Gold is the second largest importer of the world in India due to the Akshaya Tritiya festival in April, there is an increase in demand for gold.
But if you look at the figures then this year’s Akshaya Tritiya can be the most expensive gold prices.
On April 11, the price of 24 carat gold crossed Rs 31,524 per ten grams.
However, on April 17, there was a slight decline in the price of gold. But according to experts, buyers will continue to buy gold constantly.
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Why are gold prices rising?
Kunal Shah, head of Commodities and Currency Research firm Nirmal Bang, says, “Uncertainty about monetary policy, uncertainties related to the geopolitical crisis and the worries related to the rise in inflation in Western economies, by the end of March 2018, gold bought at $ 1450 globally. But before March 2019, it will touch $ 1600. ”
Gold is always considered as a great option for investment. This is the year of global uncertainties, the United States is threatening to trade with China, tensions in Syria are increasing.
In such a situation, investors are taking cautiously to put their money in some other place. And in this way they are planning to invest in gold, which is increasing the gold prices around the world. This will affect the country like India too.
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How is gold in India
After the ban on banknotes and GST in India, the demand for gold declined.
Gold imports decreased by 40 percent in March to $ 2.4 billion in March.
Because of this, this industry had a bad effect. But there is hope that now the demand for gold may be booming.
Because of the good monsoon, the income of the farmers has improved, which can increase the demand for gold in the festive season.
Two-thirds of the total demand of gold in this country comes from rural India.
On the occasion of Akshaya Tritiya
If you look at the gold prices in the last few years, then it can be seen that 2018 is the most expensive year in that sense.
In 2010, when Akshay Tritiya fell on May 16, you could buy 10 24 gram carat gold at a rate of 18,167 rupees per ten grams.
But in the last year this rate has increased to Rs. 29,890 per ten grams.
28 April, 2017 – 28,861
May 9, 2016 – 29,860
21 April 2015 – 26,938 rupees
May 2, 2014- 28,865
May 13, 2013-26829
April 24, 2012 – 28,852
May 6, 2011 – 21,736
May 16, 2010 – 18,167 rupees
Sincerely: Goldpriceindia.com (per ten grams of the price)
The right time to buy gold
The good thing here is that if you had bought gold before, you could see an increase in your property.
The question is whether it is the right time to buy gold. Experts are divided on this issue.
Gnanasekar Tyagarajan, director of Comtrendz Research, points out, “There is a perception of selling gold among people on the figure of Rs 30 thousand, but now prices are stabilizing.”
“I believe gold prices will climb up by the end of this year, so buying gold on this Akshaya Tritiya can be okay because now prices will go up.”
At the same time, Vandana Bharti of SMC Global Securities has told , “At this time the market environment is different, I recommend waiting for a few months, September and October may be a good time for shopping because prices are up 5- 6 percent may fall. ”