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Below is the Views On Buying Gold as an investment on Akshaya Tritiya by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“Akshaya Tritiya, the summer festival of India is associated with wealth, prosperity, and happiness. Many Indians buy Gold as it is an auspicious time to start new work and make investments.
However, the sentiment this year will be different as the entire country is under lockdown due to the outbreak of Coronavirus. While any direct sale from Jewellery shops is not possible; online platforms may see traction. Many digital wallets and gold outlets have come with products like online gold sales and Gold certificates.
Gold acts as a hedge against inflation, and historically its value has appreciated during uncertain times, war, pandemic, or an economic slowdown. Since Gold is an international commodity priced in USD, any depreciation in INR will lead to a further rise in prices of Gold. Value of the yellow metal has risen over 40% in the last year alone.
During economic uncertainty, Gold is generally a safe and profitable investment; therefore, the outlook for gold remains positive in the near term.”
Above views are of the author and not of the website kindly read disclaimer