Markets set to expect surge on Monday
Posted on: 13/May/2013 5:39:33 PM - No. of views : (1676)
Stock exchanges and mutual funds across the country have been waiting for Monday to cash in on the expected surge in purchases. Monday is Akshaya Tritiya which is considered an auspicious day to buy gold. The expectation is more so in the wake of the massive decrease in the international price of gold.
CEO of Reliance Capital Asset Management Sundeep Sikka said, �The recent price correction is an ideal opportunity for retail investors to buy gold ETFs or invest in gold FoFs. Investment in gold
helps one diversify portfolio and earn higher risk-adjusted returns� The recent dip in gold prices has already led to higher jewellery demand from the price-sensitive Indian investors. Investing in physical gold, however, is expensive. Perhaps, an individual can easily invest in gold ETFs or gold fund of fund and liquidate it with a much lesser impact cost. We expect the Akshaya Trithiya festive demand to be much better this year.�
