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.