Skip to main content

Akshaya Tritiya: How much to invest? Where to invest? Invest for how long in gold to reap benefits


Its day of fortune, prosperity and luck as Hindu calendar marks Akshaya Tritiya, also known as Akha Teej on April 26, i.e. today. The day is one of the most auspicious days of the Hindu calendar, which falls on the third day of brighter half in lunar month Vaishaksha.
The word Akshaya means something that never diminishes. This is the reason why people buy gold on this day, believing it will never diminish and help them prosper.
The trend in Indore has seen variations, as people opt to buy electronics, smart devices and cars more often on such auspicious days. This year, amid lockdown to prevent coronavirus, the trend is bound to change.
Sarafa Bazar-the popular gold market of Indore is shutdown. Most goldsmiths from this market are not channelizing online portals and applications to take orders. Some jewellers have tie-ups with online marketplaces and might consider bookings online.
Electronic retailers have several offers on Akshaya Tritiya to lure prospective customers, as shared by Gaurav Pahwa. “We have a full online system in place, where customers can book their orders online with the billing on the day and time booked,” he said. Deliveries would be done after lockdown lifts.
As informed by Deepak Patel, car retailers are slower on the online booking phase, but might consider booking on enquiries.
Fintech companies – Paytm and PhonePe are offering people to buy gold online in physical and digital card form on Akshaya Tritiya. National jewellery brands have announced a gold sale online through their E-commerce website on Sunday. 
However, the big question that every person should consider is the feasibility and profitability of investing in gold at the moment.
//Should you invest in Gold right now?
Financial consultant Prakalp M Jain said, “Gold has inverse relationship with share market. When equity markets are bad, investors turn to gold as alternate.” He explained that now is the time when share market and equity market are bad, leaving gold as an alternative for investors.
“People can invest in gold right now, but not more than 20% of total investments should be in gold,” Jain said. He explained that during economic uncertainty on account of Covid-19, gold prices are expected to rise.
“Gold prices will normalise, once economy is back on track, which is expected to take about 12 to 18 months,” Jain said. He suggested that anyone considering investing in gold make a point to exit at decent returns during this period of 18 months.
“Further, I would suggest investment in fine gold coin or cadbury form, or best option is buy in demat form to avert carrying risk. And do consider buying pure gold in coin format or from stock exchange in ETF format,” Jain added.
//Shubh Muhurat
As per Hindu calendar Drik Panchang, this year Akshaya Tritiya shubh muhurat will be of 6 hours and 23 minutes duration. Akshaya Tritiya shubh muhurat will begin at 06:13 AM and end at 12:36 PM.


Popular posts from this blog

Jharneshwar Mahadev in Madhya Pradesh: a nature escape from urban jungle

Life is too short, unpredictable and an adventure if lived to the fullest. Learning the essential value of life and deciding to seek adventures in life, several groups are now connecting to nature and seeking spiritual growth. Leading a group of adventure seekers to less-known wonders of Indore, Gyandeep Srivastava, administrator of Rides of Riders group unravelled a new getaway. The group went on a long ride exploring the rural areas of the city. In their bid to seek adventure, the group came across an ancient temple ‘Jharneshwar Mahadev’ which dazzles visitors with nature, beauty and wonder. The temple is situated in Shajapur, about 230 kilometres from Indore. The waterfall of Bhadooh (Jharneshwar Mahadev), a famous tourist place falling under the Quartak Panchayat, about 30 km from Manasa in Neemuch district. After monsoons, the waterfall attracts tourists from all over state to witness the 100 feet high waterfall. There were 25 riders in the adventure trip including female rider I...

Before Pentecost, Christian community helps underprivileged families with ration

Prior to Pentecost, Christian community is following the lessons taught by Jesus Christ and helping those in need. In their drive to help underprivileged families, Christian volunteers forming a group are providing ration packets to them. Christian holiday of Pentecost, which is celebrated the 49th day (the seventh Sunday) after Easter Sunday, will be celebrated on May 31 this year. The holiday commemorates the descent of the Holy Spirit upon the Apostles and other followers of Jesus Christ. Under the drive, ration packets are given to 200 to 250 people on a regular basis. “Christ was the ultimate social worker. Not only could he find housing for people, or give them free food,” Ashutosh Joseph, a volunteer said. He cited that in the Bible, God's call to His followers to care for other human beings is clear (Philippians 2:4; 1 John 3:17-18; Proverbs 19:17 New International Version). “In fact, Jesus states that one of the most important commandments is ‘love your neighbour...

What are the precautions for prevention of corona virus? Special instructions for School Students

School Education Department issued an advisory to all the school heads and officers regarding precautions to be taken against the deadly novel coronavirus to prevent the spread of infection among school children. The advisory was sent out at the direction of Ministry of Health and Family Welfare, Government of India with a photocopy of the letter attached. The department in its advisory stated that the world is fighting against the rapid spread of coronavirus (COVID-19). In India, too, the number of cases identified has increased in the last few days. As the school going children are also susceptible to infection and this is a crucial time for children given the end of the academic year and examination, it calls for immediate measures minimizing the effects of the epidemic. In the advisory, the department advised the schools to avoid any large gatherings of students during the course of the day in school. Any student or staff with travel history to any COVID-19 affected countr...