Buying gold on Akshaya Tritiya is considered auspicious. This time is considered right for investment because due to the confidence of investors, it can reach the level of 60 thousand in the coming days.
Invest in gold on Akshaya Tritiya
According to Hinduism, buying gold on Akshaya Tritiya is considered auspicious. This time this festival is on 14 May. In such a situation, if you are planning to invest in gold, then this can be a perfect opportunity for you. According to experts, there may be a surge in the price of gold on Akshaya Tritiya. Also, it can give better returns in two to three months. Therefore, investing in physical gold, bonds or ETFs can be a profitable deal.
According to the estimates of market experts, gold can go from 55 to 60 thousand rupees in the next one year. If you look at the return history of the last 10 to 11 years, then there is a sign of further rise in gold. After May, it will stabilize and from June, July and August, one can get good returns through gold. At this time, the price of gold in the domestic market is close to 47 thousand. Despite the Corona epidemic, investor confidence remains. In such a situation, investing in gold is considered a safe option.
Get good returns in two to three months
According to market analysts, in the medium term, gold prices can cross the level of 50 thousand rupees. You will find it cheaper to invest in gold for the next two to three months from Akshaya Tritiya. So this time is good for investment. After three months you can get good returns from this.
The right time to invest in gold
Due to the fall in US Yield and weakness in US Dollar, investors are getting attracted to Gold globally. Due to the rise in the price of gold at the global level, it is also having an impact in the domestic market. Central banks are also buying gold, which has supported its price. According to SBI’s EcoRAP research report, the condition of corona epidemic in India is expected to improve by October. In such a situation, this is the right time to invest in gold.
Opportunity to get returns of up to 13 thousand
In August last year, gold reached a record level of 56 thousand. At this time, gold is being available at a discount of about 9 thousand rupees. In such a situation, this is the right time for investment. In the coming year, gold can cross the level of 55-60 thousand. With this, investors can get returns of up to 13 thousand.
Gold bonds and ETFs are also a better option
If you are confused about the purity of gold or do not want to buy it for fear of theft, then gold bond or ETF is a better option for you. In this, you do not have to buy gold coins or jewelery. You can invest in sovereign gold bonds issued by the government. There is a lock in period of 8 years, that is, before this you cannot withdraw money from it. But after the lock-in period, there is 2.5 assured returns along with income tax exemption on maturity. To invest in this, you have to buy at least one unit i.e. 1 gram of gold.
The Gold ETF is an open-ended mutual fund. Its price varies with the falling and climbing of gold. Purchasing charge is less as compared to physical gold. In this, the investor gets a guarantee of 100 percent gold purity. You can also invest in it through SIP.
Also read: PPF or NPS, which scheme is beneficial for higher returns, in which money will be safe and tax will be exempt, know details
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