Know how the historical performance of gold has been.
Akshaya Tritiya 2022 Gold price: Sanyam Mehra, Vice Chairman of Gold and Jewelery Council said that last year gold on Akshaya Tritiya was close to 55000. Currently it is at 51000. The demand is also strong, so this festival is expected to be good.
Third day of Akshaya ,Akshaya Tritiya 2022) But buying gold is considered auspicious. This year this festival is on 3rd May i.e. Tuesday. It has been a belief that by buying gold on this day, the grace of Goddess Lakshmi remains and there is never any shortage of money and grains. May this day bring good luck and prosperity in your life. Apart from auspicious purchases, gold is also a traditional means of investment. Especially when inflation rises, there is a boom in gold. The whole world is troubled by inflation. In such a situation, it is also important for investors to know whether to buy only auspicious gold on this Akshaya Tritiya or can also be bought on a large scale in terms of investment.
in the next one year ie Akshaya Tritiya 2023 Before where gold can reach, let us know how it has performed in history. According to the report of Kedia Advisory, Gold gave an excellent return of 47.41 percent in the year 2020 due to Corona. Gold on Akshaya Tritiya in 2021 gave a return of only 2.47 percent as compared to 2020 and on May 2 last year on Akshaya Tritiya ( Akshaya Tritiya 2021) is an increase of 7.60 percent. Similarly, gold gave a return of just 0.57 per cent in 2019 and 8.69 per cent in 2018. Gold gave a negative return of 4.95 per cent in 2017.
How has silver been performing?
Talking about silver, there is a decline of 10.67 percent in silver compared to last year. Silver gave a bumper return of 69 per cent in 2021. Prior to that, it had given a negative return of 12.51 percent in 2020 and 5 percent in 2019. Silver gave negative returns from 2013 to 2019 (except 2016 only).
Gold is at the level of 51 thousand
At present, gold is trading at the level of Rs 51095 on MCX, while it is at the level of $ 1885 in the international market. Silver in the domestic market is currently at a level of Rs 63400 per kg and in the international market it is at the level of $ 22.78 per oz. At present both the commodities are under pressure.
Price improvement expected to increase demand
In a report published in Zee Business, Sanyam Mehra, Vice Chairman of Gold and Jewelery Council said that last year gold was close to 55000 on Akshaya Tritiya. Currently it is at 51000. The demand is also strong, so this festival is expected to be good. Gold is also under pressure due to the strengthening of the dollar. The dollar index is currently at its highest level since January 2017. Gold is at 2 month low. The dollar will strengthen further when the Federal Reserve raises the interest rate.
Silver will outperform gold
Anant Ladha, Founder, Invest Aaj Foral Kal, said that from investment point of view, one should keep at least 5 per cent gold in their portfolio. It makes the portfolio strong. Regarding the gold outlook, he said that it would not be advisable to buy from the investment point of view. In the next one year, it is seen close to the current range. Silver can make investors’ silver in comparison to gold. In such a situation, silver seems to be a better option.