It’s Akshaya Tritiya, a very auspicious day as per the Hindu calendar. It’s popularly believed that the purchase of an asset (be it gold or property) on Akshaya Tritiya, will bring in prosperity. Jewelers see massive business on Akshaya Tritiya Day. Akshaya Tritiya 2017 was good for jewelers. Major jewelers like Malabar Gold and Diamonds, Anmol Jewelers and Tanishq, are expecting 20-30% higher gold jewelry sales, compared to Akshaya Tritiya 2017.
Now to the big question. Should You Buy Gold This Akshaya Tritiya? Want to know more on gold ETFs? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
Prominent jewelers are expecting massive sales this Akshaya Tritiya. This is because Akshaya Tritiya 2018 coincides with the wedding season. The Met Department has forecast a normal monsoon. This means citizens residing in rural areas, are expected to buy a lot of gold this Akshaya Tritiya, as prospects of a good harvest go up.
Jewelers are offering good discounts this Akshaya Tritiya, to lure you and other buyers to purchase gold this festive season.
SEE ALSO: When Should You Go For A Gold Loan?
Akshaya Tritiya is a great day to buy gold and whether you like it or not, a number of urban and rural citizens will be buying a lot of gold and gold jewelry. But, should you buy gold as an investment? Over the last 3 years, gold has given returns of 4.68%. Surely, you can find an investment which gives more than this.
Let’s take a look at the returns from Gold ETFs this past year. IDBI Gold ETF gave the maximum returns at 6.42%, while ICICI Prudential Gold ETF Fund gave the lowest returns at 4.98%. Fixed Deposits gave returns in the range of 6-7% a year.
What do you learn from this? Gold ETFs gave lesser returns or were just able to match the returns from FDs. Neither gold nor residential property nor debt did too well. It would be wise to invest money in equities, if you can bear risk. Hybrid funds which invest in a mixture of debt and equity are a good investment, if you can’t bear much risk. The equity portion gives good returns and debt protects the investment. What about buying gold for daughter’s marriage? Well, if the marriage is 2-3 years away, you must buy gold during Akshaya Tritiya. It doesn’t make sense to buy gold, 10-15 years in advance.
Your personal portfolio should have at least 7-15% of investment in gold. This would be a hedge against inflation. Why not buy gold this Akshaya Tritiya to balance your portfolio? Be Wise, Get Rich.
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.