look news india
Gold and silver investment on Akshaya Tritiya: Akshaya Tritiya is a symbol of good luck, prosperity and success. On the occasion of this festival, people do auspicious work, start new businesses, get married, buy precious things like gold and silver. Akshay i.e. immortal is the belief that good deeds done at this time remain beneficial and fruitful throughout life.
The skyrocketing prices of the precious metal in the last six months have left investors and gold and silver buyers confused. But investment decision can be taken from its past returns and price data.
Double digit returns in gold and silver
So far this year, gold prices have increased by 13 percent and silver prices have increased by 11 percent. According to a report by Motilal Oswal Financial Services, in the last 15 years, gold has given an annual return of 10 percent and silver has given an annual return of 7 percent. Whereas bullion experts say that the price of gold has increased to Rs 200. And silver Rs 75000. It is advised to buy with a target of Rs 1 lakh. On Comex, gold is likely to rise to $ 2450 an ounce and silver to reach $ 34 an ounce.
Two main factors for the rise in gold and silver
1. Geopolitical crisis: Safe haven prices have witnessed an increase due to geopolitical crises like Russia and Ukraine, Israel-Hamas, Israel-Iran and others.
2. Fed Monetary Policy: The market has increased the possibility of interest rate cuts by the US Federal Reserve in the near future. Due to which the prices of gold and silver will increase.
Gold reserves increased by central banks
Considering the current factors, central banks are increasing purchases of gold. 290 trillion gold assets. Central banks of Türkiye, China and India made record purchases of gold in the first quarter. Which shows that the price will increase in the near future.
10% annual return on purchases made during Akshaya Tritiya
In the last 15 years, gold has seen an annual return of 10 percent. Despite price fluctuations, purchases made on Akshaya Tritiya have yielded an average annual return of 10 percent.
This is the best opportunity to invest in Sovereign Gold Bond
Investors and people interested in buying gold and silver can get fixed returns by investing in Sovereign Gold Bonds instead of physical gold. In which investors get 2.5 percent additional interest every year. Apart from this you can buy gold ETF, digital gold and physical bars and coins.