionally attached to buying gold on auspicious occasions like Akshaya Tritiya. As this year’s Akshaya Tritiya approaches on May 10, investors are eyeing the opportunity to invest in gold for prosperity and good luck.
Tapan Patel, a Fund Manager at Tata Asset Management, emphasizes gold’s role as a hedge against inflation and economic uncertainty, making it an attractive investment beyond just jewellery consumption. Akshaya Tritiya holds special significance and is believed to be one of the most auspicious days of the year, with the term “Akshaya” symbolizing never-decreasing prosperity.
Historically, gold prices have shown stability or an increase around Akshaya Tritiya due to heightened demand driven by cultural and religious sentiments. Investors are seeing potential profit opportunities from gold price appreciation, as it offers stability and diversification during economic uncertainty.
Last year, the price of gold stood at ₹61,300 per 10 grams on Akshaya Tritiya in Delhi, with this year’s price hovering around ₹71,700. The yellow metal has delivered a one-year return of 19%, outperforming key benchmark indices like the Nifty 50 and Sensex.
Experts believe that the current market environment and religious beliefs favor gold investment, with prices recently hitting all-time highs. Different forms of gold investments such as coins, bars, ETFs, sovereign gold bonds, and Digi-Gold are available for investors to explore.
As Akshaya Tritiya draws near, investors are urged to conduct thorough research before making gold investments. Despite market fluctuations, the essence of Akshaya Tritiya remains unchanged, signifying good fortune and new beginnings, making it the perfect time to celebrate the true value of gold.
