Akshaya Tritiya 2024: Should you bet on Gold today? Experts advise caution
Read here: Gold up 1% after US jobs data: 5 reasons behind yellow metal's appeal in 2024 Gold's potential for long-term appreciation and its role as a hedge against inflation make it an attractive investment option, especially during auspicious occasions like Akshaya Tritiya. However, experts suggest being cautious due to gold's high domestic prices and potential for a technical correction in the immediate term.
In the long run, various factors such as firm overseas prices, geopolitical tensions, and central bank purchases could support gold's bullish outlook. To maximize returns and minimize risks when investing in gold, consider purchasing in smaller denominations to make gold more affordable despite high prices around ₹71,000 per 10 grams.
The future of gold remains dynamic, shaped by various global factors such as central bank policies, geopolitical scenario, and economic indicators. While the gains seen in the current year are commendable, the historical trend of higher returns during turbulent periods highlights gold's potential to flourish amidst heightened uncertainty.
Read here: Why Akshaya Tritiya is the perfect time to invest in gold — explained Experts suggest diversifying investments across various asset classes balances risk and returns, while strategic timing of gold purchases based on market trends can offer better opportunities for maximizing returns. So should you buy gold this Akshay Tritiya? Let's see what experts have to say: Gold has been an attractive investment asset for investors across the globe, including India, due to its outstanding return of more than 50% compound annual growth rate (CAGR) in the domestic market over the last two and a half years.
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