Buying gold on the day of Akshaya Tritiya is considered auspicious, but do not limit it to just tradition. If you start investing on this day and keep adding gold little by little in the coming months, you can make good money in the long run. This also reduces the risk of buying at a higher price in one go.
Great returns in last years
In the last 5 years, from Akshaya Tritiya to the next Akshaya Tritiya, gold has given an average annual return of about 30%. This is the reason why investors consider it a safe and reliable option.
What are experts advising?
Sunil Katke says that start investing with a fixed amount on Akshaya Tritiya and then keep buying little by little whenever the price falls. It may be wise to add more around Diwali or when the price shows a significant decline.
What is the condition of the market now?
Gold prices have increased rapidly in the last one year, hence the prices are at a high level now. In such a situation, a slight fall or consolidation of up to 510% may be seen. In such times, instead of investing lump sum, investing gradually is considered a better strategy.
Why is Buy on dips strategy beneficial?
In this strategy you buy when the price comes down slightly. This reduces your average purchase price and also reduces risk. Taking advantage of market fluctuations and investing is considered a wise step.
Gold’s future outlook
Gold has increased due to global uncertainty, purchases by central banks and safe haven demand. However, due to the expectation of increasing interest rates and tensions in West Asia, a slight decline in prices has also been seen. Experts believe that now gold can move up and down within a limited range, which provides a good opportunity for investment.
How much gold should you keep in your portfolio?
According to Chirag Mehta, it is right to keep 1520% of gold in your investment portfolio. This keeps the risks balanced.
What are the investment methods?
Nowadays people are buying light jewelery because of expensive gold. Apart from this, pre-booking of gold and silver coins is also becoming popular, through which people can decide the price in advance. If invested wisely and gradually, gold can become a strong support for your long-term investments.
