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Is Akshaya Tritiya the right occasion to invest in gold?
Posted on: 17/Apr/2018 12:11:10 PM
There is a widespread belief that buying gold on the day of Akshaya Tritiya will bring wealth and prosperity to the family. However, this is only the people conviction. On the other hand, if we really analyse this, a question arises as to whether buying gold on this occasion would bring the growth of wealth.
A prominent question to be raised – what is the profit earned for the gold invested in the past 20 years?
Around 20 years ago, the investment in gold yielded an annual revenue of 10.5%. Around 15 years, this came down and the return on gold was an annual gain of 8.89%,
Around 10 years ago, this had further come down to 5.82%. 7 years ago, it was 3.45%, 5 years ago, this came down further to just 3.46%.
Around 3 years ago, the yield on the investment in gold was 4.68%. The expert financial consultants observe that even the risky ventures like investment in share market and even the bank interest on saving are much more than the figures given above for investment in gold.
Apart from all other factors above, the price of gold is usually higher during the occasion of Akshaya Tritiya is higher than usual. When a question is asked whether the gold price will increase in future, the answer is that this will depend basically on the international economic factors including the price of crude oil.
So, if we analyse the investment on an economic angle, the financial consultants come up with the observation that the occasion of Akshaya Tritiya and the investment in gold and the supposed prosperity is all a question.
